CHAPTER 709

SENATE BILL NO. 859

AN ACT LIMITING THE AUTHORIZATION OF GENERAL OBLIGATION BONDS OF THE STATE OF DELAWARE.

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

Section 1. The authorization by the General Assembly of the State of Delaware of General Obligation Bonds shall be limited in any fiscal year to 750/o (seventy-five percent) of the Principal Retirement of the prior fiscal year.

Approved August 5, 1976