Delaware § 1420 - Transfer of projects to municipalities; conditions; termination of authorities.
Full text of Delaware Delaware Code § 1420 — Transfer of projects to municipalities; conditions; termination of authorities., with citation guidance and answers to common questions.
§ 1420. Transfer of projects to municipalities; conditions; termination of authorities.
When any authority shall have paid or provided for the payment of the principal of and the interest on all bonds secured by a pledge of any of the revenues of a project, it may (subject to any agreements concerning the operation or disposition of such project) grant and convey such project to the municipality or municipalities composing the authority. When any authority shall have paid or made provisions for the payment of the principal of and the interest on all bonds issued by it and settled all other claims against it, it may terminate its existence. A certificate, requesting the termination of the existence of the authority, signed by the proper officers of the authority and stating that the principal of and the interest on all bonds issued by it have been paid or that provisions for such payment have been made and that all claims against the authority have been settled shall be filed with the Secretary of State. If the certificate is approved by the municipality or municipalities composing the authority by ordinance or resolution, the Secretary of State shall note the termination of existence on the records of the Secretary of State and issue its certificate of approval to the board and thereupon the authority shall cease to exist.
16 Del. C. 1953, § 1420; 49 Del. Laws, c. 417.;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 1420
What does Delaware Code § 1420 cover?
Section 1420 ("Transfer of projects to municipalities; conditions; termination of authorities.") 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 § 1420?
A common citation format is "Delaware Code § 1420" (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 § 1420 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.