The Levy Court may adopt a resolution creating a special fund with respect to a TIF District, even though no bonds authorized by this chapter have been issued by the County with respect to that TIF District or are then outstanding. The taxes allocated to such special fund by § 5406(3)b. or c. of this title shall thereafter be paid over to such special fund as long as such resolution remains in effect.
Structure Delaware Code
Chapter 54. KENT COUNTY TAX INCREMENT FINANCING ACT
§ 5403. Bonds to finance development of industrial, commercial, or residential area authorized.
§ 5405. Application of bond proceeds.
§ 5406. Conditions precedent to issuance of bonds.
§ 5407. Resolution creating special fund.
§ 5409. Pledge of revenue from taxes on tax increment into other fund.
§ 5410. Agreements to pay revenue from taxes on tax increment into special fund.
§ 5411. Ordinance authorizing bonds.
§ 5412. Exemption of bonds from taxation.
§ 5413. Nature and incidents of bonds.
§ 5414. Taxation of leased property in TIF District.
§ 5415. TIF District consistency with certified comprehensive plan.