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Is there a time delay for the person who initiated the channel to refund the transaction? If so where is this information documented (authoritative source)?

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Yes there is. The place where the protol is documented are the BOLTs. What you are asking for is for example documented in the open_channel message in BOLT 2: https://github.com/lightning/bolts/blob/master/02-peer-protocol.md#the-open_channel-message

There you can find the field to_self_delay in which the initiating node of the channel defines its delay in blocks. On a implementation level the value of this field can be configured by the users

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