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2025 Delaware Code
Title 7 - Conservation
Chapter 43. DREDGING AND MANAGEMENT OF LAGOONS
Subchapter IV. Powers of Tax Lagoon
§ 4357. Limitation on borrowing power of tax lagoon.
Universal Citation:
7 DE Code § 4357 (2025)
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§ 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.
73 Del. Laws, c. 389, § 1;
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