SENATE BILL NO. 590
A BOND ACT OF THE STATE OF DELAWARE DEAUTHORIZING PREVIOUSLY AUTHORIZED GENERAL OBLIGATION BONDS OF THE STATE OF DELAWARE AND APPROPRIATING CERTAIN SUMS FROM THE FUTURE SCHOOL CONSTRUCTION FUND FOR THE REPAIR OF A FREE PUBLIC SCHOOL.
WHEREAS, previously authorized general obligation bonds can now be deauthorized because of the deposit of the proceeds of the sale of Farmers Bank Common Stock into the Furture School Construction Fund; and
WHEREAS, a fire has seriously damaged the Instruction area and library of the Frederick Douglass School in the Seaford School District; and
WHEREAS, the School District must immediately sign a contract for the school renovations in order for the work to be completed prior to the Fall of 1982.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (three-quarters of all members elected to each House thereof concurring therein);
Section 1. Deal of Prior General Obligation Bond Authorizations. There is hereby repealed the authorization to issue bonds, the proceeds of Whin were heretofore appropriated to the following Department pursuant to the following law for the following project in the following amount:
Department Volume & Chapter Account Code Amount
State Board of Education Vol. 63, Ch. 179 95-01-002-52-82 $442,000
Section 2. There is hereby appropriated to the State Board of Education the sum of $442,000 out of the "Future School Construction Fund" created by the Bond Issuing Officers of the State of Delaware, by resolution of such officers on February 26, 1982, pursuant to Title 29, Section 2717 of the Delaware Code.
Section 3. The sum appropriated in Section 2 of this act to the State Board of Education shall be paid by the State Board with the prior approval of the Office of the State Insurance Commissioner pursuant to Title 18, Chapter 65 of the Delaware Code, to the Seaford School District to pay for the costs incurred in reconstructing, rehabilitating, and refinishing the Frederick Douglass School.
Approved June 17, 1982.