CHAPTER 373
AN ACT TO AMEND VOLUME 56, LAWS OF DELAWARE, CHAPTER 435 BY AUTHORIZING THE UNIVERSITY OF DELAWARE TO USE FUNDS APPROPRIATED BY SAID ACT TO DEFRAY IN PART THE CONSTRUCTION COSTS OF THE BUSINESS AND ECONOMICS BUILDING AT THE UNIVERSITY OF DELAWARE.
WHEREAS, under the provisions of the Annual Capital Improvement Act of 1968, Volume 56, Laws of Delaware, Chapter 121, there was appropriated to the University of Delaware the sum of three million eight hundred and fifty-five thousand dollars ($3,855,000) of which the sum of two million two hundred and forty-four thousand dollars ($2,244,00) was allocated to defray in part the cost of the Business and Economics Building at the University of Delaware which is under contract to be constructed at a cost of three million five hundred forty-four thousand six hundred and twenty-two dollars ($3,544,622); and
WHEREAS, the University of Delaware applied for Federal funds in the amount of three hundred thousand six hundred and twenty-two dollars ($300,622) under Title II of the Higher Education Act of 1963 to complete said construction costs; and
WHEREAS, no grant of Federal funds has been made and the University of Delaware is in urgent need of additional funds to complete said Business and Economics Building which is presently being constructed; and
WHEREAS, Chapter 435 of Volume 56, Laws of Delaware, appropriated to the University of Delaware the sum of one million five hundred and fifty thousand dollars ($1,550,000) and authorized the issuance of bonds and bond anticipation notes therefor, which appropriation was to be used for the renovation and remodeling of Brown Laboratory at the University of Delaware; and
WHEREAS, Section 6 of said Act provided that in the event the University of Delaware obtained a grant under Title II of the Higher Education Act of 1965 to defray in part the cost of the renovation and remodeling of Brown Laboratory, the appropriation therein provided for shall be reduced by the amount of such grant; and
WHEREAS, the University of Delaware has been notified of a grant under Title II of the Higher Education Act of 1965 in the amount of two hundred thousand dollars ($200,000) to defray in part the cost of the renovation of Brown Laboratory at the University of Delaware; and
WHEREAS, it is deemed desirable that the two hundred thousand dollars ($200,000) originally appropriated for part of the cost of renovating Brown Laboratory and no longer needed for that purpose, shall be used to finance a part of the deficit for the construction of the Business and Economics Building at the University of Delaware.
NOW, THEREFORE,
Be it enacted by the General Assembly of the State of Delaware (three-fourths of all the members elected to each House thereof concurring therein):
Section 1. Chapter 435 of Volume 56, Laws of Delaware, is hereby amended by striking out and repealing all of Section 6 thereof.
Section 2. Chapter 435 of Volume 56, Laws of Delaware, is hereby further amended by striking out in Section 1 thereof the words "which shall be used for the renovation and remodeling of Brown Laboratory at the University of Delaware" and by inserting in lieu thereof, the words:
of which the sum of one million three hundred and fifty thousand dollars ($1,350,000) shall be used for the renovation and remodeling of Brown Laboratory and the sum of two hundred thousand dollars ($200,000) shall be used to defray in part the construction costs of the Business and Economics Building at the University of Delaware.
Approved April 16, 1970.