Delaware § 1506 Prohibitions

Delaware Statutes

§ 1506 — Prohibitions

Delaware·Title 22·Ch. 15 MUNICIPAL BUSINESS IMPROVEMENT DISTRICTS

(a)No authority or management company shall issue bonds or other forms of securities; nor shall any authority or management company pledge the full faith and credit of the municipality in which its district lies for the payment of its debts, or of the State.

(b)No authority or management company shall undertake or make any assessment in support of the provision of a service which is presently offered by the municipality in which the district lies.

(c)No authority or management company may make any assessment for the provision of any service which is not for the direct benefit and advantage of the business improvement district.

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(a) No authority or management company shall issue bonds or other forms of securities; nor shall any authority or management company pledge the full faith and credit of the municipality in which its district lies for the payment of its debts, or of the State.

(b) No authority or management company shall undertake or make any assessment in support of the provision of a service which is presently offered by the municipality in which the district lies.

(c) No authority or management company may make any assessment for the provision of any service which is not for the direct benefit and advantage of the business improvement district.

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