Maryland § 19-220
Full text of Maryland Maryland Code § 19-220, with citation guidance and answers to common questions.
§ 19-220.
(a) A governmental entity may issue bond or grant anticipation notes under this part as notes in the nature of commercial paper.
(b) A bond or grant anticipation note issued as a note in the nature of commercial paper may be secured by:
(1) a trust indenture with a trust company, or a bank with powers of a trust company, in or outside the State; and
(2) a letter of credit, line of credit, or other credit arrangement from or with a lending institution.
(c) (1) For bond anticipation notes, the credit arrangement may be made payable out of:
(i) the first proceeds of sale of the bonds; or
(ii) the tax or other revenue that the governmental entity has pledged to payment of the principal of and interest on the bonds.
(2) For grant anticipation notes, the credit arrangement may be made payable out of the proceeds of the grant.
Frequently Asked Questions About Maryland § 19-220
What does Maryland Code § 19-220 cover?
Section 19-220 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 § 19-220?
A common citation format is "Maryland Code § 19-220" (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 § 19-220 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.