§ 19-214
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/md/local-government/19-214A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§19–214.
(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.