Loading chat...
DE SB125
Bill
AI Summary
SB125 Summary
-
Authorizes issuance of $207,290,000 in general obligation bonds and $70,284,131 in local share school bonds for fiscal year 2018 capital projects, with bonds maturing within 20 years.
-
Appropriates $317,750,500 from the Transportation Trust Fund for road systems ($176,300,971), transit systems ($64,188,797), grants and allocations ($22,680,000), and support systems ($54,580,732).
-
Authorizes $590,017,598 in total capital improvements across state agencies including education ($132,542,464), health and social services ($6,520,000), corrections ($3,135,400), and natural resources ($16,656,891).
-
Establishes reversion procedures for unspent authorizations remaining unexpended or unencumbered by June 30, 2020, excluding Transportation Trust Fund balances.
-
Appropriates $23,523,400 in bond premium funds and $3,568,533 in special Moody's settlement funds for specific capital projects and departmental improvements.
Legislative Description
A Bond And Capital Improvements Act Of The State Of Delaware And Certain Of Its Authorities For The Fiscal Year Ending June 30, 2018; Authorizing The Issuance Of General Obligation Bonds Of The State; Appropriating Funds From The Transportation Trust Fund; Authorizing The Issuance Of Revenue Bonds Of The Delaware Transportation Authority; Appropriating Special Funds Of The Delaware Transportation Authority; Appropriating General Funds And Special Funds Of The State; Reverting And Reprogramming Certain Funds Of The State; Directing The Deposit Of Certain Funds To The General Fund; Specifying Certain Procedures, Conditions And Limitations For The Expenditure Of Such Funds; And Amending Certain Statutory Provisions.
Last Action
Signed by Governor
7/3/2017