HOUSE BILL NO. 985
AN ACT TO AMEND CHAPTER 74, TITLE 29 OF THE DELAWARE CODE AUTHORIZING THE ISSUING OFFICERS OF THE STATE OF DELAWARE TO SELL BONDS OF THE STATE AT PUBLIC OR PRIVATE SALE FOR A LIMITED PERIOD OF TIME.
Be it enacted by the General Assembly of the State of Delaware (three fourths of all members elected to each house thereof concurring therein):
Section 1. Amend §7414, Chapter 74, Title 29, Delaware Code, by adding thereto a new subsection to read as follows:
"(d) Bonds of the State issued pursuant to this Chapter may be sold at public or private sale at the discretion of the Issuing Officers. The terms of such bonds, sold at public or private sale, shall be deemed by the Issuing Officers subject to the Authorization acts. Bonds to be sold at public sale shall be advertised by the publication of a notice of sale published at least once 10 or more days before the day of the sale in at least one newspaper in the State and in a financial journal published in the City of New York. The terms and content of such notice of sale shall be deemed by the Issuing Officers. No advertisement of the sale of bonds at private sale shall be required. The provisions of this subsection shall be applicable to the issuance of Bonds of the State up to and including June 30, 1976, notwithstanding the provisions of subsections (a), (b) and (c) of this section or of any other law of this State to the contrary. The provisions of this subsection shall become void and without effect on July 1, 1976."
Approved April 26, 1976