Supplemental ordinance.
Wilmington City Code § 2-456
in effectSec. 2-456. - Supplemental ordinance.
(a) Prior to the issuance of any series of bonds, the council shall adopt an ordinance supplemental hereto specifying the aggregate principal amount or maximum aggregate principal amount, and authorizing the issuance of such bonds; stating that such bonds are issued in respect of costs of a project of the city or to fund or refund notes or other obligations of the city issued in respect thereof or for the purpose of refunding debt issued for such purpose. Such supplemental ordinance may specify such form, terms and provisions of the bonds to be issued thereunder; may specify a particular method of sale; may specify the terms upon which, or the prices for which, the bonds are to be sold or exchanged, including, if applicable, competitive bidding specifications; and may contain or authorize such further covenants, terms and agreements, all as the council may deem appropriate and proper. Such supplemental ordinance may specify that the terms of the bonds and the terms of the sale thereof may be determined by subsequent resolution or may be determined by action of the bond committee. The bond committee, prior to the issuance of any series of bonds, shall select bond counsel and, not later than seven days prior to the introduction of the bond ordinance, forward its selection to the city solicitor for approval, subject to Section 8-410 of the City Charter, and shall select financial advisors, financial institutions and any other parties associated with bringing a bond issue to market, as such terms are defined in section 2-434 of this chapter.
(b) If the city shall, by supplemental ordinance, authorize the issuance of refunding bonds in the absence of specific direction or inconsistent authorization contained in the supplemental ordinance, the bond committee is hereby authorized in the name and on behalf of the city to take all such action, including the irrevocable pledge of proceeds or the income and profit from the investment thereof for the payment and redemption of the funded or refunded bonds or notes and including the publication of all required redemption notices or the giving of irrevocable instructions therefor, as may be necessary or appropriate to accomplish the funding or refunding. The bond committee shall be authorized in all such instances of any supplemental ordinance, authorizing the issuance of refunding bonds, to select bond counsel and, not later than seven days prior to the introduction of the bond ordinance, forward its selection to the city solicitor for approval, subject to Section 8-410 of the City Charter and to select the financial advisors, financial institutions, and any other parties associated with bringing a bond issue to market.
(Code 1968, § 30-107; Ord. No. 98-021(sub 1), § 3-5-98)
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_DIV7GEOBBO_S2-456SUORFetched: 11/6/2026