Source: http://delcode.delaware.gov/title29/c074/
Timestamp: 2018-03-19 12:34:35
Document Index: 168230642

Matched Legal Cases: ['§ 7401', '§ 7402', '§ 7403', '§ 7404', '§ 7405', '§ 7406', '§ 7407', '§ 7408', '§ 7409', '§ 7410', '§ 7411', '§ 7412', '§ 7413', '§ 7414', '§ 7415', '§ 7416', '§ 7417', '§ 7418', '§ 7419', '§ 7420', '§ 7421', '§ 7422', '§ 7423', '§ 7424', '§ 7425', '§ 7426', '§ 7401', '§ 5', '§ 6', '§ 11', '§ 1', '§ 7402', '§ 7403', '§ 6', '§ 8', '§ 11', '§ 1', '§ 19', '§ 1', '§ 1', '§ 7403', '§ 7404', '§ 1', '§ 6', '§ 11', '§ 7404', '§ 6', '§ 11', '§ 96', '§ 7405', '§ 7405', '§ 6', '§ 11', '§ 7406', '§ 7406', '§ 6', '§ 11', '§ 12', '§ 1', '§ 62', '§ 7407', '§ 7414', '§ 1', '§ 6', '§ 11', '§ 43', '§ 7408', '§ 6', '§ 49', '§ 11', '§ 7409', '§ 7406', '§ 6', '§ 11', '§ 7410', '§ 7411', '§ 6', '§ 11', '§ 1', '§ 7411', '§ 7405', '§ 6', '§ 11', '§ 7412', '§ 7413', '§ 8', '§ 6', '§ 6', '§ 50', '§ 11', '§ 7413', '§ 7412', '§ 6', '§ 11', '§ 1', '§ 7414', '§ 7415', '§ 6', '§ 6', '§ 51', '§ 9', '§ 11', '§ 20', '§ 57', '§ 6', '§ 21', '§ 1', '§ 7415', '§ 7415', '§ 6', '§ 11', '§ 7416', '§ 7416', '§ 6', '§ 11', '§ 12', '§ 7417', '§ 6', '§ 11', '§ 16', '§ 7418', '§ 1', '§ 6', '§ 11', '§ 7419', '§ 6', '§ 5', '§ 11', '§ 3', '§ 11', '§ 2', '§ 21', '§ 7420', '§ 4011', '§ 1910', '§ 60', '§ 6', '§ 5', '§ 11', '§ 13', '§ 21', '§ 7421', '§ 6', '§ 11', '§ 7422', '§ 7422', '§ 2', '§ 9', '§ 2', '§ 6', '§ 5', '§ 11', '§ 1', '§ 24', '§ 14', '§ 21', '§ 7423', '§ 2', '§ 25', '§ 7424', '§ 11', '§ 1', '§ 7425', '§ 2', '§ 31', '§ 7426', '§ 56', '§ 21']

TITLE 29 - CHAPTER 74. BONDS AND NOTES OF THE STATE
§ 7401 § 7402 § 7403 § 7404 § 7405 § 7406 § 7407 § 7408 § 7409 § 7410 § 7411 § 7412 § 7413 § 7414 § 7415 § 7416 § 7417 § 7418 § 7419 § 7420 § 7421 § 7422 § 7423 § 7424 § 7425 § 7426
(1) "Authorization act" means an act of the General Assembly, concurred in by 3/4 of all the members of each House, appropriating funds of the State from the proceeds of bonds authorized to be issued by such act.
29 Del. C. 1953, § 7401; 54 Del. Laws, c. 124; 59 Del. Laws, c. 378, § 5; 62 Del. Laws, c. 146, §§ 6, 7; 64 Del. Laws, c. 131, § 11(a), (f); 65 Del. Laws, c. 119, § 1.;
§ 7402 Issuing authority.
29 Del. C. 1953, § 7403; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 8; 63 Del. Laws, c. 179, § 8; 64 Del. Laws, c. 131, § 11(c), (f); 65 Del. Laws, c. 280, § 1; 66 Del. Laws, c. 92, § 19; 69 Del. Laws, c. 187, § 1; 70 Del. Laws, c. 186, § 1.;
§ 7403 Notes.
29 Del. C. 1953, § 7404; 54 Del. Laws, c. 124; 59 Del. Laws, c. 387, § 1; 62 Del. Laws, c. 146, §§ 6, 9; 64 Del. Laws, c. 131, § 11(f).;
§ 7404 Revenue notes.
62 Del. Laws, c. 146, §§ 6, 10; 64 Del. Laws, c. 131, § 11(f); 65 Del. Laws, c. 87, § 96.;
§ 7405 Full faith and credit of the State pledged.
29 Del. C. 1953, § 7405; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 11; 64 Del. Laws, c. 131, § 11(f).;
§ 7406 Terms, forms and contents of bonds; installment payments.
29 Del. C. 1953, §§ 7406-7409; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 12; 64 Del. Laws, c. 131, § 11(b), (f); 64 Del. Laws, c. 343, § 12(a); 66 Del. Laws, c. 371, § 1; 77 Del. Laws, c. 329, § 62.;
§ 7407 Sale of bonds.
29 Del. C. 1953, § 7414; 54 Del. Laws, c. 124; 60 Del. Laws, c. 372, § 1; 62 Del. Laws, c. 146, §§ 6, 13; 64 Del. Laws, c. 131, § 11(f); 71 Del. Laws, c. 378, § 43.;
§ 7408 Place of payment.
62 Del. Laws, c. 146, §§ 6, 14; 63 Del. Laws, c. 142, § 49; 64 Del. Laws, c. 131, § 11(f).;
§ 7409 Recitals in bonds, notes and revenue notes conclusive on State; negotiability.
29 Del. C. 1953, § 7406; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 15; 64 Del. Laws, c. 131, § 11(f).;
§ 7410 Execution of bonds, notes and revenue notes.
29 Del. C. 1953, § 7411; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 16; 64 Del. Laws, c. 131, § 11(d), (f); 70 Del. Laws, c. 186, § 1.;
§ 7411 Exemption from taxation.
29 Del. C. 1953, § 7405; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 17; 64 Del. Laws, c. 131, § 11(f).;
§ 7412 Registration, recording and cancellation agent.
29 Del. C. 1953, § 7413A; 58 Del. Laws, c. 315, § 8; 59 Del. Laws, c. 378, § 6; 62 Del. Laws, c. 146, §§ 6, 18; 63 Del. Laws, c. 142, § 50; 64 Del. Laws, c. 131, § 11(f).;
§ 7413 Replacement of lost, stolen, mutilated or destroyed obligations.
(a) The State Treasurer may issue a replacement bond, with coupons pertaining thereto, a replacement note or a replacement revenue note, to replace unmatured bonds and coupons, notes or revenue notes, respectively, which have been lost, stolen, mutilated or destroyed upon receipt of:
(1) Satisfactory proof: (i) of ownership and (ii) of loss or destruction, or, in the case of a mutilated or destroyed bond, coupon, note or revenue note, the mutilated or destroyed bond, coupon, note or revenue note;
(2) Adequate security to indemnify the State and the bank or banks at which the bond, coupon, note or revenue note is payable against any loss that may be suffered by them on account of the issuance of such replaced obligation; and
(3) Payment of the cost of preparation of the replacement obligation.
29 Del. C. 1953, § 7412A; 57 Del. Laws, c. 279; 62 Del. Laws, c. 146, §§ 6, 19; 64 Del. Laws, c. 131, § 11(f); 70 Del. Laws, c. 186, § 1.;
§ 7414 Deposit of money; advances from funds.
29 Del. C. 1953, § 7415; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 20; 62 Del. Laws, c. 407, § 6; 63 Del. Laws, c. 142, § 51; 63 Del. Laws, c. 179, § 9; 64 Del. Laws, c. 131, § 11(f); 66 Del. Laws, c. 92, § 20; 73 Del. Laws, c. 95, § 57; 74 Del. Laws, c. 221, § 6; 75 Del. Laws, c. 88, § 21(13); 75 Del. Laws, c. 254, § 1.;
§ 7415 Use of proceeds of bonds and notes.
29 Del. C. 1953, § 7415; 54 Del. Laws, c. 124; 62 Del. Laws, c. 146, §§ 6, 21; 64 Del. Laws, c. 131, § 11(f).;
§ 7416 Timetable for use of funds and the sale of bonds and notes; commencement of authorized project.
(a) No funds appropriated by an authorization act shall be encumbered more than 3 years after the passage of such act for any individual project unless:
(1) Such project has progressed into any of the following phases prior to that date: Planning, initial engineering, land, building or equipment acquisition, construction or reconstruction; and
(2) Eighty-five percent of the project costs have been expended on 1 or more of such phases.
(b) No bonds or notes shall be issued or funds borrowed pursuant to an authorization act, 4 years after the passage of such act, except:
(1) As provided in 54 Del. Laws, c. 345, as amended (Chapter 75 of this title, as amended); and
(2) With respect to bonds authorized prior to this chapter which shall remain subject to the law under which they were originally authorized.
29 Del. C. 1953, § 7416; 55 Del. Laws, c. 337; 62 Del. Laws, c. 146, §§ 6, 22; 64 Del. Laws, c. 131, § 11(f); 64 Del. Laws, c. 343, § 12(e), (f).;
§ 7417 Payment of debt service; first lien.
62 Del. Laws, c. 146, §§ 6, 23; 64 Del. Laws, c. 131, § 11(f); 66 Del. Laws, c. 360, § 16.;
§ 7418 Use of unexpended funds.
60 Del. Laws, c. 135, § 1; 62 Del. Laws, c. 146, §§ 6, 24; 64 Del. Laws, c. 131, § 11(f).;
§ 7419 Approval of plans, specifications, estimates and cash flows of projects.
62 Del. Laws, c. 146, §§ 6, 25; 63 Del. Laws, c. 189, § 5(h); 64 Del. Laws, c. 131, § 11(f); 65 Del. Laws, c. 434, §§ 3, 4; 69 Del. Laws, c. 10, §§ 11, 12; 69 Del. Laws, c. 67, § 2; 75 Del. Laws, c. 88, §§ 21(13), 37.;
§ 7420 Project restrictions.
(a) All new construction and/or reconstruction of existing structures financed with the proceeds of bonds or notes shall comply with flood plain management requirements adopted by the municipality in which such structure is located pursuant to the National Flood Insurance Act of 1968 [42 U.S.C. § 4011 et seq.], as amended, or successor acts. If any such structure is in a flood program nonparticipating municipality, then the State shall comply with the criteria set forth in Title 24, Code of Federal Regulations, §§ 1910.3, 1910.4 and 1910.5 [now §§ 60.3, 60.4, 60.5 and 60.6] issued pursuant to the National Flood Insurance Act of 1968, as amended, or successor acts.
(d) The department, agency or other body of the State to which proceeds of bonds or notes are appropriated shall require the inspection of buildings to be constructed, reconstructed or rehabilitated with the proceeds of bonds or notes, and, at the discretion of the Director of the Office of Management and Budget, shall require the inspection of other structures to be financed with the proceeds of such obligations excluding highways, roads and bridges. Proceeds of bonds or notes shall be allocated to provide for the cost of inspecting the projects to be financed with such funds. The portion of the total funds appropriated to the cost of any such inspection shall not exceed the following percentages of such total funds appropriated to the cost of such projects:
(1) Projects with a maximum cost in excess of $1,000,000 1 1/2%
(3) Reconstruction and renovation projects 1 3/4%
The department or agency of the State to which proceeds of bonds or notes are appropriated shall let contracts for such inspection. If the total maximum cost of a project is less than $50,000, the employment of an inspector shall be discretionary with the department, agency or other body to whom such funds are appropriated. If a department, agency or other body retains a construction manager, retention of an inspector shall be discretionary with the department, agency or other body regardless of the total maximum cost of the project. In contracting for the inspection of such projects, first preference shall be given to an experienced and able Delaware organization offering to provide such inspection services on a nonprofit, at-cost basis. Such contracts shall not be deemed public works contracts as defined in 54 Del. Laws, c. 106, as amended (Chapter 69 of this title, as amended). If no such organization is able or willing to perform such inspection services on such nonprofit, at-cost basis, then the contracts for such services may be let with profit-making organizations subject to 54 Del. Laws, c. 106, as amended (Chapter 69 of this title, as amended).
62 Del. Laws, c. 146, §§ 6, 26; 63 Del. Laws, c. 189, § 5(h); 64 Del. Laws, c. 131, §§ 11(f), 17(a); 69 Del. Laws, c. 10, § 13; 75 Del. Laws, c. 88, § 21(13).;
§ 7421 Bonds, notes and revenue notes as legal investments for institutions and fiduciaries; legal deposit.
62 Del. Laws, c. 146, §§ 6, 27; 64 Del. Laws, c. 131, § 11(f).;
§ 7422 Limitations on debt and other obligations.
(c) No tax supported obligation of the State and no Transportation Trust Fund debt obligation of the Delaware Transportation Authority may be incurred if the aggregate maximum annual payments on all such outstanding obligations (plus certain lease obligations described below) will exceed 15% of the estimated aggregate General Fund revenue from all sources (not including unencumbered funds remaining at the end of the previous fiscal year), plus estimated Transportation Trust Fund revenue, in both cases for the fiscal year following the fiscal year in which such obligation is incurred, such estimated revenue as determined by the most recent projections made by the Delaware Economic and Financial Advisory Council and adjusted, if appropriate, by the fiscal impact of subsequently enacted legislation as certified by the Secretary of Finance. The lease obligations referred to in the preceding sentence shall mean: (i) All obligations of the State or any agency or authority thereof which are payable from taxes, fees, permits, licenses and fines imposed or approved by the General Assembly; and (ii) all obligations of the Delaware Transportation Authority which are payable from the Transportation Trust Fund, which in either case extend beyond 1 year and are with respect to the lease, occupancy or use of property provided that such lease obligations shall not include any obligations, the lease payments with respect to which are reasonably expected to be offset (as determined by the Secretary of Finance) by lease payments, user fees, federal grants or other payments from some nonstate source. For the purposes of this subsection, the maximum annual payments on the above-described lease obligations shall be as of the most recent date available as certified by the Secretary of Finance.
(e) There shall be attached to every bill and amendment introduced in the House of Representatives and/or in the Senate, of the General Assembly, which authorizes the incurrence of a tax supported obligation described in subsection (b) of this section, a debt statement in substantially the following form:
Office of Secretary of Finance
(2) Multiply by 5% x .05
(3) Maximum aggregate principal amount of new tax-supported obligations which may be authorized by the State
Date Secretary of Finance
29 Del. C. 1953, §§ 7422, 7423; 55 Del. Laws, c. 168, § 2; 57 Del. Laws, c. 176; 58 Del. Laws, c. 315, § 9; 58 Del. Laws, c. 420; 61 Del. Laws, c. 375, § 2; 62 Del. Laws, c. 146, §§ 6, 28; 63 Del. Laws, c. 189, § 5(h); 64 Del. Laws, c. 131, § 11(f); 68 Del. Laws, c. 7, § 1; 68 Del. Laws, c. 156, §§ 24(a)-(g); 69 Del. Laws, c. 10, § 14; 75 Del. Laws, c. 88, § 21(13).;
§ 7423 DEFAC projections and monitoring of debt limits.
68 Del. Laws, c. 7, § 2; 68 Del. Laws, c. 156, § 25.;
§ 7424 Right to obtain bondholder lists.
64 Del. Laws, c. 131, § 11(e), (f); 70 Del. Laws, c. 186, § 1.;
§ 7425 Capital appreciation bonds and discount bonds.
66 Del. Laws, c. 371, § 2; 69 Del. Laws, c. 386, § 31.;
§ 7426 Capital appreciation bonds and discount bonds; sale by State.
74 Del. Laws, c. 308, § 56; 75 Del. Laws, c. 88, § 21(13).;