The Controller may disburse funds for short-term advances to the Anne Arundel County Employees' Federal Credit Union on the following conditions: prior to disbursement, the advances must have the written approval of the County Executive and the Chief Administrative Officer; the advances shall be limited to not more than 15% of the total assets of the Credit Union; and the advances must bear interest at the average rate of investment rate for the County and shall be repaid in full within 120 days from the date of disbursement.
(1985 Code, Art. 6, § 10-102) (Bill No. 13-89)