Delaware Code
Subchapter I. Sidewalks, Streets, Signs, Drainage, Storm Sewers
§ 502. Bonds; power of county government to issue; terms of; faith and credit of county pledged to payment of bonds.

(a) In order to carry out this subchapter, the government of any county of this State may issue bonds in an amount or amounts, and under such terms and conditions, not inconsistent with this subchapter as may be determined by such body.
(b) The bonds shall mature not later than 20 years after the date of issue, shall bear interest at the most advantageous rate attainable by the county government and the income therefrom shall not be subject to state taxation. The bonds shall be issued in the form prescribed by the county government and shall be either registered bonds or bearer with coupons convertible into fully registered bonds, as may be determined by the county government. Debt incurred by the county government pursuant to this subchapter may be represented by uncertificated obligations of the county government which may be authorized in accordance with the same procedures applicable to bonds which are permitted to be issued under this subchapter, and the county government may determine all procedures appropriate to the establishment of a system of issuing uncertificated debt. The bonds may, at the discretion of the county government, be made redeemable at par plus accrued interest on any interest payment date upon terms and conditions to be stated in the bonds.
(c) The full faith and credit of the county is pledged to insure the payment of any bond issue, and all interest thereon, created and sold under this subchapter.
(d) The county government may raise by the levy of taxes upon all the property taxable by the county such moneys, in addition to available moneys held in the sinking fund provided for in § 532 of this title, as are needed to pay the bonds and the interest thereon as the same become due and payable.

Structure Delaware Code

Delaware Code

Title 9 - Counties

Chapter 5. SUBURBAN COMMUNITY IMPROVEMENTS

Subchapter I. Sidewalks, Streets, Signs, Drainage, Storm Sewers

§ 501. Definitions.

§ 502. Bonds; power of county government to issue; terms of; faith and credit of county pledged to payment of bonds.

§ 503. Petition to county government for improvements; who may petition; contents.

§ 504. Survey and plot of community by State Department of Transportation.

§ 505. Determination by county government after receipt of survey and plot.

§ 506. Division of Highways data.

§ 507. Election to authorize bond issue; fixing time for holding.

§ 508. Contents of notice of election.

§ 509. Place, time and manner of voting; judge of election.

§ 510. Persons entitled to vote.

§ 511. Certification of result of election; retention of ballots.

§ 512. Notification to Director if bond issue authorized.

§ 513. Bonds; issuance by county government; resolution authorizing issuance and fixing terms of; use of general and other funds to finance construction.

§ 514. Preparation, form and execution of bonds.

§ 515. Sale of bonds; proceeds of sale; advertising required.

§ 516. Requirements for bidding on bonds.

§ 517. Rejection and acceptance of bids; opinion required.

§ 518. Rights-of-way; acquisition of; limitations on.

§ 519. Contracts for improvements; procedure for awarding.

§ 520. Exemption from limitations of county contract laws.

§ 521. Supervision of work.

§ 522. Payment to contractor.

§ 523. Maintenance of improvements.

§ 524. Assessment on real property in suburban community; time for making and basis.

§ 525. Determination of portion of total assessment payable annually; special lien; payment.

§ 526. Lien book; preparation and distribution.

§ 527. Notice of assessment; when to be given; contents; interest on delinquent installments.

§ 528. Record of lien on books of board of assessment.

§ 529. Receipt and disposition of assessment payments; bond.

§ 530. Bill for annual installment of assessment; mailing.

§ 531. Collection of assessments in default; procedure; deficiencies.

§ 532. Special sinking fund.

§ 533. Payment and retirement of bonds and interest.

§ 534. Cancellation of bonds.

§ 535. Suburban community streets and roads.