CHAPTER 262

FORMERLY

HOUSE BILL NO. 380

AS AMENDED BY

SENATE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTER 276, VOLUME 65, LAWS OF DELAWARE, AS AMENDED, THE CHARTER OF THE TOWN OF GEORGETOWN, TO PROVIDE FOR MUNICIPAL TAX INCREMENT FINANCING AND MUNICIPAL SPECIAL DEVELOPMENT DISTRICTS, TO PROVIDE FOR AN EXCEPTION TO COMPETITIVE BIDDING FOR CERTAIN CONTRACTS IN CONNECTION WITH MUNICIPAL TAX INCREMENT FINANCING AND MUNICIPAL SPECIAL DEVELOPMENT DISTRICTS, AND TO PROVIDE FOR CERTAIN MATTERS RELATING TO COLLECTION AND LEVY OF SPECIAL AD VALOREM TAXES, SPECIAL TAXES, AND AD VALOREM TAXES IN CONNECTION WITH MUNICIPAL TAX INCREMENT FINANCING AND MUNICIPAL SPECIAL DEVELOPMENT DISTRICTS.

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 Chapter 276, Volume 65, Laws of Delaware, as amended, by inserting therein a new § 34A to read as follows:

Ҥ 34A. Tax Increment Financing and Special Development Districts.

In addition to all other powers the Town Council may have, and notwithstanding any limitation of law, the Town Council shall have all powers and may undertake all actions for the purposes set forth in, and in accordance with Chapter 17, Title 22 of the Delaware Code, relating to the Municipal Tax Increment Financing Act, and Chapter 18, Title 22 of the Delaware Code, relating to Special Development Districts.”.

Section 2. Amend Chapter 276, Volume 65, Laws of Delaware, as amended, by adding a paragraph at the end of Section 15 to read as follows:

“(c) Nothwithstanding the foregoing provisions of this Section 15 and without complying with the competitive bidding procedures described above, the Town Council of the Town of Georgetown may enter into any contract necessary or desired in connection with a special development district or tax increment financing district created or designated by the Town Council of the The Town of Georgetown pursuant to Section 34A of this Charter except a contract in which the Town Council of the Town of Georgetown is directly contracting for the procurement of the labor or material for public improvements for the benefit of such district, provided that the foregoing exception shall not apply to development or similar type contracts between the Town Council of the Town of Georgetown and an owner of real property in such district when the contract is generally for the transfer by the owner to the Town Council of the Town of Georgetown of the work performed and the cost of labor or material provided by such owner for the benefit of such district.”.

Section 3. Amend Chapter 276, Volume 65, Laws of Delaware, as amended, by adding a paragraph at the end of Section 28 to read as follows:

“(j) The provisions of this Section shall apply to all special ad valorem taxes and special taxes levied by the Town Council pursuant to Section 34A, provided that all references in this Section to an Annual Tax List shall, for all purposes relating to such special ad valorem taxes and special taxes, be deemed to refer to the tax list showing the amounts of special ad valorem taxes or special taxes levied against the real property within a special development district.”.

Section 4. Amend Chapter 276, Volume 65, Laws of Delaware, as amended, by redesignating the first paragraph as “(a)” instead of “(1)” and by adding a paragraph at the end of Section 30 to read as follows:

“(b) All provisions of this Section and any other Section of this Charter limiting the amounts of indebtedness to be incurred or taxes to be levied by the Town Council shall not apply to any indebtedness incurred or any special ad valorem taxes, special taxes, or ad valorem taxes levied pursuant to or in connection with Section 34A of this Charter.”.

Section 5. If any provision of this Act or the application thereof to any person at circumstance is held invalid, such invalidity shall not affect other provisions or applications of the Act which can be given effect without the invalid provision or applications, and to that end the provisions of this Act are declared severable.

Approved May 10, 2006