The following obligations are exempt from State and local taxation:
(1) a bond or grant anticipation note issued under this part;
(2) a bond issued to pay the notes issued under item (1) of this section; and
(3) the interest on the obligations.
Structure Maryland Statutes
Subtitle 2 - Debts of State Units
Part III - Bond and Grant Anticipation Notes
Section 8-213 - Authority to Issue
Section 8-215 - Amount of Notes
Section 8-216 - Written Commitment for Grant
Section 8-217 - Signing of Notes
Section 8-218 - Payment of Principal and Interest
Section 8-219 - Proceeds of Sale of Bond Anticipation Notes
Section 8-220 - Interest Rate Limit on Bonds