{"data":{"id":"us-md/md.-code-local-government-19-602","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–602","heading":"","body":"(a) (1) A county may borrow money and incur indebtedness through the\nissuance and sale of notes in anticipation of the receipt of any of the county’s State\nshare.\n(2) The amount borrowed may not exceed at any one time the\ncounty’s State share.\n(3) In calculating the maximum principal amount of notes that may\nbe outstanding, the State share may not be reduced with respect to any outstanding\nnotes except on receipt by the county of money advanced by the State with respect to\nthe State share and payment of notes with the money.\n(b) A county may enter into an agreement with one or more counties to\nprovide for the issuance and sale of consolidated notes in anticipation of the receipt\nof any of the aggregate State shares of the participating counties.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-602","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"9d5125e56538fefcbf37c2de8cb4fd6a9882427bc73100054677a073f4e98d99","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-601","next":"us-md/md.-code-local-government-19-603"},"notice":"GroundRules: Original legal text. Not legal advice."}