Bill Text: DE SB176 | 2011-2012 | 146th General Assembly | Draft
Bill Title: An Act To Amend The Charter Of The Municipal Service Commission Of The City Of New Castle Relating To Redesignating The Governing Body Of The Municipal Services Commission Of The City Of New Castle From "board" To "commission", Clarifying That The Commission Can Obtain Private Property Within City Limits For Supplying And Distributing Electricity, Removing The Position Of Superintendent And Replacing It With One Or More Supervisors, Delineating The Power Of The Commission To Borrow Money Through The Issuance Of Revenue Bonds Or Other Debt Obligations With A Resolution Of City Council And To Have Control Over Such Money, Changing The Date Of The Requirement To Publish Financial Reports From July To December And Handing Over Possession Of Money To Be Used For The City's Water And Light Systems From The City Treasurer To The Treasurer Of The Commission.
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: (Enrolled - Dead) 2012-06-05 - SS 1 for SB 176 - Passed by House of Representatives. Votes: Passed 39 YES 0 NO 0 NOT VOTING 2 ABSENT 0 VACANT [SB176 Detail]
Download: Delaware-2011-SB176-Draft.html
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SPONSOR: |
Sen. Connor |
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Sens. Ennis, Henry, Sorenson; Reps. J. Johnson, Mulrooney |
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DELAWARE STATE SENATE 146th GENERAL ASSEMBLY |
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SENATE BILL NO. 176 |
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AN ACT TO AMEND THE CHARTER OF THE MUNICIPAL SERVICE COMMISSION OF THE CITY OF NEW CASTLE RELATING TO REDESIGNATING THE GOVERNING BODY OF THE MUNICIPAL SERVICES COMMISSION OF THE CITY OF NEW CASTLE FROM "BOARD" TO "COMMISSION", CLARIFYING THAT THE COMMISSION CAN OBTAIN PRIVATE PROPERTY WITHIN CITY LIMITS FOR SUPPLYING AND DISTRIBUTING ELECTRICITY, REMOVING THE POSITION OF SUPERINTENDENT AND REPLACING IT WITH ONE OR MORE SUPERVISORS, DELINEATING THE POWER OF THE COMMISSION TO BORROW MONEY THROUGH THE ISSUANCE OF REVENUE BONDS OR OTHER DEBT OBLIGATIONS WITH A RESOLUTION OF CITY COUNCIL AND TO HAVE CONTROL OVER SUCH MONEY, CHANGING THE DATE OF THE REQUIREMENT TO PUBLISH FINANCIAL REPORTS FROM JULY TO DECEMBER AND HANDING OVER POSSESSION OF MONEY TO BE USED FOR THE CITY'S WATER AND LIGHT SYSTEMS FROM THE CITY TREASURER TO THE TREASURER OF THE COMMISSION. |
Section 1.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by deleting "; Board Authority" as it appears in the heading of Section 3 thereof.
Section 2.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by deleting all references to "Board" therein and inserting in lieu thereof each time "Commission".
Section 3.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by amending Section 1(d) by deleting paragraph (ii) thereof in its entirety, by renumbering the definition of "city" in paragraph (iii) thereof as (ii).
Section 4.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by inserting "for the purpose of constructing facilities for supplying and distributing water and/or electricity" between "within the limits of the City of New Castle" and "or without such limits" as it appears in Section 3(a)(iv) therein.
Section 5.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by deleting "shall appoint a superintendent and regulate his" as it appears in Section 3(d) therein and by inserting in lieu thereof "may appoint one or more supervisors and regulate their".
Section 6.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by inserting at the end of Section 3 thereof the following:
"(g)Notwithstanding anything in this Chapter to the contrary, the Commission, upon unanimous approval of the Commissioners, and following approval by resolution of the Council of the City of New Castle, is authorized and empowered to borrow sums of money through the issuance of revenue bonds or other debt obligations in the name of the Commission in accordance with the following provisions:
(i) The revenue bonds or other debt obligation shall not be backed by the full faith and credit of the City of New Castle.
(ii) The revenue bonds or other debt obligations shall be backed by the revenue generated by the Commission.
(iii) The Commission shall provide the Council of New Castle and the Mayor of New Castle with thirty (30) days' advance written notice of its intention to issue such revenue bonds or other debt obligations.
(iv) The maximum amount of outstanding revenue bonds or other debt obligations issued under this Section 3(g) shall not exceed the annual gross revenues of the Commission for the year preceding the year of the issuance of such revenue bonds or other debt obligations.
(v) The proceeds from the revenue bonds or other debt obligations shall be used solely for expansion of the existing water and electric systems of the Commission, and the upgrade and maintenance of such systems, and other capital expenditures for real or personal property deemed by the Commissioners as reasonably necessary to the operations of the Commission.
(vi) Revenue bonds or debt obligations may be issued in one or more service, shall bear such date or dates, shall mature at such time or times, shall bear interest at such rate or rates, shall be payable at such time or times, at such place or places, shall be in such denominations and shall contain such other provisions as the Commissioners, by unanimous consent, may provide and shall be set forth in such revenue bonds or other debt obligations.Revenue bonds may or may not be coupon bonds and may be registered or otherwise as the Commissioners, by unanimous consent, deem advisable.
(vii) The Commissioners shall direct and effect the preparation and sale of said revenue bonds or other debt obligations at such time or times, at such price or prices and upon such terms as the Commissioners, by unanimous consent, deem advisable and all net monies raised from the issuance of such proceed shall be used in accordance with the terms of this Act.
(viii) The form of the revenue bonds or other debt obligations shall be as prescribed by the Commissioners and all such bonds shall be signed by a duly authorized commissioner.A facsimile signature may be imprinted on the bonds in lieu of signature of the aforementioned Commissioner.
(ix) Bonds shall be exempt from all state, county and municipal taxes.
(x) A statement appearing on the bond that the bonds have been duly authorized shall be deemed and held to be conclusive evidence in favor of the lawful holder of any such bonds that the terms and conditions of this Section 3(g) have been fully met and complied with.".
Section 7.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by deleting "July" as it appears in Section 5(b) thereof and by inserting in lieu thereof "December".
Section 8.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by deleting Section 6 thereof in its entirety.
Section 9.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by inserting "borrowed pursuant to Section 3(g) above or" between "all money" and "borrowed by the City" as it appears in both Section 10(a) and Section 10(b) thereof.
Section 10.Amend Chapter 121, Volume 32, Laws of Delaware, as amended by deleting "City Treasurer" as it appears in Section 10(b) thereof and by inserting in lieu thereof "Treasurer of the Commission".
SYNOPSIS
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The Bill redesignates the governing body of the Municipal Services Commission of the City of New Castle from "Board" to "Commission", clarifies that the Commission can obtain private property within city limits for supplying and distributing electricity, removes the position of Superintendent and replaces it with one or more Supervisors, delineates the power of the Commission to borrow money through the issuance of revenue bonds or other debt obligations with a resolution of City Council and to have control over such money, changes the date of the requirement to publish financial reports from July to December and hands over possession of money to be used for the City's water and light systems from the City Treasurer to the Treasurer of the Commission. |
AUTHOR:Sen. Connor
