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DE HB398
Bill
Status
7/20/2012
Primary Sponsor
Daniel Short
Click for details
AI Summary
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Authorizes the Commissioners of the Town of Bridgeville to borrow up to $1,500,000 for municipal purposes by issuing bonds or other obligations without requiring a referendum.
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Permits bond issuance through Commissioner resolution (requiring majority approval) without the limitations and requirements of standard borrowing procedures.
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Requires a public hearing before bond issuance is approved, with hearing notice posted at least seven days in advance.
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Mandates that hearing notices disclose the total borrowing amount and the specific projects the borrowed funds will finance.
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Hearing notice must comply with Delaware's Freedom of Information Act requirements.
Legislative Description
An Act To Amend Volume 51, Chapter 237, Laws Of Delaware, As Amended, Entitled "an Act To Reincorporate The Town Of Bridgeville" Relating To The Power To Borrow Funds For Municipal Purposes Without Referendum.
Last Action
Signed by Governor
7/20/2012