Delaware

Decision instrument

The General Assembly authorizes state tax-supported debt.

What public act authorizes the borrowing, and where is the purpose and the first-year cost written down? 29 Del. C. § 7422. A debt-limit statement rides with the authorizing bill. A particular bill is not attached here. New Castle County bonds are authorized by ordinance and may not pay operating expenses (9 Del. C. § 1163). That ordinance rule is not copied onto Kent or Sussex.

Debt statement

No Annual Debt Statement of the New Jersey kind.

What yearly filing states gross debt, deductions, and how close the issuer is to its limit? The State uses a Debt Limit Statement on the authorizing bill, 29 Del. C. § 7422(e). A county yearly debt statement is not attached, so county dollars stay blank.

Debt limit

New state tax-supported borrowing in one year may not exceed 5% of estimated net General Fund revenue.

What cap binds a county or a city, and is the state's own ceiling a different rule? 29 Del. C. § 7422(b). A second test blocks new tax-supported debt, and Delaware Transportation Authority trust-fund debt, if the maximum annual payments would exceed 15% of estimated General Fund revenue plus Transportation Trust Fund revenue (§ 7422(c)). New Castle County may not issue bonds that would push outstanding bond principal above 3% of taxable real-estate assessment, with stated exclusions (9 Del. C. § 1163). That 3% cap is not Kent’s and not Sussex’s.

Conflict rule

State code of conduct. A financial interest is ownership of more than 10% of a private enterprise.

Which ethics statute covers local officers, what counts as an interest, and who is left out? 29 Del. C. §§ 5804–5806. More than 1% if the stock trades on an established market. The chapter covers state employees, state officers, and honorary state officials. It is not a county-officer statute. A disclosure filed with the Public Integrity Commission under § 5806(d) is confidential, and this file does not publish it. County ethics codes are not attached.

Geography

Three counties.

What is the county-equivalent, and which cities, schools, and authorities must not be pasted onto that row? Kent 10001, seat Dover. New Castle 10003, seat Wilmington. Sussex 10005, seat Georgetown. City debt and school debt are not county rows.

Primary money record

$2.589 billion general obligation bonds.

Which audited report is the state's own number, and as of what date? Annual Comprehensive Financial Report, year ended June 30, 2025. The bonded-debt table is in thousands: general obligation bonds $2,589,220. The management discussion rounds the full-faith-and-credit stock to $2.6 billion. Of that stock, $790.4 million (30.5%) was issued for local school districts and is already inside the figure. Do not add it again. Governmental revenue bonds in the same table: $44.7 million.

Who pays the coupon

Full faith and credit of the State. School districts transferred $69.5 million of property tax in fiscal 2025 toward the school share.

Which fund, tax, or rate is actually pledged — not which new store might show up later? Both facts are in the FY2025 report. Amounts due on outstanding general obligation bonds in the year ending June 30, 2026 are $337.2 million, of which $224.5 million is principal and $112.7 million is interest. That is a schedule of what is due, not cash paid in fiscal 2025. A full fund-by-fund split of fiscal 2025 debt service, beyond the school transfer, is not attached.

Other obligors

Delaware Transportation Authority revenue bonds: $1.174 billion. Do not add them to the $2.589 billion.

Which authorities and districts borrow beside the state and must not be added to its total? The same report prints $1,174,245 thousand under business-type activities. The auditor disclaimed an opinion on business-type activities and the unemployment fund. County debt and the Delaware River and Bay Authority are separate obligors. Their stock is not copied here.

Book-entry wall

Cede & Co., at the Depository Trust Company.

Who is the registered owner on ordinary public paper? Series-level confirmation still waits on that official statement. Beneficial owners stay unnamed.