Sec. 2-112.02. Short-Term Borrowing Tax Anticipation Notes

The County Executive is hereby authorized to borrow from time to time, upon the full faith and credit of Prince George's County, an amount or amounts not to exceed Fifteen Million Dollars ($15,000,000) in the aggregate at any one time, for the purpose of accommodating the cash flow requirements of the County Government in meeting its immediate obligations, and is authorized to execute as evidence of the said indebtedness or indebtednesses tax anticipation notes which shall be retired from tax revenues and other revenues received by the County. All tax anticipation notes signed and issued pursuant to the terms of this Section shall have a maturity date not to exceed one year from the date of the execution of the said note or notes.