Delaware Code Title 17 Sec. 1806 – Audit; assumption of obligations
In order to provide for an orderly transition of bridge operations, upon the effective date of this chapter, the Authority shall promptly arrange with the Delaware Interstate Highway Division for the preparation of an independent audit and accounting of its assets, liabilities and operations, and for fixing a date upon which the books and records of the said Division shall be closed and from and after which the Authority shall undertake the operation and control of the said Bridge; and it shall at the same time provide for the assumption of all outstanding obligations of the Delaware Interstate Highway Division for the construction, maintenance, improvement and operation of the said Bridge and shall take over all personnel, maps, books, records, revenues, funds and other assets relating thereto.
17 Del. C. 1953, § ?1806; 53 Del. Laws, c. 146.;
Terms Used In Delaware Code Title 17 Sec. 1806
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Construction: means the first complete building or rebuilding of a highway after it has been converted into a state highway upon a modern engineering design with a permanent foundation of cement, concrete or other equally hard and permanent material and a top dressing of suitable material to economically withstand the wear of the particular traffic to which such highway will probably be subject with an adequate drainage system so that such highway, with reasonable maintenance, can reasonably be expected to endure for upwards of 40 years. See Delaware Code Title 17 Sec. 101
- highway: include any public way or road or portion thereof and any sewer, drain or drainage system connected therewith and any bridge, culvert, viaduct or other construction or artificial way used in connection therewith and anything which is accessory to any of the same or to the use thereof. See Delaware Code Title 17 Sec. 101
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.