Delaware § 4650 Application of proceeds

Delaware Statutes

§ 4650 — Application of proceeds

Delaware § 4650

Title9

PartKent County

Ch. 46SEWERS AND SEWER DISTRICTS

This text of Delaware § 4650 (Application of proceeds) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 9, § 4650 (2026).

Text

After payment of the reasonable cost of issuance, including printing or engraving costs, advertising expense and legal and other professional expenses, the proceeds of the sale of any bonds or notes shall be applied only to the purpose or purposes for which the obligations were authorized to be issued, and any excess amount thereof or any amount thereof which for any reason is not necessary for any such purpose, shall:

(1)Be applied to payment of such obligations at not more than their face value; and

(2)Be applied to payment of the first maturing installments of such issue.

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

After payment of the reasonable cost of issuance, including printing or engraving costs, advertising expense and legal and other professional expenses, the proceeds of the sale of any bonds or notes shall be applied only to the purpose or purposes for which the obligations were authorized to be issued, and any excess amount thereof or any amount thereof which for any reason is not necessary for any such purpose, shall:

(1) Be applied to payment of such obligations at not more than their face value; and

(2) Be applied to payment of the first maturing installments of such issue.