Limitation on borrowing power of tax lagoon.

Del. Code tit. 7, § 4357
in effect
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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.
Source: DE Code (Official Site)URL: https://delcode.delaware.gov/title7/c043/sc04/index.htmlFetched: 10/4/2026

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