AN ACT TO AMEND THE CHARTER OF THE TOWN OF MILLSBORO RELATING TO THE POWER TO BORROW MONEY AND ISSUE BONDS, AND ANNUAL AUDIT.

This Act amends the Millsboro Charter to require the town auditor to make and deliver the annual audit report to the Town Council by the date of the Council's regular meeting in January after the end of the fiscal year. If the Town receives 100% principal loan forgiveness from a federal, state, or local government, a special election is not required for the project. Additionally any portion of principal forgiveness value granted shall not count toward the Town's aggregate limit of any borrowing authorization previously approved by a special election vote for the proposed loan.