Delaware § 5302 - Limited obligations.
Full text of Delaware Delaware Code § 5302 — Limited obligations., with citation guidance and answers to common questions.
§ 5302. Limited obligations.
All bonds issued by Kent County under the authority of this chapter shall be limited obligations of the County payable solely from bond proceeds, revenue and other amounts derived from the mortgage loans with respect to which such bonds are issued. The bonds and coupons, if any, attached thereto shall not constitute an indebtedness, liability, general or moral obligation or pledge of the faith and credit of Kent County, the State or any other political subdivision thereof and the taxing power of Kent County, the State or any political subdivision thereof shall not be pledged to the payment of the principal of, premium, if any, and interest on such bonds. In no event shall the total amount of the bonds issued pursuant to this chapter exceed $50,000,000.
62 Del. Laws, c. 203, § 1;Frequently Asked Questions About Delaware § 5302
What does Delaware Code § 5302 cover?
Section 5302 ("Limited obligations.") 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 § 5302?
A common citation format is "Delaware Code § 5302" (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 § 5302 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.