§ 1805. Special fund.
§ 1805. Special fund. (a) By resolution, the governing body of the municipality may: (1) Designate by resolution an area or areas within the municipality as a special development district even though no bonds authorized by this chapter have been issued by the municipality with respect to that special development district or are then outstanding; […]
§ 1806. When no bonds or other obligations outstanding.
§ 1806. When no bonds or other obligations outstanding. (a) When no bonds are outstanding, the municipality may use money in the special fund for payment or reimbursement of debt service on other obligation that the municipality is obligated to pay under an agreement described in § 1802(b)(3) of this title. (b) When no bonds […]
§ 1807. Adoption of ordinance to implement authority.
§ 1807. Adoption of ordinance to implement authority. (a) In order to implement the authority conferred upon it by this chapter to issue bonds, the governing body of the municipality shall adopt an ordinance that: (1) Specifies and describes the proposed undertaking and states that it has complied with § 1805 of this title; (2) […]
§ 1808. Taxation of bonds.
§ 1808. Taxation of bonds. The principal amount of the bonds, the interest payable on the bonds, their transfer and any income derived from the transfer, including any profit made in the sale or transfer of the bonds, shall be exempt from taxation by the State and by the counties and municipalities of the State. […]
§ 1809. Bond form; signatures; maturity; manner of sale.
§ 1809. Bond form; signatures; maturity; manner of sale. (a) All bonds shall be in fully registered form. — Each of the bonds shall be deemed to be a security as defined in § 8-102 of Title 6, whether or not it is either 1 of a class or series or by its terms is […]
§ 1810. Bonds issued are securities.
§ 1810. Bonds issued are securities. Bonds issued under this chapter are securities in which all public officers and public bodies of the State and its political subdivisions, all insurance companies, state banks and trust companies, national banking associations, savings banks, savings and loan associations, investment companies, executors, administrators, trustees and other fiduciaries may properly […]
§ 1811. Powers granted are supplemental to other laws.
§ 1811. Powers granted are supplemental to other laws. The powers granted under this chapter shall be regarded as supplemental and additional to powers conferred by other laws, and may not be regarded as in derogation of any powers now existing. 74 Del. Laws, c. 145, § 2;
§ 1812. Construction of chapter.
§ 1812. Construction of chapter. This chapter, being necessary for the welfare of the State and its residents, shall be liberally construed to effect the purpose stated in § 1802(b) of this title. 74 Del. Laws, c. 145, § 2;
§ 1813. Special taxes on real property as alternative to ad valorem taxes.
§ 1813. Special taxes on real property as alternative to ad valorem taxes. (a) As an alternative to levying ad valorem taxes under this chapter, the governing body of the municipality may levy special taxes on real property in a special development district to cover the cost of infrastructure improvements. (b) In determining the basis […]
§ 1814. Bonds not to constitute general obligation debt.
§ 1814. Bonds not to constitute general obligation debt. Bonds issued under this chapter are a special obligation of the municipality and may not constitute a general obligation debt of the municipality, or a pledge of the municipality’s full faith and credit or taxing power. 74 Del. Laws, c. 145, § 2;