Delaware § 1315 Tax exemption

Delaware Statutes

§ 1315 — Tax exemption

Delaware·Title 22·Ch. 13 MUNICIPAL ELECTRIC COMPANIES

(a)All bonds of a municipal electric company are declared to be issued on behalf of the State for an essential public and governmental purpose and to be debts of a state municipal corporation.

(b)The property of a company including any pro rata share of any property owned by a company in conjunction with any other person or public agency is declared to be a public property used for essential public and governmental purposes and such property or pro rata share, a company and its income shall be exempt from all taxes of the State or any state public body.

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(a) All bonds of a municipal electric company are declared to be issued on behalf of the State for an essential public and governmental purpose and to be debts of a state municipal corporation.

(b) The property of a company including any pro rata share of any property owned by a company in conjunction with any other person or public agency is declared to be a public property used for essential public and governmental purposes and such property or pro rata share, a company and its income shall be exempt from all taxes of the State or any state public body.

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