The proceeds of sale of bond anticipation notes shall be spent:
(1) first, for payment of the expenses of issuance of the notes; and
(2) then, subject to § 19–217(a)(2) of this subtitle, only for the public purposes for which the bonds are authorized.
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