Md. Code, Local Government § 1-1429
This is the official text of Md. Code, Local Government § 1-1429, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§1–1429.
Official statutory text
(a) An authority may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose.
(b) Bond anticipation notes issued under this section shall be issued in the same manner as bonds.
(c) Bond anticipation notes issued under this section and the resolution authorizing them may contain any provision, condition, or limitation that may be included in a trust agreement.
(d) An authority may issue bond anticipation notes to pay any other bond anticipation notes.
(e) Bond anticipation notes shall be paid from:
(1) money available and not otherwise pledged;
(2) revenues of the authority; or
(3) the proceeds of the sale of the bonds in anticipation of which the notes were issued.
(b) Bond anticipation notes issued under this section shall be issued in the same manner as bonds.
(c) Bond anticipation notes issued under this section and the resolution authorizing them may contain any provision, condition, or limitation that may be included in a trust agreement.
(d) An authority may issue bond anticipation notes to pay any other bond anticipation notes.
(e) Bond anticipation notes shall be paid from:
(1) money available and not otherwise pledged;
(2) revenues of the authority; or
(3) the proceeds of the sale of the bonds in anticipation of which the notes were issued.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.