AN ACT TO AMEND SECTION 504, TITLE 22, DELAWARE CODE, RELATING TO PARKING AUTHORITIES.
Section 1. Section 504 (a), Title 22, Delaware Code, as amended by 49 Delaware Laws, Chapter 72, is further amended by repealing the last sentence thereof and substituting in lieu of such sentence, new sentences as follows:
Any such lease shall be granted by the Authority to the highest and best bidder, upon terms specified by the Authority, after due public notice has been given, asking for competitive bids ; provided, however, that if after such public notice no bid is received and/or the Authority rejects any bid or bids received, thereafter the Authority may negotiate any such lease or leases without further public notice but on a basis more favorable than that contained in any bid or bids rejected, if any. The phrase "due public notice", as used in this section, shall mean a notice published at least ten days before the award of any such lease in a newspaper of general circulation published in a municipality where the Authority has its principal office, and if no newspaper is published therein, then by publication in a newspaper of general circulation in the County where the Authority has its principal office. The Authority may reject any or all bids if, in the opinion of the Authority, any such lease granted as a result of any such bid or bids would not be adequate or feasible for the financing and operation of such facilities.
Section 2. Section 504 (b) Title 22, Delaware Code, is amended by repealing subparagraph (1) thereof and substituting in lieu thereof a new subparagraph (1) to read as follows:
all of its Bonds shall have been paid or provisions made for such payment, and until all of its other obligations shall have been discharged.