CHAPTER 583
FORMERLY HOUSE BILL NO. 471
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT AUTHORIZING THE LEVY COURT OF KENT COUNTY TO ISSUE BONDS ON THE FULL FAITH AND CREDIT OF THE COUNTY NOT EXCEEDING ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1,400,000) TO PROVIDE FUNDS FOR THE CONSTRUCTION OF A COUNTY OFFICE BUILDING OR AN ADDITION TO OR TO RECONSTRUCT THE EXISTING COURT HOUSE AND THE CONSTRUCTION OF OFFICE AND STORAGE SPACE AND EQUIPMENT TO BE USED THEREIN PROVIDING FOR THE PURCHASE OF REAL ESTATE AND PROVIDING FOR THE METHOD OF REPAYMENT OF SAID BONDS.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. The Levy Court of Kent County is hereby authorized to issue bonds of said County not to exceed in the aggregate principal amount of One Million Four Hundred Thousand Dollars ($1,400,000.00) without regard to any debt limitation contained in any other law for the purpose of acquiring land and constructing additions to the existing Court House facilities, to construct New Court House facilities or to purchase an already existing building, and land and premises, if in the discretion of the Levy Court it is deemed necessary to construct new Court House facilities, and to construct buildings to provide office and storage space for the Departments of Local Government, including parking areas and landscaped areas and purchasing necessary equipment and furniture to be used therein, or to reconstruct, repair, remodel or improve the existing Court House. The said facilities may consist of a single building to serve all such purposes, or several buildings as the Levy Court may deem necessary.
Section 2. The bonds issued pursuant to this Act shall be issued upon the full faith and credit of the County and the Levy Court shall levy annually such ad valorem taxes as are necessary to pay the principal of and interest on the said bonds as they fall due
without regard to any other limitation concerning the maximum rate of taxation.
Section 3. The bonds of each issue shall be dated, shall bear interest at a rate or rates as may be determined by the Levy Court and shall mature at such time or times not exceeding forty (40) years and may be made redeemable before maturity at such price or prices and under such terms and conditions as may be fixed by the Levy Court prior to the issuance of the bonds. The Levy Court shall determine the form of the bonds, including any interest coupons to be attached thereto, and shall fix the denomination or denominations of the bonds. The interest on and principal of all bonds issued pursuant to this Act shall be made payable at the Farmers Bank of the State of Delaware at Dover, Delaware. The bonds shall be signed by the President of the Levy Court of Kent County and by one other member of the Levy Court of Kent County, and the seal of the County, or a facsimile thereof, shall be affixed thereto and any coupons attached thereto shall bear the facsimile signature of the President of the Levy Court. One of the signatures to the bonds may be a facsimile of the true signature of such officer. In case any member whose signature or a facsimile thereof shall appear on any bonds or coupons shall cease to be a member of the Levy Court or cease to hold the office indicated before the delivery of such bonds, such signature or facsimile shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until such delivery. All bonds issued under the provisions of this Act shall have, and are hereby declared to have, as between successive holders, all the qualities and incidents of negotiable instruments under the Negotiable Instrument Law of this State. Such bonds and the income therefrom shall be exempt from all taxation by the State of Delaware or by any political subdivision, agency or authority thereof. The bonds may be issued in coupon or in registered form, or both, as the Levy Court may determine and provision may be made for the registration of any coupon bonds as to principal alone, and also as to both principal and interest, and for the reconversion of any bonds registered both as to principal and interest into coupon bonds. The Levy Court may sell such bonds either at public or private sale and in such manner and for such price but not less than par value as it may determine to be for the best interest of the County. The proceeds of such bonds shall be used solely for the payment of costs of the construction of a new Court House or Court House addition or for the purchase of an
already existing building, and land and premises or construction of buildings to provide office and storage space for the departments of County Government or the reconstruction, repairs, remodeling or improving the existing Court House or any or all of such purposes, and including parking areas and landscaped areas, and the purchase of necessary furniture and equipment to be used therein, as the resolution authorizing the issuance of such bonds may provide. The proceeds of such bonds shall at no time revert to the General Fund of the County, but shall be deposited in a special account and at all times remain available to the Levy Court for the purpose herein set forth. If the proceeds of such bonds, by error of estimates, or otherwise, shall be less than the cost of the project, additional bonds may in like manner be issued to provide the amount of such deficit; provided that the aggregate principal amount of such additional bonds together with the principal amount of all bonds theretofore issued, shall not exceed the amount of One Million Four Hundred Thousand Dollars ($1,400,000.00) and unless otherwise provided in the resolution authorizing the issuance of the bonds shall be deemed to be in the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued for the same purpose. If the proceeds of the bonds of any issue shall exceed the amount required for the purpose for which such bonds are issued, the surplus shall be paid into the funds hereinafter provided for the payment of principal and interest of such bonds. Prior to the preparation of definite bonds, the Levy Court may, under like restrictions, issue temporary bonds, with or without coupons, exchangeable for definite bonds upon the issuance of the latter. The Levy Court may also provide for the replacement of any bond which shall become mutiliated, destroyed or lost. Such bonds may be issued without any other proceedings or the happening of any other conditions or things than those proceedings, conditions and things which are specified and required by this Act. The Levy Court may provide for the securing of the opinion of competent counsel, whether within or without the State, respecting the validity of the bonds and may pay for the cost thereof out of the proceeds of the sale of the bonds.
Section 4. The Levy Court may issue and sell notes of Kent County at either public or private sale for not less than par value in anticipation of the issuance of bonds. The notes shall bear interest at a rate to be determined by the Levy Court. The notes shall be made payable not more than one (1) year after issuance and may be renewed by the issuance and sale of new notes, but all such
notes shall mature and be paid not later than two (2) years after
issuance of the original note. The notes shall be signed by the President of the Levy Court of Kent County and by the Vice President of the Levy Court of Kent County and the seal of the County shall be affixed thereto. All notes issued pursuant to this Act shall be made payable at Farmers Bank of the State of Delaware at Dover, Delaware. The notes may be redeemed at par value and accrued interest prior to their maturity if the right of the County to do so shall have been reserved by an express provision in the notes. The principal and interest on said notes, including renewal notes, shall be paid from the proceeds of the sale of the bonds. The notes shall be general obligations of the County and the full faith and credit of the County shall be pledged for the full and complete payment of the interest on and principal of such notes and such notes shall be exempt from taxation with respect to both principal and interest by the State of Delaware or any political subdivision thereof for any purpose. The Levy Court of Kent County shall have the power and be under obligation to levy and collect such ad valorem taxes as are necessary to pay the principal of and interest on the said notes as they fall due without regard to any other limitation concerning the maximum rate of taxation. The proceeds of such bonds shall be used solely for the payment of costs of the construction of a new Court House or Court House addition or for the purchase of an already existing building, and land and premises or construction of buildings to provide office and storage space for the departments of County Government or the reconstruction, repairs, remodeling or improving the existing Court House or any or all such purposes, and including parking areas and landscaped areas, and the purchase of necessary furniture and equipment to be used therein, as the resolution authorizing the issuance of such bonds may provide. The proceeds of such notes shall at no time revert to the General Fund of the County but shall be deposited in a special account and at all times remain available to the Levy Court for the purposes set forth herein.
Section 5. The Levy Court of Kent County is hereby directed to pay the interest on said bonds when and as the same shall become due, and to pay said bonds when and as the respective classes mature. The said Levy Court, in fixing the rate of taxation, shall annually, until the first principal installment of said bonds shall become due and payable provide for a sum equal to the amount of interest due each year upon said bonds, and as
and when said bonds shall become due and payable, shall- annually, in like manner, provide for a sum equal to the principal of and interest on said bonds, which shall, when collected and paid to the County Treasurer, be set apart by him in a separate account to be opened for that purpose; and, the said County Treasurer shall apply the said sum semi-annually for the payment of such part of said loan and interest thereon as may from time to time become due under the provisions of said bonds.
Section 6. The said Levy Court is hereby authorized and empowered to employ architects, contractors and such other workmen and agents as in their judgment is necessary and to enter into such contracts and agreements respecting the construction of a new building or buildings and additions, reconstructions, repairs, remodeling and/or improvements of existing buildings as in their sole discretion may be required to carry out the purposes of this Act and further shall have the power and authority to require good and sufficient bond, with surety, from any person who shall contract for the work or any part thereof to be done in the construction of said Court House or improvement to the existing Court House facilities.
Section 7. The Levy Court may purchase, such additional lands as may be necessary in its opinion to carry out the purposes of this Act, upon such terms and upon such prices as may be considered by the Levy Court to be reasonable and as can be agreed upon between it and the owner thereof, and to take title thereto in the name of the State of Delaware to and for the use of Kent County.
Section 8. The Levy Court is also authorized to petition the Superior Court to vacate and enclose any existing streets, alleys or ways which may lie within the area defined in Section 1 of this Act. In the event, the procedure to be followed shall be as set forth in Chapter 14, Title 17, Delaware Code, as amended, except that the decision of the Levy Court that any existing street, alley or way within the area set forth in Section 1 of this Act is unnecessary and ought to be vacated shall be conclusive upon the freeholders so appointed.
Section 9. All statutes inconsistent with the provisions of this Act are hereby repealed to the extent of such inconsistency.