AN ACT TO AMEND CHAPTER 121, VOLUME 56, LAWS OF DELAWARE, ENTITLED "AN ACT AUTHORIZING THE STATE OF DELAWARE TO BORROW MONEY TO BE USED FOR CAPITAL IMPROVEMENTS AND EXPENDITURES IN THE NATURE OF CAPITAL INVESTMENTS AND TO ISSUE BONDS AND NOTES THEREFOR AND APPROPRIATING THE MONEYS TO THE VARIOUS AGENCIES OF THE STATE" BY ADDING A SUPPLEMENTARY APPROPRIATION TO PROVIDE FOR ESCALATING COSTS OF SCHOOL CONSTRUCTION.
WHEREAS, there is a continued and urgent need for school construction in certain school districts within the State of Delaware; and
WHEREAS, construction costs have been escalating at such a rapid rate as to make estimations of school construction costs difficult,
Be it enacted by the General Assembly of the State of Delaware (three-fourths of all the Members elected to each Branch concurring therein):
Section 1. Chapter 121, Volume 56, Laws of Delaware, is hereby amended by adding at the end of Section 1 thereof the following:
Notwithstanding any other provisions of this Act, an additional sum of $500,000 is hereby appropriated by the General Assembly and assigned to the State Board of Education for the purpose of administration of Section 8 of said Act.
The purpose of such appropriation shall be for the assignment of funds to certain school districts named in the Act, in addition to such funds as are provided in Section 8 of said Act. Such additional funds are to be used solely for the purpose of meeting escalating construction costs, wherein bids for school construction exceed the maximum sums provided in said Act.
Determination of the amounts of money to be assigned to certain of the school districts named in said Act shall be within the discretion of the State Board of Education, but according to the usual 60% State-40% local basis.
Approved August 1, 1968.