Delaware Code Title 22 Sec. 1814 – Bonds not to constitute general obligation debt
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Bonds issued under this chapter are a special obligation of the municipality and may not constitute a general obligation debt of the municipality, or a pledge of the municipality’s full faith and credit or taxing power.
Terms Used In Delaware Code Title 22 Sec. 1814
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.