How to define local repository path in settings.xml or pom.xml?

[Petr V.]

I am trying to define local repository path in settings.xml on Windows.

I have a windows environment variable CODE_BASE=C:\mycode

In settings.xml , I put

<localRepository>${env.CODE_BASE}\build\local_depot</localRepository>

But it does not read environment variable. How can I read environment variable 
in settings.xml.

If that's not a possibility, can I define local repository in pom.xml of 
project?

Your help will be much appreciated.

Thanks,