Power to issue tax and revenue anticipation notes; note ordinance.
Wilmington City Code § 2-401
in effectSec. 2-401. - Power to issue tax and revenue anticipation notes; note ordinance.
The city shall have the power and authority to borrow money from time to time in any fiscal year in anticipation of the receipt of taxes or revenues, or both, to evidence the obligation by notes, appropriately designated, and to authorize, issue and sell such notes in the manner and subject to the limitations provided therefor in this division. Tax and revenue anticipation notes issued by the city pursuant to this division shall be authorized by a note ordinance passed by the council. Each note ordinance shall state in brief and general terms the object or purpose for which the notes are to be issued, the maximum aggregate principal amount of the notes to be issued, the method by which the notes shall be sold, and the maximum rate or rates or variable rate or rates of interest to be borne by the notes. All matters not required to be determined by such note ordinance may be determined by subsequent resolutions passed by council.
(Code 1968, § 30-68; Ord. No. 94-027, § 2, 5-12-94)
Source: City of Wilmington, Delaware, City Code, City Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/de/wilmington/codes/code_of_ordinances?nodeId=PTIIWICO_CH2AD_ARTVIFI_DIV6TAREANNO_S2-401POISTAREANNONOORFetched: 11/6/2026