Delaware § 3314 Bonds not to constitute general obligation debt

Delaware Statutes

§ 3314 — Bonds not to constitute general obligation debt

Delaware·Title 9·Part New Castle County·Ch. 33 NEW CASTLE COUNTY SPECIAL DEVELOPMENT DISTRICTS

Bonds issued under this chapter are a special obligation of the county or Special Development District (SDD) and may not constitute a general obligation debt of the county, or a pledge of the county’s full faith and credit or taxing power. Bonds are nonrecourse to property owners who purchase subject to a TIF or SDD. Property owners who purchase subject to a TIF or SDD shall only be responsible for TIF or SDD obligations determined by the individual assessment of their property.

Free access — add to your briefcase to read the full text and ask questions with AI

Bonds issued under this chapter are a special obligation of the county or Special Development District (SDD) and may not constitute a general obligation debt of the county, or a pledge of the county’s full faith and credit or taxing power. Bonds are nonrecourse to property owners who purchase subject to a TIF or SDD. Property owners who purchase subject to a TIF or SDD shall only be responsible for TIF or SDD obligations determined by the individual assessment of their property.

Delaware § 3314 (Bonds not to constitute general obligation debt) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.