Delaware § 1319 Exemption from taxation

Delaware Statutes

§ 1319 — Exemption from taxation

Delaware § 1319

Title2

PartTransportation Department

Ch. 13DELAWARE TRANSPORTATION AUTHORITY

This text of Delaware § 1319 (Exemption from taxation) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 2, § 1319 (2026).

Text

The State covenants with the purchasers and with all subsequent holders, owners and transferees of bonds, in consideration of the acceptance of and payment for the bonds, that the bonds (which include interest thereon), and their transfer, shall be exempt from taxation by the State and its political subdivisions, except for estate, inheritance or gift taxes.

Notwithstanding the foregoing, the Authority may elect to issue bonds, the interest on which is subject to federal income taxation.

Any real or personal property of the Authority and all revenues of the Authority shall be exempt from any and all taxation by the State or any political subdivision thereof for any purpose.

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The State covenants with the purchasers and with all subsequent holders, owners and transferees of bonds, in consideration of the acceptance of and payment for the bonds, that the bonds (which include interest thereon), and their transfer, shall be exempt from taxation by the State and its political subdivisions, except for estate, inheritance or gift taxes.

Notwithstanding the foregoing, the Authority may elect to issue bonds, the interest on which is subject to federal income taxation.

Any real or personal property of the Authority and all revenues of the Authority shall be exempt from any and all taxation by the State or any political subdivision thereof for any purpose.