SECTIONS 44625-44635 - California Statutes

WATER CODE

SECTION 44625-44635

44625. The provisions of this article are applicable only to
warrants payable on demand.

44626. Whenever any warrant of the district is presented for
payment when funds are not available for payment, it shall thereafter
draw interest at a rate determined by resolution of the board, not
to exceed 7 percent per year, until public notice is given that such
funds are available.

44627. Upon the presentation of warrants for payment when funds for
payment are not available, the treasurer of the district or of the
county, as the case may be, shall endorse on them all of the
following:
(a) "Funds not available for payment."
(b) The date of presentation.
(c) The interest that the warrants shall thereafter bear.
(d) His signature.
A warrant so registered is a registered warrant.

44628. The treasurer shall keep a record showing all of the
following:
(a) Number and amount of each registered warrant.
(b) Date of its issuance.
(c) Person in whose favor it was issued.
(d) Date of its presentation for payment.

44629. The registered warrant is a contract in writing for the
payment of money, and the period prescribed for the commencement of
an action based upon the warrant is four years from the date of
issuance.

44630. Whenever there is sufficient money in the treasury to pay
all outstanding registered warrants or whenever the board orders that
all registered warrants presented for payment prior to a certain
date be paid and there is sufficient money available for payment, the
proper treasurer shall give notice of this.

44631. The notice shall state that the treasurer is prepared to pay
all registered warrants or all registered warrants presented for
payment prior to the date fixed by the board. No further description
of the warrants entitled to payment need be made in the notice.

44632. The notice shall be published once a week for two successive
weeks in some newspaper published in the office county.

44633. All warrants designated in the notice shall cease to draw
interest at the time of the first publication of the notice.

44634. Upon the presentation of any warrant entitled to payment
under the terms of the notice, the treasurer shall pay it together
with interest due on it from the date of its original presentation
for payment to the date of the first publication of the notice.

44635. The treasurer shall enter all of the following in the record
of registered warrants he is required to keep:
(a) Dates of the payment of all the warrants.
(b) Names of the persons to whom payments are made.
(c) Amount paid to each person.