§ 9130. Establishment of Community College Infrastructure Fund; purposes; limitations.
§ 9130. Establishment of Community College Infrastructure Fund; purposes; limitations. (a) (1) There is established within the Office of the State Treasurer a special account to be known as the “Community College Infrastructure Fund”, with the intent that the General Assembly fund said account by an annual appropriation of at least $10 million for the […]
§ 9131. Power of Board to issue promissory notes or bonds.
§ 9131. Power of Board to issue promissory notes or bonds. (a) The Board may issue promissory notes or bonds payable to the State for the purpose of carrying out any plan or program for the acquisition of lands, acquisition or construction of buildings, improvements to lands or buildings, or acquisition of equipment as may […]
§ 9132. Faith and credit of the College; exemption of bonds from taxation.
§ 9132. Faith and credit of the College; exemption of bonds from taxation. The faith and credit of the College is expressly pledged for the full and complete payment of the principal of and interest on any promissory notes or bonds authorized to be issued under this chapter. Bonds or notes issued under this chapter […]
§ 9133. Validity of bonds; incontestability.
§ 9133. Validity of bonds; incontestability. When any bonds are sold and delivered under this chapter, the certification by the Board that the bonds have been issued in due compliance with this chapter is conclusive upon the College and every person of the right, power, and authority for the issuance of the bonds, the legality […]
§ 9134. Procedure governing sale of bonds to State.
§ 9134. Procedure governing sale of bonds to State. The State shall purchase any bonds and/or promissory notes to be issued by the College under the authority contained in this chapter or under any other provision of law of this State at private sale. The State may require that the validity of the bonds be […]
§ 9135. Terms and form of bonds.
§ 9135. Terms and form of bonds. Bonds issued under this chapter must meet all of the following conditions: (1) Be in such denomination, in such form, and bear such rate of interest as determined by the State under § 7506 of Title 29; provided, however, that the Board must be consulted regarding the term […]
§ 9136. Designation, numbering, and date of bonds.
§ 9136. Designation, numbering, and date of bonds. Any bonds issued under this chapter must be designated by the name of the College and the year in which the bonds are issued. The bonds must be numbered consecutively and bear the date approved by the Board. Each of the bonds must be numbered consecutively and […]
§ 9137. Place of payment of principal and interest.
§ 9137. Place of payment of principal and interest. The principal of and interest on the bonds must be payable at a state or national bank within or without the State designated by the issuing officers, as “issuing officers” is defined in § 7401 of Title 29. 82 Del. Laws, c. 21, § 4;
§ 9138. Signing and sealing bonds.
§ 9138. Signing and sealing bonds. The bonds must be signed by the president of the College, or the chair, and 1 other member of the Board. The Board may adopt a seal to be used in the execution of the bonds. The Board may, in lieu of the signatures required by this section, authorize […]
§ 9139. Temporary bonds.
§ 9139. Temporary bonds. Until bonds in definite form are prepared, the Board may cause temporary bonds with appropriate coupons to be prepared. Temporary bonds must be executed and signed as provided in §§ 9135 through 9138 of this title. Temporary bonds may be exchanged for definitive bonds at the request of the holder. 82 […]