CHAPTER 385

FORMERLY

HOUSE BILL NO. 766

A BOND AND CAPITAL IMPROVEMENTS ACT OF THE STATE OF DELAWARE AND CERTAIN OF ITS AUTHORITIES AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE AND HIGHWAY REVENUE BONDS OF THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING FUNDS FROM THE FIRST STATE IMPROVEMENT FUND; DEAUTHORIZING CERTAIN GENERAL OBLIGATION BONDS OF THE STATE AND CERTAIN AUTHORITY FOR GUARANTEED INDUSTRIAL REVENUE BONDS; REVERTING AND REPROGRAMMING CERTAIN SURPLUS FUNDS OF THE STATE AND THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING CERTAIN GENERAL AND SPECIAL FUNDS OF THE STATE AND THE DELAWARE TRANSPORTATION AUTHORITY; CHANGING THE MOTOR FUEL TAX FROM ELEVEN CENTS PER GALLON TO THIRTEEN CENTS PER GALLON, PLEDGING SUCH REVENUES TO SUPPORT BONDS ISSUED BY THE DELAWARE TRANSPORTATION AUTHORITY; AUTHORIZING THE DEPARTMENT OF ADMINISTRATIVE SERVICES TO ALLOCATE EXXON OIL OVERCHARGE FUNDS TO CERTAIN ELIGIBLE CAPITAL IMPROVEMENTS AUTHORIZED IN THIS ACT; AUTHORIZING THE PURCHASE OF CERTAIN REAL PROPERTIES BY THE STATE AND CERTAIN OF ITS AUTHORITIES; CLARIFYING PROVISIONS PERTAINING TO THE DELAWARE TRANSPORTATION AUTHORITY WITH RESPECT TO THE ISSUANCE AND ADMINISTRATION OF BONDS; CREATING THE DELAWARE LAND AND WATER CONSERVATION TRUST FUND; PLACING CERTAIN CONDITIONS ON THE APPROPRIATIONS CONTAINED IN THIS ACT AND PREVIOUS ACTS OF THE STATE; AND MAKING CERTAIN OTHER CHANGES TO THE DELAWARE CODE AND LAWS OF DELAWARE APPLICABLE TO THE ISSUANCE AND ADMINISTRATION OF BONDS BY THE STATE AND ITS AUTHORITIES.

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 1, 1986.