Delaware Governor Signs 2004 Budget, $577 Million Bond Bill

Newman, Emily
June 2003
Bond Buyer;6/27/2003, Vol. 344 Issue 31666, p3
Trade Publication
The Delaware General Assembly late Wednesday passed the fiscal 2004 budget and a larger bond bill than governor Ruth Ann Minner had previously requested. The governor signed both the $2.4 billion operating budget and a $577 million bond bill into law yesterday afternoon. The bond bill, which initially was proposed at $392.4 million, will mainly fund state construction projects. Because state law imposes a limit on the amount of debt incurred each year, the bond bill allocation can only be increased by transferring money from the general fund. That limit currently stands at 5% of the total operating budget, about $122 million for next year.


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