CHAPTER 3

FORMERLY

SENATE BILL NO. 13

AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO LIMITATION ON AMOUNT OF BONDS THAT MAY BE ISSUED.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend §2107, Title 14 of the Delaware Code by adding at the end of said section the following:

"or in the case of Sussex County school districts, 10% of 50% of the full market value of real estate, in Kent County school districts, 10% of 60% of the full market value of real estate; and in New Castle County school districts, 10% of 100% of the full market value of real estate, whichever is greater. For purposes of this section, the full market value of real estate shall be determined by the Assessment to Sales Ratio Study conducted annually by the State Budget Office."

Approved February 10, 1997