CHAPTER 146

FORMERLY

SENATE BILL NO. 374

AN ACT OF THE STATE OF DELAWARE AUTHORIZING THE ISSUANCE OF OBLIGATIONS TO FINANCE COSTS OF VARIOUS PROJECTS, APPROPRIATING THE PROCEEDS TO SUCH USES BY VARIOUS AGENCIES OF THE STATE AND BY THE STATE BOARD OF EDUCATION, APPROPRIATING AMOUNTS IN THE BOND REVERSION ACCOUNT TO FINANCE COSTS OF VARIOUS PROJECTS, DEAUTHORIZING THE ISSUANCE OF OBLIGATIONS FOR VARIOUS PROJECTS AND MAKING PROVISIONS FOR THE ISSUANCE OF OBLIGATIONS AND THE APPLICATION OF SUCH PROCEEDS BY REPEALING CHAPTER 74, TITLE 29, DELAWARE CODE, AS AMENDED, AND REENACTING AS CHAPTER 74, TITLE 29 NEW PROVISIONS FOR THE ISSUANCE OF OBLIGATIONS BY THE STATE AND THE APPLICATION OF SUCH PROCEEDS, PROVIDING FOR A FIRST LIEN ON REVENUES OF THE STATE IN CASE OF DEFAULT IN PAYMENT OF SUCH OBLIGATIONS, AUTHORIZING THE ISSUANCE OF REVENUE ANTICIPATION NOTES AND BY AMENDING CHAPTER 75, TITLE 29, DELAWARE CODE, AS AMENDED, RELATING TO ISSUANCE OF OBLIGATIONS BY THE STATE FOR SCHOOL PROJECTS AND THE APPLICATION OF PROCEEDS OF SUCH OBLIGATIONS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-quarters of all members elected to each House thereof concurring therein):

Approved July 12, 1979.