SENATE BILL NO. 192
AS AMENDED BY
SENATE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 237, VOLUME 51, ENTITLED "AN ACT TO REINCORPORATE THE TOWN OF BRIDGEVILLE" BY PERMITTING IT TO ACCEPT GRANTS OR LOANS FROM FEDERAL, STATE, OR INTERSTATE AGENCIES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all members elected to each house thereof concurring therein):
Section 1. Amend Section 29, Chapter 237, Volume 51, Laws of Delaware, relating to Power to Borrow Money, by adding a new paragraph thereto, as follows:
"Section 29. POWER TO BORROW MONEY
For the purposes set forth herein, the Commissioners of Bridgeville may accept grants or loans of money, labor, material, equipment or technical assistance from agencies of the federal or state government or from interstate agencies. The Commissioners of Bridgeville may issue bonds to evidence loans made by an agency of the federal or state government, at private sale. The Commissioners of Bridgeville may pledge its taxing power to the payment of the bonds without limitation as to rate or amount and the bonds may be payable at a place approved by the agency making the loan. Bonds issued pursuant to this section shall not be subject to the limitations set out herein."
Approved January 21, 2004