SECTIONS 29820-29828 - California Statutes

GOVERNMENT CODE

SECTION 29820-29828

29820. When a warrant is presented for payment, if there is money
in the fund for that purpose, the treasurer shall pay it by any of
the following methods:
(a) By stamping thereon or perforating therein the word "Paid" and
the date of payment.
(b) In accordance with those practices with respect to form,
issuance, delivery, endorsement, and payment as approved by the
governing board pursuant to Section 53910.
(c) By accepting the paid data per the treasurer's bank.
At the option of the treasurer, warrants may be payable at the
treasurer's office or at any bank at which money of the county is
deposited.

29821. Whenever an issuing officer draws a warrant upon the fund in
an amount that exceeds the balance of the fund and the issuing
officer determines that the warrant requires registration, the
issuing officer shall, prior to the issuance of that warrant, present
it to the treasurer for registration pursuant to Section 29823.

29822. The governing board of any local agency may, by the
affirmative vote of a majority of its members, adopt a resolution
authorizing the issuing of registered warrants. Any resolution
adopted pursuant to this section shall state all of the following:
(a) The reason for issuing registered warrants.
(b) The treasurer's fund number or numbers upon which the warrants
are to be drawn.
(c) The maturity date of the registered warrants where the
warrants are issued for a period of fixed duration.
Any resolution adopted pursuant to this section shall be submitted
to the issuing officer prior to the time any claims or orders are
presented.
All approved local agency claims or orders drawn against a fund or
funds subject to the issuance of registered warrants authorized
pursuant to this section shall be clearly stamped with the following:
"Submitted for Registered Warrant Pursuant to Board Authorization No.
____, dated ____."
Each warrant issued pursuant to a resolution adopted pursuant to
this section shall, prior to issuance, be presented to the treasurer
for registration pursuant to Section 29823.

29823. The treasurer shall register any warrant presented to him or
her pursuant to Section 29821 or 29822 by endorsing upon the back of
that warrant all of the following:
(a) The date the warrant was presented to him or her.
(b) That the warrant is not paid for lack of funds.
(c) That the warrant bears interest at the rate fixed by law from
the date of registration to and including the date of maturity, or
the date of the treasurer's first notice pursuant to subdivision (b)
of Section 29826.
Any warrant registered pursuant to this section shall be returned
to the issuing officer for disbursement.

29824. (a) The rate of interest payable on a registered warrant
shall be determined by a ratesetting committee upon the affirmative
vote of a majority of its members. A ratesetting committee shall
consist of the auditor, the treasurer, and one representative of the
issuing local agency, and shall in its discretion set a rate of
interest payable on registered warrants that is consistent with sound
business principles.
(b) Interest on registered warrants shall be paid on the basis of
actual days and a 365-day year, and shall accrue to the holder of the
warrant on the date of redemption. A registered warrant shall cease
to bear interest on any maturity date endorsed on its face, if on
that date unapplied money is available for its payment, or on the
date of the treasurer's notice pursuant to subdivision (b) of Section
29826.

29825. The treasurer shall maintain a separate register for
registered warrants that records for each registered warrant all of
the following information:
(a) The date on which the warrant is presented.
(b) The rate of interest payable on that warrant.
(c) Any specified maturity date of that warrant.

29826. (a) Registered warrants shall be paid out of money in the
fund that may be properly applied to those warrants according to the
order in which each warrant was presented to the treasurer for
registration. Upon receipt of money into the fund, the treasurer
shall set apart so much of that money that may be properly applied to
the payment of registered warrants as is necessary for the payment
of principal and interest.
(b) When there is sufficient money in the fund to pay the warrants
drawing interest, the treasurer shall give notice to the registered
warrantholder by mail, or by published notice in a newspaper of
general circulation published in the county, or if none is published
therein, by written notice posted in an appropriate public notice
location in the courthouse. When advertising warrants in a newspaper,
the treasurer shall not publish the warrants in detail, but shall
give notice only that certain warrant numbers or series of numbers
stated in the notice are payable. From the date of mailing, or first
publication or posting of the notice, the warrants cease to draw
interest.
(c) A registered warrant that bears a maturity date shall be paid
by the county treasurer upon that date out of moneys then available.
However, if on the maturity date endorsed on a registered warrant,
there is no money available for its payment, the registered warrant
shall continue to bear interest and shall become payable in the same
manner as registered warrants not bearing maturity dates.
(d) If a registered warrant is not presented for payment within 60
days from the date of the notice required by subdivision (b), the
moneys set aside for its payment shall be applied by the treasurer to
the payment of unpaid warrants next in order of registry. When
finally presented, any properly endorsed warrant so bypassed shall be
paid by the treasurer when sufficient funds that may be properly
applied to the payment of registered warrants are next available.

29827. When the treasurer pays any warrant upon which any interest
is due, he or she shall note on the warrant the amount of interest
paid and enter on his or her account the amount of the interest
distinct from the principal.

29828. Actual costs incurred for warrant registration, record
maintenance, notification, interest calculation, and payment
processing may be recovered from the issuing entity as administrative
costs by the county treasurer.