(a) There shall be appropriated annually to municipalities within the State beginning in the State's 1998 fiscal year and each subsequent year thereafter in conjunction with, under, and as a portion of, the Delaware Transportation Trust Fund within the Capital Transportation Program, a sum in the amount as appropriated in the annual Bond and Capital Improvement Act. The sum so appropriated shall be transferred to the Municipal Street Aid Fund by the State Treasurer and distributed to municipalities as provided in this subchapter.
(b) When deemed in full compliance with the provisions of § 5165(b) of this title, including the annual submission of an affidavit that will certify the municipality's boundary, mileage and population totals, the State Treasurer is authorized to process payments to municipalities in the following manner:
(1) Recipients of municipal street aid whose total fiscal year share is $50,000 or less shall be paid 1 lump-sum in August.
(2) Recipients of municipal street aid whose total fiscal year share is greater than $50,000 but not more than $200,000 shall be paid in 2 equal installments, 1 in August and the other in January.
(3) Recipients of municipal street aid whose total fiscal year share exceeds $200,000 shall be paid in 4 equal installments, 1 each in August, October, January and April of each year.
(c) Disbursements can be accrued for up to 3 years for larger construction projects.