(a) A governmental entity may not issue bond anticipation notes under this part in a total principal amount that exceeds the authorized amount of the bonds in anticipation of the sale of which the notes are issued and sold.
(b) A governmental entity may not issue grant anticipation notes under this part in a total amount, including interest, that exceeds the amount of the grant in anticipation of the receipt of which the notes are issued and sold.
Structure Maryland Statutes
Subtitle 2 - Public Securities
Part III - Bond and Grant Anticipation Notes
Section 19-211 - Scope of Part
Section 19-212 - Authority to Issue
Section 19-213 - Ordinance or Resolution
Section 19-214 - Amount of Notes
Section 19-215 - Written Commitment
Section 19-216 - Signing of Notes
Section 19-217 - Payment of Principal and Interest
Section 19-218 - Proceeds of Sale of Bond Anticipation Notes
Section 19-219 - Interest Rate Limit on Bonds