Delaware § 4650 - Application of proceeds.
Full text of Delaware Delaware Code § 4650 — Application of proceeds., with citation guidance and answers to common questions.
§ 4650. Application of proceeds.
After payment of the reasonable cost of issuance, including printing or engraving costs, advertising expense and legal and other professional expenses, the proceeds of the sale of any bonds or notes shall be applied only to the purpose or purposes for which the obligations were authorized to be issued, and any excess amount thereof or any amount thereof which for any reason is not necessary for any such purpose, shall:
(1) Be applied to payment of such obligations at not more than their face value; and
(2) Be applied to payment of the first maturing installments of such issue.
9 Del. C. 1953, § 4649; 56 Del. Laws, c. 103, § 13;Frequently Asked Questions About Delaware § 4650
What does Delaware Code § 4650 cover?
Section 4650 ("Application of proceeds.") 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 § 4650?
A common citation format is "Delaware Code § 4650" (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 § 4650 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.