SECTIONS 42670-42678 - California Statutes

EDUCATION CODE

SECTION 42670-42678

42670. When any order against the funds of a school district is
presented to the county superintendent of schools, and the order
constitutes a valid claim against the funds of the district, and
moneys are not available in the funds of the district from which to
pay the order, he shall endorse on the order the words "Not approved
for want of funds" and shall register the order in the records of his
office.

42671. The county superintendent of schools shall number and date
the registered order and shall transmit the registered order to the
governing board of the school district which drew the order, and it
shall deliver the registered order to the payee or his order. From
the date of registration the registered order shall bear interest at
the rate of 5 percent per annum until the date upon which notice is
given, pursuant to this article, that the county superintendent of
schools is ready to approve the registered order.

42672. Whenever moneys are available for the payment of the
registered order the county superintendent of schools shall give
notice, in a newspaper published in the county, or if there is no
newspaper, by written notice posted at the courthouse, stating that
he is ready to approve the order. The notice may list any number of
registered orders of one or more districts for the payment of which
moneys are available, giving the name or names of the district or
districts and listing the registered orders in the order of
registration for each district.

42673. At the time of giving the notice the county superintendent
of schools shall set aside in the funds of each district for a period
of 60 days the amount necessary for the payment of the registered
orders of the district listed in the notice. If any registered order
is not presented to the county superintendent of schools for payment
within 60 days after the notice has been given, and moneys are not
available to pay the registered order at the time of presentation, it
shall not be approved until money becomes available for that purpose
and notice is again given that the county superintendent of schools
is ready to pay it.

42674. The county superintendent of schools shall approve the
registered orders of each district, and sign them as requisitions on
the county auditor, in the order of their presentation. He shall
enter on each the amount of interest due and the total amount,
including principal and interest, payable. Each approved registered
order shall thereupon be governed by the procedure established in
this code relative to payments from school district funds.

42675. As an alternative to the method provided in Section 42674,
when any corporation, firm, or person presents two or more registered
orders for payment at the same time, registered on the same date,
and issued against the funds of the same district, the registered
orders may be approved, allowed, and consecutively numbered by the
county superintendent of schools and the county auditor as
requisitions and warrants on the funds of the district, and a special
interest requisition may be issued by the county superintendent of
schools against the funds of the district for the total amount of the
interest payable on the registered orders.

42676. The special interest requisition shall bear upon its face
substantially the following notation: "In full payment of interest
due on warrants numbered __ to __, inclusive, of the ____ School
District."

42677. The special interest requisition shall be numbered by the
county superintendent of schools and county auditor, being given the
number immediately succeeding the number assigned to the last of the
requisitions and warrants referred to in Section 42675.

42678. The county superintendent of schools shall report to the
county treasurer and the county auditor within 10 days after the end
of each month the amount of the interest computed pursuant to this
article. The report shall show each district for which interest has
been computed, the numbers of the registered orders for which the
interest is to be paid, and the total amount of the interest charged
to each district. He shall also, upon transmitting to the governing
board of any school district registered orders which have been
approved and allowed as warrants against the funds of the district,
report in writing to the clerk or secretary of the district the
amount of interest computed on the registered orders and the numbers
of the registered orders for which the interest is to be paid.