{"data":{"id":"us-md/md.-code-local-government-19-213","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–213","heading":"","body":"(a) Bond and grant anticipation notes issued under this part shall be\nauthorized by ordinance, resolution, or other form of official action customarily used\nby the governmental entity.\n(b) (1) The ordinance, resolution, or other form of official action that\nauthorizes the bond or grant anticipation notes shall state:\n(i) the authority for the notes and, if the notes are bond\nanticipation notes, the authority for the bonds;\n(ii) the amount of notes authorized; and\n(iii) the terms of the notes.\n(2) The ordinance, resolution, or other form of official action shall\nspecify that the notes:\n(i) be sold in a certain manner, at public sale or, if the\ngovernmental entity considers private negotiation to be in its best interest, at private\nsale;\n(ii) mature at certain times;\n(iii) bear interest at certain rates or at rates to be determined\nin the manner stated in the ordinance, resolution, or other form of official action; and\n(iv) be sold for certain prices or for prices to be determined in\nthe manner stated in the ordinance, resolution, or other form of official action, which\nmay be at, above, or below par.\n(3) The ordinance, resolution, or other form of official action may\nprovide that the notes:\n(i) be in one or more series, as money is required; and\n(ii) be renewable at maturity with or without resale.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-213","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"86f1701dfcd49d0a0908c248c3c893c21f52b42a149839d7f5a5dcd0b12a042f","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-212","next":"us-md/md.-code-local-government-19-214"},"notice":"GroundRules: Original legal text. Not legal advice."}