(a) A bond anticipation note may not be issued under this Part III of this subtitle unless it is signed, endorsed, or guaranteed in the manner required by law for the bonds in anticipation of which the note is issued.
(b) A bond or grant anticipation note is valid and binding in accordance with its terms notwithstanding that:
(1) an official whose signature appears on the note is no longer an official when the note is delivered; or
(2) an official whose signature appears on the note became an official after the note was issued.