§ 5514. Bonds not to constitute general obligation debt.
85 words·~1 min read·
/de/title-9/chapter-55-kent-county-special-development-districts/5514·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 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 property in a special development district. Property owners who purchase property in a special development district shall only be responsible for the payment of ad valorem real property taxes and special taxes levied by the Levy Court pursuant to this chapter.