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 §§ 22–22 (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.