Delaware Code (Titles 8, 9, 25, 30)
9 Del. C. § 6511
Power to issue bonds; terms; borrowing in anticipation of issuance of bonds
# (a)
The county government may issue bonds of Sussex County to finance the cost of constructing sewage disposal or water facilities in any sanitary sewer or water district, respectively. Bonds issued to finance such facilities may be issued to fund interest on such bonds for a period not to exceed 6 months during the period of construction of the facilities being financed. 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 or water facilities in the sanitary sewer or water district for which the bonds are issued.
# (b)
The bonds shall bear interest at a rate or rates per annum determined by the county government. Interest on the bonds shall be exempt from taxation by the State or any political subdivision thereof for any purpose. Each issue of bonds shall be payable within 40 years after the date of their issue. The interest coupons and face amount of the bonds shall be payable at a state or national bank designated by the county government. The reasonable expenses of issuing such bonds shall be deemed a part of the cost of constructing the sewer or water facilities. The full faith and credit of Sussex County may be pledged to the payment of such bonds and the interest thereon.
# (c)
In anticipation of issuance of bonds, the county government may, by resolution, borrow money in such amounts as it may find necessary and authorize the issuance of negotiable notes therefor.
Amendment history
55 Del. Laws, c. 262; 57 Del. Laws, c. 762, § 8A; 59 Del. Laws, c. 583, § 1; 60 Del. Laws, c. 601, § 1; 63 Del. Laws, c. 142, § 24; 64 Del. Laws, c. 68, § 1; 66 Del. Laws, c. 320, § 1
Source: view the official text
In this title (40 sections)
- 9-6303 · Reports on permits issued by incorporated cities or towns
- 9-6304 · Inspections
- 9-6305 · Fees
- 9-6306 · Records
- 9-6307 · Permits not required
- 9-6308 · Notice of violation
- 9-6309 · Occupancy
- 9-6310 · Violation and penalty
- 9-6311 · Construction using public financial assistance
- 9-6401-6415 · Short title; definitions; eligibility for retirement…
- 9-6501 · Establishment of sanitary sewer or water district
- 9-6502 · Establishment or revision of sanitary or water districts…
- 9-6503 · Establishment of sanitary or water district upon petition of…
- 9-6504 · Public hearing; notice
- 9-6505 · Action of county government following hearing
- 9-6506 · Election on question of establishment of district
- 9-6507 · Action of county government following election favoring…
- 9-6508 · Construction of system adequate for future connections
- 9-6509 · Construction or maintenance of sewers or water systems for…
- 9-6510 · Adjustment of assessment for cost of existing sewers included…
- 9-6511 · Power to issue bonds; terms; borrowing in anticipation of…
- 9-6512 · Sale of bonds
- 9-6513 · Procedure for annual assessment
- 9-6514 · Collection of assessments
- 9-6515 · Rules and regulations governing use of sewage disposal and…
- 9-6516 · Grants or loans from federal, state or interstate agencies
- 9-6517 · Order to connect to sanitary sewer; enforcement
- 9-6518 · Exception to limitation on borrowing power
- 9-6519 · Definitions; voters
- 9-6520 · County Engineer; appointment and duties; assistants
- 9-6521 · Location of sewage treatment plants and other sewage disposal…
- 9-6701 · Definitions
- 9-6702 · Powers of County
- 9-6703 · Sewerage and water system within city or town
- 9-6704 · Authorization of bonds; terms; sale and interest rate;…
- 9-6705 · Authorized signatures on bonds; validity of issuance
- 9-6706 · Payment of bonds, faith and credit of County; tax levy
- 9-6707 · Authorization of covenants in bonds
- 9-6708 · Service charges; amount and application; repayment for…
- 9-6709 · Power to make charges; liability of users; computation of rates