SECTIONS 75460-75463 - California Statutes

WATER CODE

SECTION 75460-75463

75460. The project assessment, or any installment thereof, shall be
and remain a lien on the lands in the same manner as, and shall be
part of, the annual district assessment.

75461. The district shall issue warrants for the amount of the
project assessment, which warrants shall be made payable in the
amount and at times corresponding substantially to the payments of
the installments of the project assessment, plus any money to be paid
from funds secured by assessments for general district purposes as
provided in Section 75411, and which warrants shall bear interest at
such rate of interest as may have been fixed in the levy of the
project assessment.

75462. Such warrants shall be payable only out of funds derived
from the levy and collection of the project assessment and, if so
stated in the resolution proposing the project, from the assessments
made for general district purposes.

75463. The proceeds arising from the sale of the warrants shall be
paid into the treasury of the district and placed to the credit of a
special project fund and expended only for the purpose for which the
project assessment was authorized to be levied.