Delaware § 2107 - Limitation on amount of bonds that may be issued.
Full text of Delaware Delaware Code § 2107 — Limitation on amount of bonds that may be issued., with citation guidance and answers to common questions.
§ 2107. Limitation on amount of bonds that may be issued.
A school board shall not issue bonds, except for the purpose of refunding outstanding bonds, in an amount which would cause the aggregate amount of bonded debt of the district, less the amount of sinking funds on hand for the payment of such bonded debt, to exceed 10% of the assessed value of the real property in the district or in the case of Sussex County school districts, 10% of 50% of the full market value of real estate, in Kent County school districts, 10% of 60% of the full market value of real estate; and in New Castle County school districts, 10% of 100% of the full market value of real estate, whichever is greater. For purposes of this section, the full market value of real estate shall be determined by the Assessment to Sales Ratio Study conducted annually by the Office of Management and Budget.
32 Del. Laws, c. 160, § 53; 34 Del. Laws, c. 173, § 1; Code 1935, § 2719; 47 Del. Laws, 2nd Spec. Sess., c. 1,, § 2; 48 Del. Laws, c. 175, § 1; 14 Del. C. 1953, § 2106; 71 Del. Laws, c. 3, § 1; 75 Del. Laws, c. 88, § 21(7);Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 2107
What does Delaware Code § 2107 cover?
Section 2107 ("Limitation on amount of bonds that may be issued.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 2107?
A common citation format is "Delaware Code § 2107" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 2107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.