The revenues obtained from the ownership, control and operation of any airport or other air navigation facility shall be used, first, to finance the maintenance and operating expenses thereof, and, second, to make payments of interest on and current principal requirements of any outstanding bonds or certificates issued for the acquisition or improvement thereof, and to make payment of interest on any mortgage heretofore made. Revenues in excess of the foregoing requirements may be applied to finance the extension or improvement of the airport or other air navigation facilities.
Structure Delaware Code
Chapter 9. AIRPORTS OF POLITICAL SUBDIVISIONS
Subchapter II. Financing and Taxation
§ 921. Exemption of airport property and income from taxation.
§ 922. Payment of purchase price and improvement costs; definition of “cost.”
§ 924. Validation of prior bonds.
§ 925. Authority to appropriate and expend moneys and to levy taxes.