CHAPTER 9. AIRPORTS OF POLITICAL SUBDIVISIONS
Subchapter II. Financing and Taxation
§ 921 Exemption of airport property and income from taxation.
Any property acquired by a political subdivision pursuant to this chapter shall be exempt from taxation to the same extent as other property used for public purposes. All income received in connection with the operation by a political subdivision of any airport or other air navigation facility shall also be exempt from taxation.
Code 1935, c. 167; 45 Del. Laws, c. 300, § 5; 2 Del. C. 1953, § 921.;
§ 922 Payment of purchase price and improvement costs; definition of "cost."
The cost of investigating, surveying, planning, acquiring, establishing, constructing, enlarging or improving or equipping airports and other air navigation facilities, and the sites therefor, including structures and other property incidental to their operation, in accordance with this chapter may be paid for by appropriation of moneys available therefor, or wholly or partly from the proceeds of bonds of the political subdivision, as the governing body of the political subdivision shall determine.
As used in this section "cost" includes awards in condemnation proceedings and rentals where an acquisition is by lease.
Code 1935, c. 167; 45 Del. Laws, c. 300, § 6(1); 2 Del. C. 1953, § 922.;
§ 923 Bond issues.
(a) Any bonds to be issued by any political subdivision pursuant to this chapter shall be authorized and issued in the manner and within the limitation, except as herein otherwise provided, prescribed by the laws of this State or the charter of the political subdivision for the issuance and authorization of bonds thereof for public purposes generally.
(b) Irrespective of any limitation, by general or special law or charter, as to the amount of bonds which may be issued, a political subdivision may issue bonds for the purposes defined by this chapter in excess of such limitation, in such amount as may be authorized by an ordinance or resolution referred to and approved by the voters of such political subdivision by popular vote, at any general election or special election called for that purpose.
(c) The amount of all bonds issued by any political subdivision for the purposes defined in this chapter shall not be counted or included in the net indebtedness of the political subdivision or in any computation of the outstanding indebtedness of the political subdivision for the purpose of determining the limit of net indebtedness thereof.
Code 1935, c. 167; 45 Del. Laws, c. 300, § 6(2)-(4); 2 Del. C. 1953, § 923.;
§ 924 Validation of prior bonds.
In all cases where a political subdivision has issued any bonds for the purpose of investigating, surveying, planning, acquiring, establishing, constructing, enlarging, equipping, or improving any airport, or other air navigation facility, or site therefor, or to meet the cost of structures or other property incidental to their operation, whether such airport or other air navigation facility was termed under the law existing at the time of the issuance of such bonds an airport, a landing field, a landing strip, an aviation field or a flying field, or has incurred any other indebtedness, or entered into any lease or other contract in connection with the acquisition, establishment, construction, ownership, enlargement, control, leasing, equipment, improvement, maintenance, operation or regulation of any such airport or other air navigation facility, or site therefor, or structure or other property incidental to its operation, the proceedings heretofore taken in all such cases are in all respects validated and confirmed. Any bonds already issued thereunder are validated and made legal obligations of such political subdivision and the political subdivision is authorized and empowered, pursuant to such proceedings, to issue further bonds for such purposes up to the limit fixed in the original authorization thereof, without limitation of the general power granted in this chapter to all political subdivisions in this State, which bonds when issued shall be legal obligations of the political subdivision according to their terms.
Code 1935, c. 167; 45 Del. Laws, c. 300, § 6(5); 2 Del. C. 1953, § 924.;
§ 925 Authority to appropriate and expend moneys and to levy taxes.
(a) The governing bodies having power to appropriate moneys within the political subdivisions in this State acquiring, establishing, constructing, enlarging, improving, maintaining, equipping or operating airports and other air navigation facilities under this chapter may appropriate and cause to be raised by taxation or otherwise in such political subdivisions moneys sufficient to carry out therein the provisions of this chapter.
(b) Irrespective of any limitation, by general or special law or charter, as to the amount or total of taxes that may be levied, a political subdivision may levy taxes for the purposes authorized by this chapter, in excess of such limitations, in such amount as may be authorized by an ordinance or resolution referred to and approved by the voters of such political subdivision by popular vote.
Code 1935, c. 167; 45 Del. Laws, c. 300, § 7(1), (2); 2 Del. C. 1953, § 925.;
§ 926 Use of airport revenues.
The revenues obtained from the ownership, control and operation of any airport or other air navigation facility shall be used, first, to finance the maintenance and operating expenses thereof, and, second, to make payments of interest on and current principal requirements of any outstanding bonds or certificates issued for the acquisition or improvement thereof, and to make payment of interest on any mortgage heretofore made. Revenues in excess of the foregoing requirements may be applied to finance the extension or improvement of the airport or other air navigation facilities.
Code 1935, c. 167; 45 Del. Laws, c. 300, § 7(3); 2 Del. C. 1953, § 926.;