AN ACT TO REPEAL THE AUTHORITY TO ISSUE BONDS OR NOTES OF THE STATE OF DELAWARE AUTHORIZED PRIOR TO JANUARY 3, 1961.
Be it enacted by the General Assembly of the State of Delaware (three-fourths of all the Members elected to each House thereof concurring therein):
Section 1. Chapter 74, Title 29, Delaware Code, is amended by adding thereto a new section to read:
§ 7416. Time limitation on issuance of bonds or notes
(a) The authority to issue any bonds or notes authorized to be issued by or on behalf of this state, which were authorized by an Act of the General Assembly enacted prior to January 3, 1961, is repealed.
(b) Nothing herein contained shall in any way affect bonds or notes issued prior to the effective date of this section.
Approved May 23, 1966.