§ 3314. Bonds not to constitute general obligation debt.
82 words·~1 min read·
/de/title-9/chapter-33-new-castle-county-special-development-districts/3314·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Bonds issued under this chapter are a special obligation of the county or Special Development District
(SDD)and may not constitute a general obligation debt of the county, or a pledge of the county’s full faith and credit or taxing power. Bonds are nonrecourse to property owners who purchase subject to a TIF or SDD. Property owners who purchase subject to a TIF or SDD shall only be responsible for TIF or SDD obligations determined by the individual assessment of their property.