Delaware Code Title 16 Sec. 1417 – Revenue refunding bonds; single issues of revenue bonds; …
Each authority created hereunder may provide by resolution for the issuance of revenue refunding bonds of the authority for the purpose of refunding any revenue bonds outstanding and issued under this chapter. Each such authority may further provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of:
(1) Paying the cost of any project, or the improvement, extension, addition or reconstruction thereof; and
(2) Refunding revenue bonds of the authority which shall theretofore have been issued under this chapter and shall then be outstanding and which shall then have matured or be subject to redemption or can be acquired for retirement.
Terms Used In Delaware Code Title 16 Sec. 1417
- Authority: means a body politic and corporate created pursuant to this chapter or, if such body politic and corporate shall be abolished, the board, body or commission succeeding to the principal functions thereof or to which the powers given by this chapter to such body politic and corporate shall be given by law. See Delaware Code Title 16 Sec. 1401
- Bonds: means and includes notes, bonds and other evidences of indebtedness or obligations which each authority is authorized to issue pursuant to § 1408 of this title. See Delaware Code Title 16 Sec. 1401
- Project: means any water system, sewer system and any combination or part or parts thereof owned, constructed or operated by an authority under this chapter. See Delaware Code Title 16 Sec. 1401
The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the holders thereof, and the rights, powers, privileges, duties and obligations of the authority with respect to the same, shall be governed by the foregoing provisions of this chapter insofar as the same may be applicable.
16 Del. C. 1953, § ?1417; 49 Del. Laws, c. 417.;