# Local Government (GLG)

## Title 19. Public Debt

### Subtitle 2. Public Securities

#### Section 19-218

The proceeds of sale of bond anticipation notes shall be spent:

(1) first, for payment of the expenses of issuance of the notes; and

(2) then, subject to Sec. 19-217(a)(2) of this subtitle, only for the public purposes for which the bonds are authorized.

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Md. Code Ann., Local Gov't (as displayed at mgaleg.maryland.gov, October 16, 2026)