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<section article="gsf" article_name="State Finance and Procurement" number="8-220" title_number="8" title_name="Debt" subtitle_number="2" subtitle_name="Debts of State Units">
  <level label="a">
    <level label="1">
      <text>Except for the provisions of this section, each State unit shall comply with the provisions, requirements, and limitations in the enabling act.</text>
    </level>
    <level label="2">
      <text>If a State unit is unable to sell bonds to pay the bond anticipation notes under this Part III of this subtitle when due because of an interest rate limitation in the enabling act, the State unit may:</text>
      <level label="i">
        <text>issue bonds in a total principal amount sufficient to pay the principal of and not more than 1 year’s interest on the notes; and</text>
      </level>
      <level label="ii">
        <text>provide for payment of interest on the bonds at a rate that is higher than the interest rate limitation in the enabling act.</text>
      </level>
    </level>
    <level label="3">
      <text>This section is supplemental authority for a State unit to issue bonds free of an interest rate limitation to pay outstanding bond anticipation notes under this Part III of this subtitle.</text>
    </level>
  </level>
  <level label="b">
    <text>A resolution that authorizes the issuance of bonds under subsection (a)(2) of this section shall refer to:</text>
    <level label="1">
      <text>the enabling act; and</text>
    </level>
    <level label="2">
      <text>this section.</text>
    </level>
  </level>
</section>
