Delaware Statutes
§ 4357 — Limitation on borrowing power of tax lagoon
Delaware·Title 7·Part Agricultural and Soil Conservation; Drainage and Reclamation of Lowlands·Ch. 43 DREDGING AND MANAGEMENT OF LAGOONS·Subch. Powers of Tax Lagoon
A tax lagoon may borrow money pursuant to this chapter with the consent of a majority of the votes cast at a meeting duly called under § 4348 of this title. No tax lagoon shall borrow money in excess of 90 percent of the total assessment base established by the lagoon order.
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Legislative History
73 Del. Laws, c. 389, § 1
Nearby Sections
15
§ 4301
Declaration of policy§ 4302
Purpose§ 4303
Definitions§ 4310
Nature of a tax lagoon§ 4312
Form of petition§ 4313
Name of tax lagoon