§ 926 — Use of airport revenues

The revenues obtained from the ownership, control and operation of any airport or other air navigation facility shall be used, first, to finance the maintenance and operating expenses thereof, and, second, to make payments of interest on and current principal requirements of any outstanding bonds or certificates issued for the acquisition or improvement thereof, and to make payment of interest on any mortgage heretofore made. Revenues in excess of the foregoing requirements may be applied to finance the extension or improvement of the airport or other air navigation facilities.

Legislative History

Code 1935, c. 167; 45 Del. Laws, c. 300, § 7(3) ; 2 Del. C. 1953, § 926