AN ACT TO AMEND SECTION 2112, TITLE 14, DELAWARE CODE, RELATING TO CANCELED SCHOOL BONDS AND COUPONS.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Section 2112, Title 14, Delaware Code, is hereby repealed and a new section 2112 enacted in lieu thereof to read as follows:
§ 2112. Cancellation and destruction of paid bonds and coupons
As and when any of the bonds issued under the authority of this chapter or the coupons annexed thereto shall have been paid the same shall be canceled and shall be delivered by the Farmers Bank of the State of Delaware to the State Treasurer of the State of Delaware who shall forthwith make a record of the payment of such bonds or coupons and promptly thereafter deliver the canceled bonds or coupons to the school board. The school board shall record payment of such canceled bonds or coupons as prescribed by the Budget Commission and shall preserve same until audited by the Budget Commission. Thereafter, the bonds and coupons shall be burned or otherwise destroyed after the creation by the school board of a cremation certificate as prescribed by the Budget Commission.
Approved June 16, 1959.