§ 4655 — Certain agreements forbidden

In the issuance or sale of bonds or notes it shall be unlawful for the governing body, or any member or members thereof, or any official of the County of Kent to:

(1) Agree to pay directly or indirectly any bonus for the issuance or for the sale of the obligations authorized, and every such payment may be recovered by the County in an action at law;

(2) Enter into any agreement with any original purchaser or his or her representative regarding the deposit or disposition of any moneys received or to be received from such sale and every such agreement shall be void;

(3) Enter into any agreement in the nature of a service contract providing for publication of notice of sale, and printing of bonds or notes, and for the providing of a legal opinion or for any technical or advisory services used in connection with the issuance of bonds or notes, unless such agreement provides that any advisor, agent, technician or any other person acting in an advisory capacity agrees not to offer to purchase or to participate in the purchase, or in the distribution of the bonds or notes at public or private sale; and any agreement to the contrary shall be void and any money or compensation paid thereon may be recovered by the County in an action at law.

Legislative History

9 Del. C. 1953, § 4654; 56 Del. Laws, c. 103, § 13 ; 70 Del. Laws, c. 186, § 1