CHAPTER 62 - APPROPRIATION FOR PAYMENT OF MATURITIES ON CERTAIN HIGHWAY IMPROVEMENT BONDS AND STATE AID ROAD BONDS
AN ACT APPROPRIATING MONEYS FROM THE STATE TREASURY FOR THE PURPOSE OF PAYING MATURITIES ON CERTAIN HIGHWAY IMPROVEMENT BONDS AND STATE AID ROAD BONDS ISSUED BY THE LEVY COURTS OF NEW CASTLE, KENT AND SUSSEX COUNTIES, AND MATURING DURING THE FISCAL BIENNIUM OF THE STATE OF DELAWARE, ENDING JUNE 30, 1939.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (three-fourths of all members elected to each branch thereof concurring therein):
Section 1. On or before June 1, 1937, the Levy Court Commissioners of the Counties of New Castle, Kent and Sussex, respectively, shall certify to the State Treasurer the sums of money necessary to meet the requirements for paying maturities of principal falling due on the Highway Improvement Bonds and State Aid Road Bonds of each of the said Counties during the fiscal biennium of the State of Delaware beginning on July 1, 1937, and ending on June 30, 1939.
Section 2. The Highway Improvement Bonds and State Aid Road Bonds, heretofore referred to in this Act, are as follows:
New Castle County Bonds authorized under the following acts: Chapter 51 of Volume 24, Laws of Delaware, Chapter 101 of Volume 29, Laws of Delaware, Chapter 97 of Volume 30, Laws of Delaware, Chapter 98 of Volume 30, Laws of Delaware, Chapter 88 of Volume 32, Laws of Delaware, Chapter 94 of Volume 33, Laws of Delaware and Chapter 103 of Volume 34, Laws of Delaware; Kent County Bonds authorized under the following acts: Chapter 174 of Volume 27, Laws of Delaware, Chapter 104 Volume 29, Laws of Delaware, Chapter 23 of Volume 31, Laws of Delaware, Chapter 97 of Volume 33, Laws of Delaware, Chapter 104 of Volume 34, Laws of Delaware and Chapter 128 of Volume 40, Laws of Delaware; Sussex County Bonds authorized under the following acts: Chapter 132 of Volume 40, Laws of Delaware, Chapter 131 of Volume 40, Laws of Delaware, and Chapter 105 of Volume 34, Laws of Delaware.
Section 3. There is hereby appropriated and authorized to be paid out of the State Treasury to the Levy Court Commissioners of New Castle County, and to the Levy Court Commissioners of Kent County, and to the Levy Court Commissioners of Sussex County, for the use of said Counties respectively such sums of money as shall be necessary for the payment of maturities of principal on all the said bonds set forth in Section 2 of this Act, to be used by said respective Levy Court Commissioners for the purpose of paying said respective maturities of principals and for no other purpose. The moneys hereby appropriated and authorized are intended to embrace the sums necessary to provide for the said maturities of principal on the said Highway Improvement Bonds and the said State Aid Road Bonds of each of the said Counties falling due during the period from July 1, 1937, up to June 30, 1939, both inclusive.
Section 4. Within ten days prior to the maturity date of any of the bonds set forth in Section 2 of this Act, it shall be the duty of the State Treasurer and he is hereby directed and required to pay to the Receiver of Taxes and County Treasurer of the respective Counties, the sums of money certified under Section 1 of this Act to be necessary for the payment of maturities of principal of the said bonds coming due as aforesaid.
Section 5. The Levy Courts of the respective Counties in fixing the annual rate of taxation shall not provide for the raising of any sum of money for the payment of maturities on any of the bonds in this Act referred to.
Section 6. The moneys hereby appropriated and authorized to be paid out of the State Treasury shall be paid out of the funds now or hereafter allocated to the State Highway Department.
Approved April 15, 1937.