2015 Delaware Code
Title 16 - Health and Safety
CHAPTER 14. WATER AND/OR SEWER AUTHORITIES
§ 1409 Issuance of revenue bonds — Faith and credit of State or political subdivisions as unaffected.
Revenue bonds issued under this chapter shall not be deemed to constitute a pledge of the faith and credit of the State or of any political subdivision thereof. All such bonds shall contain a statement on their face substantially to the effect that neither the faith and credit of the State nor the faith and credit of any county, city, town or other subdivision of the State are pledged to the payment of the principal of or the interest on such bonds. The issuance of revenue bonds under this chapter shall not directly or indirectly or contingently obligate the State or any county, city, town or other subdivision of the State to levy any taxes whatever therefor or to make any appropriation for their payment except from the funds pledged under this chapter.
16 Del. C. 1953, § 1409; 49 Del. Laws, c. 417.;
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