{"data":{"id":"us-md/md.-code-local-government-19-219","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–219","heading":"","body":"(a) (1) Except for the provisions of this section, each governmental entity\nshall comply with the provisions, requirements, and limitations in the enabling act.\n(2) If a governmental entity is unable to sell bonds to pay the bond\nanticipation notes under this part when due because of an interest rate limitation in\nthe enabling act, the governmental entity may:\n(i) issue bonds in a total principal amount sufficient to pay the\nprincipal of and not more than 1 year’s interest on the notes; and\n(ii) provide for payment of interest on the bonds at a rate that\nis higher than the interest rate limitation in the enabling act.\n(3) This section is supplemental authority for a governmental entity\nto issue bonds free of an interest rate limitation to pay outstanding bond anticipation\nnotes under this part.\n(b) The ordinance, resolution, or other form of official action that authorizes\nthe issuance of bonds under subsection (a)(2) of this section shall refer to:\n(1) the enabling act; and\n(2) this section.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-219","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"7815a0c569af2516b70a7d1c53eb58c53591af9040e9ff04a9d1b7ee836552be","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-218","next":"us-md/md.-code-local-government-19-220"},"notice":"GroundRules: Original legal text. Not legal advice."}