# State Finance and Procurement (GSF)

## Title 8. Debt

### Subtitle 2. Debts of State Units

#### Section 8-215

(a) A State unit may not issue bond anticipation notes under this Part III of this subtitle 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 State unit may not issue grant anticipation notes under this Part III of this subtitle 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.

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Md. Code Ann., State Fin. & Proc. (as displayed at mgaleg.maryland.gov, October 16, 2026)