In addition to whatever other powers it may have, and notwithstanding any limitation of law, any municipality may borrow money by issuing and selling bonds, at any time and from time to time, for the purpose of financing the development of an industrial, commercial or residential area.
Del. Code tit. 22, § 1703
Bonds to finance development of industrial, commercial or residential area authorized
Known as the Municipal Tax Increment Financing Act
The act spans §§ 22–22 (17 sections).
74 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.