SENATE BILL NO. 604
AN ACT TO AMEND SECTION 12.9, ARTICLE 12, §6501, SUBCHAPTER I, CHAPTER 65, TITLE 7 OF THE DELAWARE CODE, RELATING TO THE DELAWARE RIVER BASIN COMPACT AND THE INTEREST RATE OF BONDS ISSUED BY THE DELAWARE RIVER BASIN COMMISSION.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Section 12.9, Article 12, §6501, Subchapter I, Chapter 65, Title 7 of the Delaware Code by striking in said Section 12.9 the words "of not to exceed 6 percent per annum" and in lieu thereof add the words "determined by the Commission" to said Section 12.9.
Section 2. The amendment of Section 12.9, Article 12, §6501, Subchapter I, Chapter 65, Title 7 of the Delaware Code, by Section 1. of this Act, shall be effective upon the enactment of concurring legislation by the United States Congress and by each of the signatory parties of the Delaware River Basin Compact, which includes the states of New Jersey, New York and the Commonwealth of Pennsylvania.
Approved July 8, 1982.