Delaware Code (Titles 8, 9, 25, 30)
9 Del. C. § 2311
Bonds; power to issue; terms; authority of County Executive
# (a)
The County Council may issue bonds of New Castle County to finance the cost of constructing sewage disposal facilities in any sanitary sewer district. The moneys raised by the issuance of such bonds shall be held in a separate account and shall be expended only for the construction of sewage disposal facilities in the sanitary sewer district for which the bonds are issued.
# (b)
The bonds shall bear interest at the most advantageous rate attainable by the County Council and the income therefrom shall not be subject to state taxation. Each issue of such bonds shall be payable within 40 years after the date of the bonds of such issue. The interest coupons and face amount of the bonds shall be payable at such place or places as the County Council may prescribe. The reasonable expenses of issuing such bonds shall be deemed a part of the cost of constructing the sewer facilities. The full faith and credit of New Castle County shall be pledged to the payment of such bonds and the interest thereon. Debt incurred by the County Council pursuant to this chapter may be represented by uncertificated obligations of the County Council which may be authorized in accordance with the same procedures applicable to bonds which are permitted to be issued under this chapter, and the County Council by resolution may determine, or it may delegate authority to the County Executive to determine, all procedures appropriate to the establishment of a system of issuing uncertificated debt.
# (c)
The County Council may authorize the County Executive to sell such bonds at public or private sale upon such terms, conditions and regulations as it may prescribe.
Amendment history
45 Del. Laws, c. 113, § 1; 47 Del. Laws, c. 178, § 1; 49 Del. Laws, c. 323; 55 Del. Laws, c. 85, § 15; 63 Del. Laws, c. 142, § 17; 64 Del. Laws, c. 318, § 9; 71 Del. Laws, c. 401, § 15; 83 Del. Laws, c. 344, § 2
Source: view the official text
In this title (40 sections)
- 9-2228 · Discharge of property from lien [Repealed]
- 9-2229 · Writ of venditioni exponas [Repealed]
- 9-2230 · Effect of sale of real estate or interest therein [Repealed]
- 9-2231 · Petition for deed of conveyance [Repealed]
- 9-2232 · Redemption by owner [Repealed]
- 9-2233 · Petition by owner after redemption; effect of redemption…
- 9-2234 · Approval of sale [Repealed]
- 9-2235 · Service charge to be lien upon property; construction of…
- 9-2236 · Fees and costs [Repealed]
- 9-2237 · Purchase at Sheriff’s Sale by agent of County [Repealed]
- 9-2301 · Conditions for establishment of sanitary sewer district
- 9-2302 · Establishment or revision of sanitary sewer districts without…
- 9-2303 · Establishment of sanitary sewer district upon petition of…
- 9-2304 · Public hearing; notice
- 9-2305 · Action of County Council following hearing
- 9-2306 · Election on question of establishment of district
- 9-2307 · Action of County Council following election favoring…
- 9-2308 · Construction of system adequate for future connections
- 9-2309 · Construction or maintenance of sewers for cities or towns
- 9-2310 · Adjustment of assessment for cost of existing sewers included…
- 9-2311 · Bonds; power to issue; terms; authority of County Executive
- 9-2312 · Notice of sale of bonds
- 9-2313 · Deposit accompanying bids
- 9-2314 · Sale of bonds; opinion of County Attorney
- 9-2315 · Preparation, form and execution of bonds
- 9-2316 · Annual assessment; procedure for fixing amount
- 9-2317 · Collection of assessments
- 9-2318 · Rules and regulations governing use of sewage disposal…
- 9-2319 · Grants or loans from federal, state or interstate agencies
- 9-2320 · Validation of prior acts and proceedings
- 9-2321 · Order to connect to sanitary sewer; enforcement
- 9-2401 · Acquisition of land generally; construction and operation of…
- 9-2402 · Acquisition by purchase or eminent domain; condemnation…
- 9-2403 · Powers of County Council as to operation of plant; regulations…
- 9-2404 · Power to borrow money and issue bonds; interest rates
- 9-2405 · Terms of bonds
- 9-2406 · Execution and record of bonds
- 9-2407 · Sale of bonds
- 9-2408 · Principal and interest payments; taxes
- 9-2409 · Deposit and use of proceeds of sale of bonds; liability of…