SECTIONS 9550-9558 - California Statutes

WATER CODE

SECTION 9550-9558

9550. If no bid is made for any parcel at the delinquent sale equal
to the amount of installment or installments delinquent thereon,
including the penalty, the county treasurer shall bid in and sell the
parcel to the drainage district for the amount of the installment or
installments and penalty.

9551. Any parcel of land bid in and purchased by the drainage
district at the delinquent sale shall be held in trust for the bond
fund of the assessment upon which the land was sold and may be sold
and conveyed by the board at any time after the expiration of the
redemption period of one year at public or private sale, with or
without notice to any person paying not less than the amount for
which the parcel was bid in by the county treasurer at the delinquent
sale, with interest thereon at the rate of 12 per cent per annum
compounded yearly from the date of the delinquent sale, and also the
amount of all subsequent installments then delinquent, with accrued
interest and penalties thereon.

9552. Payment for the land purchased under the next preceding
section may be made by the purchaser either in cash or matured bonds
and coupons issued upon assessment taken at their face value.

9553. The board shall execute a deed to the purchaser at the sale
conveying the property, free of encumbrances except State, county and
other municipal taxes, assessments levied or assessed by statutory
authority, and the unpaid balance of any assessment thereon levied by
the board on lands in the drainage district.

9554. The purchase price received in cash shall be paid by the
board to the State Treasurer and any bonds or coupons received in
payment by the board shall be canceled by the board and delivered to
the State Treasurer.

9555. All such money paid over and the canceled bonds or coupons
delivered to the State Treasurer shall be credited to the bond fund
of the assessment.

9556. If any land held by the drainage district, pursuant to the
provisions of this chapter, remains unsold after the final
installment of the assessment has been collected by payment or sale,
then the board shall sell all such lands at public auction to the
highest bidder for cash, upon two weeks published notice
substantially in the manner provided for notice upon delinquent
sales.

9557. The board shall execute to the purchaser a conveyance of the
land free of incumbrances except State, county and municipal taxes,
and assessments levied or assessed by statutory authority.

9558. The board shall deposit the proceeds of the sale with the
State Treasurer to the credit of the bond fund of the assessment.