CHAPTER 434

FORMERLY

HOUSE BILL NO. 117

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTER 13, TITLE 2, DELAWARE CODE RELATING TO AUDITING AND THE DELAWARE TRANSPORTATION AUTHORITY.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend §1323, Chapter 13, Title 2, Delaware Code by striking said section in its entirety and substituting in lieu thereof the following:

11323. Audit of books and accounts.

The Office of Auditor of Accounts, shall cause an annual audit of the books and accounts of the Authority. The selection of a firm to perform the annual audit of the books and accounts of the Authority shall be mutually agreed upon by the Office of the Auditor of Accounts and the Secretary who shall consult and cooperate with each other in the selection, contract, employment and scope of professional services to be rendered, provisions in 29 Dgl. Chapter 29 notwithstanding. The audit shall be performed by an independent firm of certified public accountants of recognized ability and standing and shall conform in all respects to the convenants contained in all Trust Agreements entered into by the Authority for the benefit of its bondholders. The Authority shall transfer funds, as requested by the Office of Auditor of Accounts, to cover the cost of the audit."

Approved July 14, 1994.