7 DE Code § 6407. (2021)
2021 Delaware Code|Title 7 - Conservation|Chapter 64. Delaware Solid Waste Authority|Subchapter I. General Provisions|§ 6407. Funds and transfers of interests.

§ 6407. Funds and transfers of interests. (a) The Authority shall have the power to:  (1) Accept gifts, grants or loans of funds, property or service from any source, public or private, and comply, subject to this chapter, with the terms and conditions thereof; (2) Receive funds from the sale of general bonds, revenue bonds or other obligations of municipal, county or regional authorities and from the sale of general bonds, revenue bonds or other obligations of the Authority; (3) Receive funds or revenues from the sale of products, materials, fuels and energy in any form derived from the processing of solid waste by systems, facilities and equipment under its jurisdiction, and receive revenues in the form of rents, user fees, user charges, licensing fees and other charges paid by units or agencies of state and local government, and by persons and organizations, to compensate the Authority for the use of its facilities or the performance of its services; (4) Apply for and accept from a federal agency loans or grants for use in carrying out its purposes and enter into agreements with such agency respecting any such loans or grants; (5) Make loans to any municipal or regional authority or to any person for the planning, design, acquisition, construction, reconstruction, improvement, equipping and furnishing of a solid waste management project, which loans shall be secured by loan agreements, contracts or any other instruments or agreements with respect to the use of fees and charges, upon such terms and conditions as the Authority shall determine reasonable in connection with such loans, including provisions for the establishment and maintenance of reserve funds, and in the exercise of powers granted in this section in connection with the project for any such municipal or regional authority or person, to require the inclusion in any contract, loan agreement or other instrument, of such provisions for the construction, use, operation and maintenance and payment of operating and other costs of a project as the Authority may deem necessary or desirable and, in connection with the making of such loans, the Authority may purchase, acquire and take assignments and the notes and bonds of municipal or regional authorities and persons and receive other forms of security and evidences of indebtedness, and in furtherance of the purposes of this chapter and to assure the payment of the principal and interest of such loans, and in order to assure the payment of the principal and interest on bonds or notes of the Authority issued to provide funding for such loans, may attach, seize, purchase, acquire, accept or take title to any project by conveyance, and may sell, lease or rent any such project for a use specified in this chapter. Any municipality is hereby authorized to issue general obligation bonds, to which the full faith and credit of such municipality are pledged, to the Authority in an amount determined by such municipality without regard to any debt or other limit provided in any charter, special act or general act pertaining to such municipality. Such bonds may be issued and delivered upon negotiation with the Authority and the consideration therefor may be the provision by the Authority of solid waste and disposal resources recovery facilities for the use and benefit of such municipality. Such bonds may be pledged by the Authority as security for bonds issued by the Authority to provide such facilities for the benefit of such municipalities. Any municipality shall also have the power to unconditionally guarantee the punctual payment of the principal of and interest on any bonds of the Authority, including the satisfaction of mandatory sinking fund requirements as provided in any resolution, trust indenture or other documents securing such bonds. Any guarantee of bonds of the Authority made pursuant to this section shall be evidenced by endorsement thereof on such bonds executed in the name of the municipality and on its behalf by such officer thereof as may be designated in the resolution authorizing such guarantee, and such municipality shall thereupon and thereafter be obligated to pay the principal of and interest on said bonds in the same manner and to the same extent as in the case of bonds issued by it. The obligations imposed by such guarantee shall not be subject to any limitation respecting the incurrence of debt or the issuance of obligations of such municipality contained in any charter, special act or general act; (6) Establish payment schedules and make payments for the delivery of source separated recyclable materials to recycling centers, and create, through funding, incentives for the delivery of source separated recyclable materials to recycling centers by community groups under programs authorized by the Authority. (b) The directors of the Authority may by resolution, in accordance with the provisions and stipulations of this chapter and the Authority's general and other bond resolutions, authorize both segregation of such authority revenues as may at any time be adjudged by said directors to be surplus to the needs of the Authority to meet its contractual and other obligations and to provide for its operations or other business purposes, and the equitable redistribution of such segregated surplus revenues to some or all of the users of the system in accordance with applicable provisions of the state solid waste management plan. (c) All state funds previously appropriated to and for the use of the Department regarding the Delaware Reclamation Project are transferred to the Authority for the same purposes. (d) All federal grant money previously received by and for the use of the Department regarding the Delaware Reclamation Project are transferred to the Authority for the same purposes. (e) All contractual rights and obligations heretofore vested in or applying to the Department relating directly to the Delaware Reclamation Project are transferred to and assumed by the Authority. 60 Del. Laws, c. 288, §  1;  60 Del. Laws, c. 558, §  5;  61 Del. Laws, c. 132, §  8;  63 Del. Laws, c. 80, §  45;  67 Del. Laws, c. 432, §  5;