A municipality, school district, or other taxing body that taxes property within the County which is not an issuing body may pledge, by written agreement, that some or all of its property taxes levied on the tax increment shall also be paid into a special fund created pursuant to § 5407 of this title. Such agreement shall be between the County and the taxing body and shall run to the benefit of and be enforceable on behalf of any holder of the bonds.
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.