{"data":{"id":"us-md/md.-code-local-government-19-212","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–212","heading":"","body":"(a) A governmental entity authorized to issue bonds may issue and sell bond\nanticipation notes if, in the ordinance, resolution, or other form of official action that\nauthorizes the notes, the governmental entity covenants to:\n(1) pay from the proceeds of the bonds in anticipation of the sale of\nwhich the notes are issued:\n(i) the principal of the notes; and\n(ii) to the extent that the interest on the notes is not paid from\nthe proceeds of the sale of the notes, the interest on the notes; and\n(2) issue the bonds as soon as there is no longer a reason for deferring\ntheir issuance.\n(b) A governmental entity may issue and sell grant anticipation notes in\nanticipation of the receipt of a grant from the United States, the State, or any of their\nunits if, in the ordinance, resolution, or other form of official action that authorizes\nthe notes, the governmental entity covenants to pay from the proceeds of the grant in\nanticipation of the receipt of which the notes are issued:\n(1) the principal of the notes; and\n(2) the interest on the notes.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-212","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"5ef6f3145243cbc3495645527621c72f82719a603a7aa780045890263f1ec38b","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-211","next":"us-md/md.-code-local-government-19-213"},"notice":"GroundRules: Original legal text. Not legal advice."}