DE HB82

Amends Chapter 59, Volume 63 of the Laws of Delaware, the Charter of the Town of Dewey Beach, to establish a borrowing process for the 2011 Bayard Avenue Construction Project.

Authorizes Town Commissioners to issue bonds, certificates of indebtedness, notes, or other obligations up to $927,675.00 exclusively for the 2011 Bayard Avenue Construction Project (storm drainage and storm water management improvements).

Requires Commissioners to adopt a Resolution by majority vote specifying the borrowing amount, purpose, security method, and bond details before issuance.

Mandates a public hearing on the borrowing Resolution with notice published in a local newspaper at least one week prior, or posted in four public places if no local newspaper exists.

Establishes that the Resolution must determine bond form, payment terms, interest rates, maturity dates, denominations, and whether bonds are sold publicly or privately.