SENATE BILL NO. 336
AN ACT TO AMEND AN ACT BEING CHAPTER 295, VOLUME 65, LAWS OF DELAWARE, AS AMENDED, ENTITLED "AN ACT TO REINCORPORATE THE TOWN OF BETHANY BEACH" TO MODIFY THE LIMIT ON THE AMOUNT FOR ANY SPECIAL TAX FOR SINKING FUNDS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all members elected to each house thereof concurring therein):
AMEND §12.2.7, Chapter 295, Volume 65, Laws of Delaware, by deleting the words “shall not in any one year exceed a sum equal to five per centum of the total of such indebtedness” and in place thereof inserting the words “shall not, in any one year, exceed the total amount necessary to pay all currently due principal amounts of the bonded indebtedness together with all interest currently due thereon within that year”.
Approved June 20,2000