Del. Code tit. 9 § 3314

Current through 2024 Legislative Session Act Chapter 531

Section 3314 - Bonds not to constitute general obligation debt

Bonds issued under this chapter are a special obligation of the county or Special Development District (SDD) 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 to property owners who purchase subject to a TIF or SDD. Property owners who purchase subject to a TIF or SDD shall only be responsible for TIF or SDD obligations determined by the individual assessment of their property.

9 Del. C. § 3314

76 Del. Laws, c. 187, § 2.;