All proceeds received from any bonds issued and sold pursuant to this chapter shall be applied solely for:
(1) The cost of purchasing, leasing, condemning or otherwise acquiring land or other property, or an interest in them, in the designated TIF District or as necessary for a right-of-way or other easement to or from the TIF District;
(2) Demolition and site removal;
(3) Plans, specifications, studies, surveys, forecasts and estimates of cost and revenues;
(4) Relocation of businesses or residents;
(5) Installation of utilities, construction of parks and playgrounds, and other necessary improvements, including streets and roads to, from, or within the TIF District, parking, lighting and other facilities;
(6) Construction or rehabilitation of buildings;
(7) Reserves or capitalized interest;
(8) Necessary costs of issuing bonds;
(9) Permissive costs of issuing and servicing the bonds, which may include up to 0.5% of the bond issues as origination costs incurred by the municipality, and up to 2.0% of the bond debt service payments as administrative costs if administered by the municipality;
(10) Payment of the principal, premium, if any, and interest on loans, money advanced or any indebtedness incurred by a municipality for any of the purposes set out in this section, including the refunding of bonds previously issued under this chapter; and
(11) Any costs permitted under § 1801(2) of this title, and for any purposes described in § 1802(b)(2) of this title; provided, however, that the purposes described in § 1802(b)(2) of this title shall be with reference to the designated TIF District.
Structure Delaware Code
Chapter 17. MUNICIPAL TAX INCREMENT FINANCING ACT
§ 1703. Bonds to finance development of industrial, commercial or residential area authorized.
§ 1705. Application of bond proceeds.
§ 1706. Conditions precedent to issuance of bonds.
§ 1707. Resolution creating special fund.
§ 1708. Uses of special fund; issuance of general obligation bond.
§ 1708A. Pledge of revenue from taxes on tax increment into other fund.
§ 1709. Agreements to pay revenue from taxes on tax increment into special fund.
§ 1710. Ordinance authorizing bonds.
§ 1711. Exemption of bonds from taxation.
§ 1712. Nature and incidents of bonds.
§ 1713. TIF District consistency with certified comprehensive plan.
§ 1714. Construction of chapter.
§ 1715. Taxation of leased property in TIF District.
§ 1716. Special provision applicable to the City of Dover, Delaware.