Md. Code, Local Government § 19–602

(a) (1) A county may borrow money and incur indebtedness through the

issuance and sale of notes in anticipation of the receipt of any of the county’s State

share.

(2) The amount borrowed may not exceed at any one time the

county’s State share.

(3) In calculating the maximum principal amount of notes that may

be outstanding, the State share may not be reduced with respect to any outstanding

notes except on receipt by the county of money advanced by the State with respect to

the State share and payment of notes with the money.

(b) A county may enter into an agreement with one or more counties to

provide for the issuance and sale of consolidated notes in anticipation of the receipt

of any of the aggregate State shares of the participating counties.