Del. Code tit. 7 § 4357

Current through 2024 Legislative Session Act Chapter 531

Section 4357 - Limitation on borrowing power 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.

7 Del. C. § 4357

73 Del. Laws, c. 389, § 1.;