AN ACT TO AMEND TITLE 16, DELAWARE CODE, SECTION 9005, RELATING TO REPAYMENT OF HOSPITAL CAPITAL IMPROVEMENT LOANS BY PROVIDING FOR THE FIRST PAYMENT ON LOANS MADE UNDER THIS SECTION TO BE MADE THIRTY (30) MONTHS AFTER THE HOSPITAL RECEIVES THE LOAN OR SOONER AT THE ELECTION OF THE HOSPITAL.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Title 16, Delaware Code, § 9005, is hereby amended by adding thereto a new subsection (e) to read as follows:
(e) A Hospital which has been or will be granted a loan under the provisions of this chapter shall make its first annual payment of interest and principal on each separate loan advance thirty (30) months after it receives each separate loan advance or sooner at the election of the Hospital. This thirty (30) month period or lesser time at the election of the Hospital shall be in addition to the time for repayment as provided in subsection (a) of this section.
Approved July 3, 1970.