Maryland § 19-212
Full text of Maryland Maryland Code § 19-212, with citation guidance and answers to common questions.
§ 19-212.
(a) A governmental entity authorized to issue bonds may issue and sell bond anticipation notes if, in the ordinance, resolution, or other form of official action that authorizes the notes, the governmental entity covenants to:
(1) pay from the proceeds of the bonds in anticipation of the sale of which the notes are issued:
(i) the principal of the notes; and
(ii) to the extent that the interest on the notes is not paid from the proceeds of the sale of the notes, the interest on the notes; and
(2) issue the bonds as soon as there is no longer a reason for deferring their issuance.
(b) A governmental entity may issue and sell grant anticipation notes in anticipation of the receipt of a grant from the United States, the State, or any of their units if, in the ordinance, resolution, or other form of official action that authorizes the notes, the governmental entity covenants to pay from the proceeds of the grant in anticipation of the receipt of which the notes are issued:
(1) the principal of the notes; and
(2) the interest on the notes.
Frequently Asked Questions About Maryland § 19-212
What does Maryland Code § 19-212 cover?
Section 19-212 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 19-212?
A common citation format is "Maryland Code § 19-212" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 19-212 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.