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Limitation on stated maturity date of notes; time of payment of interest.

Wilmington City Code § 2-404
in effect
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Sec. 2-404. - Limitation on stated maturity date of notes; time of payment of interest. No tax and revenue anticipation notes shall be stated to mature beyond the period ending 13 months after the date such notes were issued. Nothing in this division shall be construed to prevent the passage of a note ordinance or the issuance of notes prior to the beginning of the fiscal year during which such notes mature. Interest on tax and revenue anticipation notes shall be payable at the maturity of such notes or payable in installments at such earlier dates and at such rate or rates or variable rate or rates as the council may determine or approve. (Code 1968, § 30-71; Ord. No. 91-033, § 2(30-71), 6-6-91)
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_S2-404LISTMADANOTIPAINFetched: 11/6/2026

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