Delaware General Assembly

Vetoed 7/10/06

The General Assembly has ended, the current status is the final status.

4/13/05

Venables

Rep. Lee

AN ACT TO AMEND CHAPTER 288, VOLUME 64, LAWS OF DELAWARE, AS AMENDED, THE CHARTER OF THE TOWN OF LAUREL, AS AMENDED, WITH REGARD TO INCREASING THE LIMITS FOR AUTHORIZING GENERAL OBLIGATION BONDS, CERTIFICATES OF INDEBTEDNESS OR OTHER OBLIGATIONS BY THE TOWN COUNCIL WITHOUT THE REQUIREMENT OF A PUBLIC HEARING AND SPECIAL ELECTION, AS WELL AS INCREASING THE CEILING FOR BONDED INDEBTEDNESS FROM 25% TO 50% OF THE ASSESSED VALUE OF REAL PROPERTY WITHIN THE LIMITS OF THE TOWN OF LAUREL.

This Act amends the Charter of the Town of Laurel to permit the issuance of general obligation bonds or other obligations of The Town of Laurel, without a public hearing and referendum, up to the aggregate amount outstanding at any time of $5 million, and increasing the ceiling for bonded indebtedness from 25% to 50% of the assessed value of real property within the Town of Laurel.

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Takes effect upon being signed into law

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