CHAPTER 387
FORMERLY
HOUSE BILL NO. 1029
AN ACT TO AMEND CHAPTER 74, TITLE 29, DELAWARE CODE RELATING TO BOND ANTICIPATION NOTES OF THE STATE AND ELIMINATING THE INTEREST RATE LIMITATION ON BOND ANTICIPATION NOTES OF THE STATE OF DELAWARE.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all members elected to each House thereof concurring therein):
Section 1. Section 7404 (a), Title 29, Delaware Code, is amended by striking the first sentence thereof which reads "In anticipation of the issuance of bonds, the Issuing Officers may issue and sell notes of the State at either public or private sale for not less than par and accrued interest and at a rate which shall not exceed 6% per annum.", and substituting therefor the following sentence: "In anticipation of the issuance of bonds, the Issuing Officers may issue and sell notes of the State at either public or private sale for not less than par and accrued interest, at a rate to be determined by the Issuing Officers."
Approved June 25, 1974.