All public officers, municipal corporations, political subdivisions and public bodies, all banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, curators, trustees and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by an authority pursuant to this chapter or by any public housing or redevelopment authority or commission or agency or any other public body in the United States for redevelopment purposes, when such bonds and other obligations are secured by an agreement between the issuing agency and the federal government in which the issuing agency agrees to borrow from the federal government and the federal government agrees to lend to the issuing agency, prior to the maturity of such bonds or other obligations, moneys in an amount which (together with any other moneys irrevocably committed to the payment of interest on such bonds or other obligations) will suffice to pay the principal of such bonds or other obligations with interest to maturity thereon, which moneys under the terms of such agreement are required to be used for the purpose of paying the principal of and the interest on such bonds or other obligations at their maturity and such bonds and other obligations shall be authorized security for all public deposits. It is the purpose of this section to authorize any persons, political subdivisions and officers, public or private, to use any funds owned or controlled by them for the purchase of any such bonds or other obligations. However, nothing contained in this section with regard to legal investments shall be construed as relieving any person of any duty of exercising reasonable care in selecting securities.
Structure Delaware Code
Chapter 45. SLUM CLEARANCE AND REDEVELOPMENT AUTHORITY LAW
§ 4502. Declaration of necessity.
§ 4503. Creation of slum clearance and redevelopment authority.
§ 4505. Regional slum clearance and redevelopment authority.
§ 4506. Area of operation of regional authority.
§ 4507. Board of commissioners; number; tenure of office; vacancies.
§ 4508. Appointment of commissioners for each additional community; tenure.
§ 4509. Odd and even number of communities; tenure; certificate of appointment as evidence.
§ 4511. Power of authority; quorum; meetings; qualifications for appointment as commissioner.
§ 4512. Officers; employees; duties and compensation; legal services.
§ 4513. Removal; hearing; filing of proceedings in office of municipal or county clerk's office.
§ 4514. Actions or proceedings; proof of adoption of resolutions as evidence.
§ 4515. Interest in contracts; disclosure of interest; violations.
§ 4516. Powers of an authority.
§ 4517. Approval of redevelopment plans.
§ 4518. Finding of necessity by local governing body.
§ 4519. General plan prior to recommendation of redevelopment plan.
§ 4520. Preparation of redevelopment plan; contents.
§ 4521. Submission of plan for review and recommendations.
§ 4522. Considerations prior to recommendation of plan.
§ 4523. Statement of proposed costs; revenue, finances and relocation of displaced families.
§ 4524. Public hearing; notice; publication.
§ 4525. Approval of plan; required findings.
§ 4526. Modification of plan; notice; objections.
§ 4527. Disposal of property in redevelopment project.
§ 4529. Acquisition and development of undeveloped vacant land.
§ 4531. Powers in connection with issuance of bonds.
§ 4533. Bonds as legal investments.
§ 4534. Conveyance to federal government on default.
§ 4535. Property of authority exempt from taxes, from levy and sale by virtue of an execution.
§ 4536. Cooperation by public bodies.
§ 4537. Grant of funds by community.
§ 4538. Cooperation between authorities.
§ 4541. Preparation of general plan by local governing body.