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2017 Delaware Code
Title 22 - Municipalities
CHAPTER 13. MUNICIPAL ELECTRIC COMPANIES
§ 1315. Tax exemption.
Universal Citation: 22 DE Code § 1315 (2017)
(a) All bonds of a municipal electric company are declared to be issued on behalf of the State for an essential public and governmental purpose and to be debts of a state municipal corporation.
(b) The property of a company including any pro rata share of any property owned by a company in conjunction with any other person or public agency is declared to be a public property used for essential public and governmental purposes and such property or pro rata share, a company and its income shall be exempt from all taxes of the State or any state public body.
61 Del. Laws, c. 496, § 1.;
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