Delaware Code Title 29 Sec. 8788 – Appropriated funds
(a) If the Corporation‘s final budget for any fiscal year includes a proposal for an appropriation from the General Assembly for operating or capital funds, the budget shall be approved by the Chair of the Corporation before its submission to the General Assembly as part of the Governor’s proposed capital or operating budget. Any such appropriation shall be designated for and allocated to the Port Account.
Terms Used In Delaware Code Title 29 Sec. 8788
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Diamond State Port Corporation. See Delaware Code Title 29 Sec. 8782
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) Any capital expenditures of any such further appropriated moneys or of moneys derived from any other source, but not including Twenty-First Century Fund moneys, which expenditures within any 1 fiscal year in the aggregate exceed $2 million, shall be made pursuant to a request by a resolution passed by 7 of 9 directors of the Corporation and delivered to the State Budge Director which resolution certifies that the request is in compliance with the Corporation’s legislative purpose and function.