Delaware § 1806 When no bonds or other obligations outstanding

Delaware Statutes

§ 1806 — When no bonds or other obligations outstanding

Delaware·Title 22·Ch. 18 SPECIAL DEVELOPMENT DISTRICTS

(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 are outstanding with respect to a special development district and no other obligations are outstanding:

(1)The special development district shall be terminated; and

(2)Any moneys remaining in the special fund on the date of termination of the special development district shall be paid to the general fund of the municipality.

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(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 are outstanding with respect to a special development district and no other obligations are outstanding:

(1) The special development district shall be terminated; and

(2) Any moneys remaining in the special fund on the date of termination of the special development district shall be paid to the general fund of the municipality.

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