Delaware § 819 Bonds — Assumption of existing library district bonds

Delaware Statutes

§ 819 — Bonds — Assumption of existing library district bonds

Delaware·Title 9·Part Provisions Affecting All Counties·Ch. 8 COUNTY LIBRARIES·Subch. Method of Creating and Operating Library Systems in Kent County

In the event any district library commission created pursuant to Chapter 71 of Title 14 conveys any property to the Kent County Levy Court for which bonds are outstanding, the Kent County Levy Court shall assume all obligations of said bonds if the property is used for a countywide library system but if the property is used for a district library system the cost of paying interest and principal on said bonds shall be included in the annual tax levy on real property in that district only.

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In the event any district library commission created pursuant to Chapter 71 of Title 14 conveys any property to the Kent County Levy Court for which bonds are outstanding, the Kent County Levy Court shall assume all obligations of said bonds if the property is used for a countywide library system but if the property is used for a district library system the cost of paying interest and principal on said bonds shall be included in the annual tax levy on real property in that district only.

Delaware § 819 (Bonds — Assumption of existing library district bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.