Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (two-thirds of the members elected to each branch of the Legislature concurring therein):
Section 1. That the Commissioners of Newport, a Municipal Corporation of the State of Delaware, be and it is hereby authorized and empowered to anticipate current revenue by borrowing an amount not in excess of Five Thousand Dollars ($5,000.00) for the purpose of making additions to and improving the Municipal Waterworks. The indebtedness created under this provision shall be evidenced by a note or notes of the Town and the faith and the credit of the Town shall be deemed to be pledged thereby.