SECTIONS 29830-29839 - California Statutes

GOVERNMENT CODE

SECTION 29830-29839

29830. In lieu of the method in Article 2 (commencing with Section
29820) for the registration of county warrants, the provisions of
this article may be followed upon adoption of a resolution by the
board of supervisors.

29831. As used in this chapter, "committee" means the chief
administrative officer, auditor, and treasurer, or any other county
employee appointed by the board of supervisors.

29832. Whenever the county auditor draws a warrant upon the
treasury in an amount in excess of the balance of the fund, the
county auditor shall present it to the treasurer for registration.
The treasurer shall endorse upon its back the date of presentation by
the county auditor, that it is not paid for lack of funds, and that
it bears interest at the rate fixed pursuant to law from the date of
the registration to and including the date of maturity or the date
upon which the treasurer first advertises that is redeemable upon
presentation if it bears no date of maturity. Warrants so endorsed by
the treasurer are registered warrants.

29833. By a majority vote the committee shall fix the rate of
interest earned on registered warrants at not more than 5 percent per
annum.

29834. Registered warrants are entitled to preference as to payment
out of money in the fund properly applicable to the warrants
according to the order in which they were issued. Upon receipt of
money into the fund that is not otherwise appropriated, the treasurer
shall set apart as much as is necessary for the redemption of the
warrants.

29835. After registration, the treasurer shall return the warrant
to the county auditor for distribution to the payees.

29836. When there is sufficient money in the fund to redeem the
warrants drawing interest, the treasurer shall give notice in a
newspaper published in the county, or if none is published therein,
by written notice posted upon the courthouse door, stating the time
and locations at which the treasurer is ready to redeem the warrants.
From the first publication or posting of the notice, the warrants
cease to draw interest.

29837. In advertising warrants in a newspaper, the treasurer shall
not publish the warrants in detail, but shall give notice only that
county warrants registered by the treasurer prior to a date stated in
the notice are redeemable. When a portion of the warrants registered
by the treasurer are redeemable, the treasurer shall designate the
warrants redeemable in the advertisement.

29838. If the warrants are not presented for redemption within 60
days from the time given in the notice, the funds set aside for their
redemption shall be applied by the treasurer to the redemption of
unpaid warrants next in order of registry. On application and
presentation of properly endorsed warrants that have been advertised,
the treasurer may redeem the warrants out of any money in the fund
not otherwise appropriated.

29839. When the treasurer redeems any warrant upon which any
interest is due, the amount of interest shall be entered in the
account distinct from principal.