CHAPTER 23 - AUTHORIZING THE STATE OF DELAWARE TO BORROW $50,000.00 AND ISSUE BONDS THEREFOR
AN ACT TO AMEND AN ACT ENTITLED "AN ACT AUTHORIZING THE BORROWING OF MONEY AND THE CREATION OF A DEBT BY OR IN BEHALF OF THE STATE OF DELAWARE, FOR THE ERECTION, REPAIRS AND IMPROVEMENTS OF BUILDINGS AT INSTITUTIONS OF THE STATE, AND FOR THE PAYMENT OF A PORTION OF THE COST OF CONSTRUCTION OF THE INLET WITH THE INDIAN RIVER AND REHOBOTH BAYS, AND THE ISSUANCE OF BONDS THEREFOR," BY INCREASING THE AMOUNT THEREOF.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (three-fourths of all the members elected to each branch thereof concurring therein):
Section 1. That Section 1, of Chapter 18, Volume 40, Laws of Delaware, be and the same is hereby amended, by adding at the end thereof, the following:
In addition to the sum of money borrowed or authorized to be borrowed, in accordance with this Section, and in addition to the bonds issued or authorized to be issued, in accordance with this Section, the "issuing officers" are hereby authorized to borrow, upon the faith and credit of the State of Delaware, a sum of money not in excess of Fifty Thousand Dollars ($50,000.00), and to issue bonds of the State of Delaware in a sum not in excess of Fifty Thousand Dollars ($50,000.00) for the said purpose. The said bonds may be issued at once, or from time to time, and the "issuing officers" shall determine all matters in connection therewith, subject to the provisions contained in this Act, and the proceeds from the sale of the said additional bonds shall be added to the sum of One Hundred Thousand Dollars ($100,000.00) hereinabove designated in this Section to be used to pay a portion of the cost of construction of the Inlet into Indian River and Rehoboth Bay.
Approved April 22, 1937.