The County may pledge, by written agreement, that some or all of its property taxes levied on the tax increment shall be paid into a special fund created by an issuing body for the payment or reimbursement of the debt service on other obligations. Such agreement shall be between the County and such issuing body and shall run to the benefit of and be enforceable on behalf of any holder of such other obligations.
Del. Code tit. 9, § 5409
Pledge of revenue from taxes on tax increment into other fund
Known as the Kent County Tax Increment Financing Act
The act spans §§ 9–9 (17 sections).
81 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.