§ 1806. When no bonds or other obligations outstanding.
98 words·~1 min read·
/de/title-22/chapter-18-special-development-districts/1806A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)When no bonds are outstanding, the municipality may use money in the special fund for payment or reimbursement of debt service on other obligation that the municipality is obligated to pay under an agreement described in § 1802(b)(3) of this title.
(b)When no bonds are outstanding with respect to a special development district and no other obligations are outstanding:
(1)The special development district shall be terminated; and
(2)Any moneys remaining in the special fund on the date of termination of the special development district shall be paid to the general fund of the municipality.