A better way to run code for a period of time

Question

I need to run some code for a predefined length of time, when the time is up it needs to stop. Currently I am using a TimerTask to allow the code to execute for a set amount of time but this is causing endless threads to be created by the code and is just simply not efficient. Is there a better alternative?

Current code;

// Calculate the new lines to draw 
            Timer timer3 = new Timer();
            timer3.schedule(new TimerTask(){
                public void run(){
                    ArrayList<String> Coords = new ArrayList<String>();
                    int x = Float.valueOf(lastFour[0]).intValue();
                    int y = Float.valueOf(lastFour[1]).intValue();
                    int x1 = Float.valueOf(lastFour[2]).intValue();
                    int y1 = Float.valueOf(lastFour[3]).intValue();
                    //Could be the wrong way round (x1,y1,x,y)?
                    Coords = CoordFiller.coordFillCalc(x, y, x1, y1);
                    String newCoOrds = "";
                    for (int j = 0; j < Coords.size(); j++)
                    {
                        newCoOrds += Coords.get(j) + " ";
                    }
                    newCoOrds.trim();
                    ClientStorage.storeAmmendedMotion(newCoOrds);

                }

            }
            ,time);