CHAPTER 16
FORMERLY
HOUSE BILL NO. 58
AN ACT TO AMEND VOLUME 68, CHAPTER 3, LAWS OF DELAWARE, AS AMENDED, ENTITLED "AN ACT TO REINCORPORATE THE TOWN OF ELSMERE" RELATING TO THE BUDGET.
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 803, Chapter 3, Volume 68, Laws of Delaware, as amended, entitled “An Act to Reincorporate the Town of Elsmere” by adding between the second and third paragraph the following paragraph:
“The budget so approved must have a total of proposed operating expenditures that does not exceed the total of estimated revenues. In determining what shall be included in operating expenditures, the purchase of any capital equipment or buildings that is paid for by a capital lease or borrowing shall not be included except to the extent of the amount due to be paid on such lease or borrowing during the budget year.”
Approved May 10, 2007