CHAPTER 226
RELATING TO CITY OF NEWARK
AN ACT TO AMEND AN ACT ENTITLED "AN ACT CHANGING THE NAME OF THE 'TOWN OF NEWARK' TO THE 'CITY OF NEWARK' AND ESTABLISHING A CHARTER THEREFOR" BY CHANGING THE LIMITATION ON THE TAXING POWER AND CHANGING THE BONDED DEBT LIMITATION.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each House concurring therein):
Section 1. That Section 34 of Chapter 152 of Volume 48, Laws of Delaware, is amended by striking out the figures "$100,000" and by inserting in lieu thereof the following figures and words:
"2% of the assessed valuation of the assessable and taxable real estate within the limits of the City."
Section 2. That Section 36 of Chapter 152 of Volume 48, Laws of Delaware, is amended by striking out the figures "$800,000" where they appear in the last line thereof and by inserting in lieu thereof the following figures and words:
"10% of the assessed valuation of the assessable and taxable real property within the limits of the City."
Approved July 1, 1953.