Delaware § 5506 When no bonds or  other obligations outstanding

Delaware Statutes

§ 5506 — When no bonds or other obligations outstanding

Delaware·Title 9·Part Kent County·Ch. 55 Kent County Special Development Districts

(a)When no bonds are outstanding, the County may use money in the special fund for payment or reimbursement of debt service on other obligations that the County is obligated to pay under an agreement described in § 5502(b)(3) of this title.

(b)When no bonds are outstanding with respect to a special development district and no other obligations are outstanding:

(1)The special development district shall be terminated; and

(2)Any moneys remaining in the special fund on the date of termination of the special development district shall be paid to the general fund of the County.

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(a) When no bonds are outstanding, the County may use money in the special fund for payment or reimbursement of debt service on other obligations that the County is obligated to pay under an agreement described in § 5502(b)(3) of this title.

(b) When no bonds are outstanding with respect to a special development district and no other obligations are outstanding:

(1) The special development district shall be terminated; and

(2) Any moneys remaining in the special fund on the date of termination of the special development district shall be paid to the general fund of the County.

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