SECTIONS 9521-9530 - California Statutes

PUBLIC RESOURCES CODE

SECTION 9521-9530

9521. (a) Except as provided in subdivision (b), the treasury of
the principal county is the depository of all of the funds of the
district.
(b) As an alternative to using the county treasury as depository,
a district may adopt a resolution transferring responsibility for the
district treasury to the board of directors of the district, which
shall deposit district funds as provided in Article 2 (commencing
with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5
of the Government Code. Following adoption of the resolution, the
provisions of this article relating to the county treasurer and
county treasury shall not apply to the district.

9522. The treasurer of the principal county shall receive and
receipt for all money of the district and place the same to the
credit of the district. He is responsible on his official bond for
the safekeeping and disbursement, in the manner provided in this
article, of the money of the district held by him.

9523. The treasurer shall pay out money of the district only upon
warrants approved by the county auditor, drawn upon order of the
board of directors signed by the president and attested by the
secretary.
Whenever two or more districts enter into a joint powers
agreement, or whenever a district enters into a joint powers
agreement with other agencies of the state, the agency or entity
administering the agreement shall determine where its funds shall be
deposited and how such funds shall be paid out.

9524. The treasurer shall report in writing at each regular meeting
of the directors and as often at other times as the directors may
request the amount of money on hand, and the receipts and
disbursements since his last report. The report shall be verified and
filed with the secretary.

9525. The directors or other officers or employees of a district
shall have no power to incur any indebtedness or liability in excess
of the amount of money available under the provisions of this
division. Any debt or liability incurred in excess of the express
provisions of this division is void. Except, however, that nothing in
this section shall prevent the directors from borrowing from such
federal, state, county, public or private funds which are, or which
may in the future become, available to the directors for the
furthering of the work of the district in any manner or by the sale
of bonds payable solely from any revenue of the district, if the
assets acquired by such a loan or bond constitute the entire security
for the loan or bond and if no indebtedness or liability is incurred
by the directors in excess of the amount of the assets acquired.

9526. The directors at their regular monthly meeting in July of
each year shall make and file with the secretary a verified statement
of the financial condition of the district showing particularly the
receipts and disbursements of the preceding fiscal year together with
the source of the receipts and the purposes of the disbursements.

9527. The annual financial statement shall be posted or published
as the directors may determine. Such posting or publication shall be
commenced within 10 days after the financial statement is filed with
the secretary. If it is posted it shall be posted at the place of
regular meeting of the directors and copies thereof shall be made
available for delivery to any landowner in the district upon his
request to the secretary. If the statement is published, it shall be
published pursuant to Section 6066 of the Government Code in the
principal county and in each other county in which any part of the
district lies.

9528. An annual audit of the books, accounts, records, papers,
money, and securities shall be made as required by Section 26909 of
the Government Code.

9529. The directors of the district may, at such times as they deem
necessary, determine whether any portion of the money on deposit in
the treasury of the principal county is not necessary for immediate
use; and if so, it shall determine the amount, which amount shall
thereupon be designated as "surplus money" and transferred to a
"surplus money account" in the treasury of the principal county.

9530. (a) "Surplus moneys," as determined pursuant to Section 9529,
shall be invested exclusively in bonds or interest-bearing notes or
obligations of the United States, or those for which the faith and
credit of the United States are pledged for the payment of principal
and interest.
(b) Interest earned and other increment derived from any
investment under this section shall be credited to the surplus money
account for investment under this section.