SECTIONS 51460-51463 - California Statutes

WATER CODE

SECTION 51460-51463

51460. If there are unpaid matured warrants, other than warrants
payable from operation and maintenance assessment levies, on January
1st in any year, the board shall call and collect such portion of the
principal and interest of any available outstanding unbonded
assessment, other than an operation and maintenance assessment, as is
necessary to pay such warrants and any other warrants, other than
operation and maintenance warrants, which shall mature within 90 days
after January 1st.

51461. When, on the first day of January in any year there are
outstanding unpaid matured warrants of the district, other than
warrants payable from operation and maintenance assessment levies,
and there is no available outstanding unbonded assessment, the board
shall proceed at once to have an assessment levied in the manner
provided in Article 1 of this chapter.

51462. The board shall call and collect the assessment in the
manner provided in this part in the amount necessary to pay the
warrants.

51463. Nothing in this article shall prevent the board from making
other arrangements with holders of district warrants.