Delaware Code Title 14 Sec. 9131 – Power of Board to issue promissory notes or bonds
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(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 be authorized by this chapter.
Terms Used In Delaware Code Title 14 Sec. 9131
- Board: means the Board of Trustees of the Delaware Technical and Community College. See Delaware Code Title 14 Sec. 9101
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) Notwithstanding subsection (a) of this section, the Board may not issue promissory notes or bonds until the promissory notes or bonds and the corresponding plan or program under subsection (a) of this section have been authorized by the General Assembly in a bond and capital improvement act.