CHAPTER 16
AN ACT TO PROVIDE FOR THE REVERSION OF SCHOOL CONSTRUCTION FUNDS TO THE STATE AND TO THE SCHOOL DISTRICTS IN THE SAME PROPORTION AS SUCH FUNDS WERE APPROPRIATED AND TO STIPULATE HOW THESE FUNDS SHALL BE EXPENDED.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Any sums of money which have been appropriated by the State of Delaware under the provisions of the 1960 and 1957 School Construction Acts which remain unexpended one year after pupil occupancy of any school building constructed under the provisions of such Acts shall revert to the State of Delaware and shall be deposited to a special account to be applied against future school construction bond requirements of the State. This applies to the State share only. If, however, such school building or school buildings have been occupied by pupils for one year or longer, one month after the enactment of this statute such sums remaining unexpended shall revert to the State in the same manner as stated above and shall be used for the same purpose as prescribed above. This applies to the State share only.
Any sums of money which have been appropriated by any local school district under the provisions of the 1960 and 1957 School Construction Acts which remain unexpended one year after pupil occupancy of any school building constructed under the provisions of such Acts shall be deposited to the debt service account of the school district to be used only for the purposes of retirement of school district bonds and interest thereon. If, however, such school building or school buildings have been occupied by pupils for one year or longer, such sums remaining unexpended shall, one month after the enactment of this statute, be deposited to the debt service account of such school district to be used only for the purposes of retirement of school district bonds and interest thereon.
Section 2. Any sums of money which have been appropriated by the State of Delaware under the provisions of any school construction acts prior to the 1957 School Construction Act which remain unexpended shall, within one month after enactment of this statute, revert to the State of Delaware and shall be deposited to a special account to be applied against future school construction bond requirements of the State. This applies to the State share only.
Any sums of money which have been appropriated by any local school district under the provisions of any school construction acts prior to the 1957 School Construction Act which remain unexpended shall, within one month after enactment of this statute, be deposited to the debt service account of the school district to be used only for the purposes of retirement of school district bonds and interest thereon.
Section 3. For the purpose of determining the sums of money which have been appropriated by the State of Delaware and which remain unexpended in accordance with this Act, the State share of such unexpended funds shall be deemed to mean the same proportion of the total unexpended funds as the proportion of the appropriation of the State of Delaware to the total appropriation of both State and local district funds in each case. The sums of money which have been appropriated by the local district and remain unexpended shall be the balance after unexpended State funds have been deducted from total unexpended funds.
Approved April 16, 1963.
NOTE: The provisions of this Act appear as a note to § 2304, Title 14, Delaware Code.