CHAPTER 152 - MUNICIPAL CORPORATIONS

AN ACT VALIDATING, RATIFYING, APPROVING AND CONFIRMING BONDS AND OTHER INSTRUMENTS OR OBLIGATIONS HERETOFORE ISSUED BY PUBLIC BODIES OF THIS STATE FOR PUBLIC WORKS PROJECTS.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (two-thirds of the members elected to each house concurring therein):

Section 1. This Act may be cited as "The 1935 Validating Act."

Section 2. The following terms, wherever used or referred to in this Act, shall have the following meaning:

(a) The term "public body" means an incorporated city or town of the State of Delaware.

(b) The term "bonds" includes bonds, notes, warrants, debentures, certificates of indebtedness, temporary bonds, temporary notes, interim receipts, interim certificates and all instruments or obligations evidencing or representing indebtedness, or evidencing or representing the borrowing of money, or evidencing or representing a charge, lien, or encumbrance on specific revenues, income or property of a public body, or including all instruments or obligations payable from a special fund.

Section 3. All bonds heretofore issued for the purpose of financing or aiding in the financing of any work, undertaking or project by any public body to which any loan or grant has heretofore been made by the United States of America through the Federal Emergency Administrator of Public Works for the purpose of financing or aiding in the financing of such work, undertaking or project, including all proceedings for the authorization and issuance of such bonds, and the sale, execution and delivery thereof, are hereby validated, ratified, approved and confirmed, notwithstanding any lack of power (other than constitutional) of such public body, or the governing board or commission or officers thereof, to authorize and issue such bonds, or to sell, execute or deliver the same, and notwithstanding any defects or irregularities (other than constitutional) in such proceedings, or in such sale, execution or delivery; and such bonds are and shall be binding, legal, valid and enforceable obligations of such public body.

Section 4. An emergency existing, this Act shall be in force and effect from the date of its approval.

Approved April 15, 1935.