§ 10-182.01. Authorization.

(a)

Under the provisions of Section 814 of the Charter of Prince George's County, Maryland, and upon the request of the County Executive the Finance Director is hereby authorized to effect interfund cash borrowings not to exceed 22.5 Million Dollars ($22,500,000) from the Capital Project Fund to the General Fund to meet temporary cash requirements.

(b)

Under the provisions of Section 814 of the Charter for Prince George's County and upon the request of the County Executive, the Director of Finance, and his successor in office, is hereby authorized to effect interfund cash borrowings to meet temporary cash requirements and to allow for reimbursements among funds designated in the accounting records of Prince George's County, Maryland.

(c)

Interfund cash borrowings to meet temporary cash requirements and to provide for reimbursements among funds, in accordance with the procedures and limitations set forth herein, may be effected by the Director of Finance regardless whether the services to be provided by the borrowing fund are within the scope of the activities financed by the lending fund; such borrowings, when so effected, shall be considered lawful interfund loans or charges for services rendered by one fund to another and shall not be construed as a diversion of appropriated funds.

(CB-27-1971; CB-95-1973; CB-92-1975; CB-162-1978; CB-38-1991; CB-6-2003)

Editor's note

Pursuant to the provisions of CB-38-1991, between May 7, 1991, and September 1, 1991, the amount of the interfund cash borrowings was amended not to exceed $60,000,000; after September 1, the amount reverted to $22,500,000.