Delaware Code Title 9 Sec. 5303 – Form; terms
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The bonds issued pursuant to this chapter shall be authorized by resolution of the Levy Court and shall be issued in such form, in such denomination, bear such date, mature at such time, bear such interest rate, be executed in such manner, be payable in such places, be subject to such terms of redemption and bear such other terms as provided in the authorizing resolution.
Terms Used In Delaware Code Title 9 Sec. 5303
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC