CHAPTER 3

PROVISIONS CONCERNING THE ISSUANCE OF BONDS

AN ACT TO MAKE FURTHER PROVISION FOR THE ISSUANCE OF BONDS OF THE STATE OF DELAWARE WHICH WERE AUTHORIZED BY CHAPTERS 203, 204, 290 AND 376 OF VOLUME 47, LAWS OF DELAWARE, 1949; MODIFYING THE REQUIREMENTS OF SAID ACTS RELATING TO THE FORM, METHOD OF EXECUTION, REGISTRATION, AND METHOD OF SALE OF SAID BONDS; AND MAKING AN APPROPRIATION FOR THE PAYMENT OF EXPENSES INCIDENT TO THE ISSUANCE AND SALE OF SAID BONDS.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (three-fourths of all members elected to each branch concurring therein):

Section 1. Notwithstanding anything to the contrary contained in Chapters 203, 204, 290 and 376 of Volume 47, Laws of Delaware, 1949, it shall be lawful to issue the bonds authorized by said chapters in such form as the officers authorized to issue the same may adopt, without regard to any form of bond prescribed by said Acts; and such bonds may provide for such privileges of registration, conversion, reconversion, redemption and exchange, as may be determined by the officers authorized by said acts to issue the same.

Section 2. In all cases where such bonds are required by said Acts to be signed by the Governor and Secretary of State of the State of Delaware, it shall be sufficient to sign such bonds by facsimile signatures of such officers, in lieu of manual signatures; but the signature of the State Treasurer on such bonds shall be in his own proper handwriting.

Section 3. Notwithstanding anything to the contrary contained in said Acts, sufficient notice of sale of said bonds shall be deemed to have been given if said notice shall have been published at least once ten or more days before the date of sale in at least one newspaper published in the State of Delaware

and in a financial journal published in the City of New York, and no other publication of such notice of sale shall be necessary; and said bonds may be sold upon such terms and conditions as may be set forth in such notice of sale, provided that the purchase price shall be not less than par and accrued interest.

Section 4. The sum of Twenty-five Thousand Dollars ($25,000.00), or so much thereof as may be necessary, in addition to any amounts heretofore appropriated for such purpose, is hereby appropriated to the Governor, State Treasurer and the Secretary of State for the purpose of paying expenses incident to the issuance and sale of said bonds and any other bonds of the State of Delaware authorized by Acts passed since January 6, 1949.

Approved November 4, 1949.