Delaware § 4160 Deposit and use of proceeds of sale of bonds

Delaware Statutes

§ 4160 — Deposit and use of proceeds of sale of bonds

Delaware·Title 9·Part Kent County·Ch. 41 GOVERNMENT OF KENT COUNTY·Subch. Parks and Recreation Commission

All money received from the sale of any or all of such bonds, after the payment of the charges and expenses connected with the preparation and sale thereof, shall be deposited by the Receiver of Taxes and County Treasurer in any depository bank in the State, to the credit of the county government in a separate account and payments thereof shall be made in the same manner as other payments by the county government. No part of the money thus obtained, except as in this section provided, shall be used for any other purpose than those stated in this subchapter and the purchasers or holders of the bonds shall not be bound to see to or be affected by the application of the money realized from the sale of the bonds.

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All money received from the sale of any or all of such bonds, after the payment of the charges and expenses connected with the preparation and sale thereof, shall be deposited by the Receiver of Taxes and County Treasurer in any depository bank in the State, to the credit of the county government in a separate account and payments thereof shall be made in the same manner as other payments by the county government. No part of the money thus obtained, except as in this section provided, shall be used for any other purpose than those stated in this subchapter and the purchasers or holders of the bonds shall not be bound to see to or be affected by the application of the money realized from the sale of the bonds.

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