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.
Structure Delaware Code
Chapter 43. DREDGING AND MANAGEMENT OF LAGOONS
Subchapter IV. Powers of Tax Lagoon
§ 4341. Meeting to organize tax lagoon; notice.
§ 4342. Distribution of lagoon order and this chapter; filing of assessment list.
§ 4345. Election of lagoon managers and a secretary-treasurer; terms of office; vacancies.
§ 4346. Chairperson of lagoon managers; duties.
§ 4347. Compensation of lagoon managers and secretary-treasurer.
§ 4348. Annual and other meetings of taxables; notice of meetings.
§ 4349. Meetings of lagoon managers; quorum.
§ 4350. Powers of a tax lagoon.
§ 4351. Duties of lagoon managers.
§ 4352. Duties of secretary-treasurer of tax lagoon.
§ 4353. Bond of secretary-treasurer.
§ 4354. Failure of lagoon officer to perform duties; remedy; removal.
§ 4355. Signatures on instruments issued by tax lagoon.