A county, which is not the issuing body, may pledge, by written agreement, that some or all of its property taxes levied on the tax increment shall also be paid into a special fund created pursuant to § 1707 of this title. Such agreements shall be between the governing bodies of a municipality and the county. They shall run to the benefit of and be enforceable on behalf of any bondholder.
Del. Code tit. 22, § 1709
Agreements to pay revenue from taxes on tax increment into special fund
Known as the Municipal Tax Increment Financing Act
The act spans §§ 22-1701 to 22-1716 (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.