CHAPTER 46

FORMERLY

SENATE BILL NO. 292

A BOND AND CAPITAL IMPROVEMENTS ACT OF THE STATE OF DELAWARE AND CERTAIN OF ITS AUTHORITIES DEAUTHORIZING AND AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE STATE AND REVENUE BONDS OF THE DELAWARE TRANSPORTATION AUTHORITY; APPROPRIATING FUNDS FROM THE FIRST STATE IMPROVEMENT FUND AND THE TRANSPORTATION TRUST FUND; PLEDGING MOTOR VEHICLE REGISTRATION FEES TO THE TRANSPORTATION TRUST 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 REPROGRAMMING CERTAIN FUNDS OF THE DELAWARE TRANSPORTATION AUTHORITY; CREATING CERTAIN FUNDS OF THE STATE; APPROPRIATING CERTAIN GENERAL AND SPECIAL FUNDS OF THE STATE AND THE DELAWARE TRANSPORTATION AUTHORITY; AUTHORIZING THE DEPARTMENT OF ADMINISTRATIVE SERVICES TO ALLOCATE STRIPPER WELL FUNDS TO CERTAIN ELIGIBLE CAPITAL IMPROVEMENTS AUTHORIZED IN THIS ACT; AMENDING RETROSPECTIVELY SECTION 29 OF VOLUME 66, CHAPTER 360 OF THE LAWS OF DELAWARE, RELATING TO THE ECONOMIC DEVELOPMENT FUND; AMENDING RETROACTIVELY CHAPTER 50, TITLE 29 OF THE DELAWARE CODE RELATING TO THE DELAWARE ECONOMIC DEVELOPMENT AUTHORITY; AMENDING CHAPTER 50, TITLE 29 OF THE DELAWARE CODE TO EMPOWER THE DELAWARE ECONOMIC DEVELOPMENT AUTHORITY TO SERVE AS THE SOLE MEMBER OF DOVER-DEL HOUSING CORP. TO ASSIST DEVELOPMENT OF LOW- AND MODERATE-INCOME HOUSING IN DELAWARE; AMENDING CHAPTER 50, TITLE 29 OF THE DELAWARE CODE RELATING TO THE CREATION OF A LAND ACQUISITION FUND; AMENDING CHAPTER 50, TITLE 29 OF THE DELAWARE CODE RELATING TO THE CREATION OF A SMALL BUSINESS REVOLVING LOAN AND CREDIT ENHANCEMENT FUND; AMENDING TITLE 2, CHAPTER 14, SECTIONS 1414, 1415 AND 1417 OF THE DELAWARE CODE RELATING TO THE DELAWARE TRANSPORTATION AUTHORITY; AMENDING TITLE 21, CHAPTER 3, SECTION 307 OF THE DELAWARE CODE PERTAINING TO DISTRIBUTION OF MOTOR VEHICLE REGISTRATION FEES; AMENDING TITLE 29, SECTIONS 8402, 8403(A), 8403(8), 8403(C) AND 8411 OF THE DELAWARE CODE RELATING TO DEPARTMENT OF TRANSPORTATION POSITIONS; AMENDING TITLE 29, SECTION 7423 OF THE DELAWARE CODE PERTAINING TO BOND VERIFICATION; AMENDING CERTAIN SECTIONS OF CHAPTERS 360 AND 92, VOLUME 66, LAWS OF DELAWARE AND AMENDING TITLE 21, DELAWARE CODE.

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. Authorization of Twenty-Year Bonds.

The State hereby authorizes the issuance of Fifty Million Four Hundred Thousand Fifty-Five Dollars ($50,400,055) bonds to which the State shall pledge its full faith and credit. Bonds authorized to be used by this Section shall mature not later than twenty (20) years from their date of issuance. The proceeds of such bonds are hereby appropriated for a portion of the purposes set forth in the "Fiscal Year 1990 Capital Improvements Project Schedule" attached hereto and made a part hereof and summarized as follows:

Approved July 1, 1989.