A municipality, school district or other taxing body within the county which is not an issuer 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 § 3207 of this title. Such agreement shall be between the county council and the taxing body and shall run to the benefit of and be enforceable on behalf of any bondholder.
Del. Code tit. 9, § 3209
Agreements to pay revenue from taxes on tax increment into special fund
Known as the New Castle County Tax Increment Financing Act
The act spans §§ 9–9 (15 sections).
76 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.