Title 9, Counties

§ 5505. Special fund. (a) By resolution, the Levy Court may: (1) Designate by resolution an area or areas within the County as a special development district even though no bonds authorized by this chapter have been issued by the County with respect to that special development di…

§ 5506. When no bonds or other obligations outstanding. (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)(…

§ 5507. Adoption of ordinance to implement authority. (a) In order to implement the authority conferred upon it by this chapter to issue bonds, the Levy Court shall adopt an ordinance that: (1) Specifies and describes the proposed undertaking and states that it has complied with …

§ 5508. Taxation of bonds. The principal amount of the bonds, the interest payable on the bonds, their transfer and any income derived from the transfer, including any profit made in the sale or transfer of the bonds, shall be exempt from taxation by the State and by the counties…

§ 5509. Bond form; signatures; maturity; manner of sale. (a) All bonds shall be in fully registered form. Each of the bonds shall be deemed to be a security as defined in § 8-102 of Title 6, whether or not it is either 1 of a class or series or by its terms is divisible into a cl…

§ 5510. Bonds issued are securities. Bonds issued under this chapter are securities in which all public officers and public bodies of the State and its political subdivisions, all insurance companies, state banks and trust companies, national banking associations, savings banks, …

§ 5511. Powers granted are supplemental to other laws. The powers granted under this chapter shall be regarded as supplemental and additional to powers conferred by other laws, and may not be regarded as in derogation of any powers now existing. 81 Del. Laws, c. 26, § 1;

§ 5512. Construction of chapter. This chapter, being necessary for the welfare of the State and its residents, shall be liberally construed to effect the purpose stated in § 5502(b) of this title. 81 Del. Laws, c. 26, § 1;

§ 5513. Special taxes on real property as alternative to ad valorem taxes. (a) As an alternative to levying ad valorem taxes under this chapter, the Levy Court may levy special taxes on real property in a special development district to cover the cost of improvements, including i…

§ 5514. Bonds not to constitute general obligation debt. Bonds issued under this chapter are a special obligation of the County and may not constitute a general obligation debt of the County, or a pledge of the County’s full faith and credit or taxing power. Bonds are nonrecourse…

§ 5515. Special development district consistency with certified comprehensive plan. The use of lands in a special development district shall be consistent with the comprehensive plan for the area as certified pursuant to § 9103(f) of Title 29.81 Del. Laws, c. 26, § 1;

§ 5516. Limitation on ad valorem or special taxes within Special Development District. The levy of an ad valorem or special tax pursuant to § 5502(a)(2) or § 5513(a) of this title shall not be applicable to and shall not be imposed on special betterments property as defined in § …