CHAPTER 381

AN ACT TO AMEND TITLE 14, DELAWARE CODE, CHAPTER 51, SECTION 5115 RELATING TO THE AUTHORITY OF THE UNIVERSITY OF DELAWARE TO ISSUE BONDS BY REMOVING THE CEILINGS ON INTEREST RATES AND INTEREST COSTS.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. Title 14, Delaware Code, Chapter 51, Section 5115 is hereby amended by striking therefrom the words, "not exceeding six per centum".

Section 2. Title 14, Delaware Code, Chapter 51, Section 5115 is further amended by striking therefrom the words, "but no such sale shall be made at a price so low as to require the payment of interest on money received therefor at more than six per centum per annum, computed with relation to the absolute maturity of the bonds in accordance with standard tables of bond values".

Approved April 16, 1970.