SECTIONS 51560-51563 - California Statutes

WATER CODE

SECTION 51560-51563

51560. The installment of an assessment called to pay principal or
interest on bonds pursuant to Section 51420 may be paid in cash or in
bonds of the district, or their interest coupons, issued upon the
assessment, which are matured or will mature within 90 days from the
date of the calling of the installment, or part in cash and part in
bonds or coupons.

51561. Bonds and interest coupons received in payment for the
assessment shall be accepted at face value.

51562. Any bond or coupon received in payment for such an
installment shall be canceled forthwith by the county treasurer and
filed in his office.

51563. Any part of the installment or any interest thereon which is
unpaid at the expiration of 30 days from the date of the notice
calling the installment, is delinquent, and 10 percent of the unpaid
amount of the installment shall be added thereto and collected by the
county treasurer.