§ 3309 — Bond form; signatures; maturity; manner of sale

(a) All bonds shall be in fully registered form. Each of the bonds shall be deemed to be a security as defined in § 8-102 of Title 6, whether or not it is either 1 of a class or series or by its terms is divisible into a class or series of instruments.

(b) All bonds shall be signed manually or in facsimile by the county executive, and the seal of the county shall be affixed to the bonds and attested by chief financial officer or other similar administrative officer of the county. If any officer whose signature or countersignature appears on the bonds ceases to be such officer before delivery of the bonds, the officer’s signature or countersignature shall nevertheless be valid and sufficient for all purposes the same as if the officer had remained in office until delivery.

(c) All bonds shall mature not later than 30 years from their date of issuance.

(d) All bonds shall be sold in the manner, either at public or private sale, and upon the terms, as county council deems best. Any contract for the acquisition of property may provide that payment shall be made in bonds.

Legislative History

76 Del. Laws, c. 187, § 2