Delaware § 5410 Agreements to pay revenue from taxes on tax increment into special fund

Delaware Statutes

§ 5410 — Agreements to pay revenue from taxes on tax increment into special fund

Delaware·Title 9·Part Kent County·Ch. 54 KENT COUNTY TAX INCREMENT FINANCING ACT

A municipality, school district, or other taxing body that taxes property within the County which is not an issuing body may pledge, by written agreement, that some or all of its property taxes levied on the tax increment shall also be paid into a special fund created pursuant to § 5407 of this title. Such agreement shall be between the County and the taxing body and shall run to the benefit of and be enforceable on behalf of any holder of the bonds.

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A municipality, school district, or other taxing body that taxes property within the County which is not an issuing body may pledge, by written agreement, that some or all of its property taxes levied on the tax increment shall also be paid into a special fund created pursuant to § 5407 of this title. Such agreement shall be between the County and the taxing body and shall run to the benefit of and be enforceable on behalf of any holder of the bonds.

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