Delaware § 9006 - Subsidy contract — Pledge of support; terms; records; release of mortgages securing outstanding loans.

§ 9006. Subsidy contract — Pledge of support; terms; records; release of mortgages securing outstanding loans.

A subsidy contract shall be entered into by the issuing officers on behalf of the State. The subsidy contract shall contain a pledge by the State to make payments, in the amount provided by the subsidy contract, from the Health Facilities Subsidy Fund, to the health facilities corporation from money on deposit in such Fund. No subsidy contract shall be entered into by the issuing officers unless they reasonably determine that the amounts from interest earned or profit realized in the Fund will be available to meet annual payments under the subsidy contract as they become due and payable. The issuing officers shall maintain records of all payments made and all payments owing under subsidy contracts. The issuing officers shall have the power to grant releases or satisfactions of mortgages granted to secure loans made from the Health Facility Construction Fund, provided that the Governor shall execute such release or satisfaction.

16 Del. C. 1953, §§  9006, 9007;  56 Del. Laws, c. 363;  59 Del. Laws, c. 455, §  4;  64 Del. Laws, c. 463, §  1;