ARTICLE 2. Payment and Purchase of Bonds [24500. - 24507.]

Article 2 added by Stats. 1943, Ch. 372.

§§ 24500–24507 · 8 sections

• § 24500 Upon presentation of any matured bond of the district, the treasurer shall pay it from the bond principal fund.
• § 24501 Upon presentation of any matured interest coupon of any bond of the district, the treasurer shall pay it from the bond interest fund.
• § 24503 If the principal or interest of any bonds is payable from any special or sinking fund, it shall be payable from that fund.
• § 24504 If money is not available in the fund designated for the payment of any matured bond or interest coupon, it shall draw interest at the annual adjusted rate…
• § 24504.1 In the case of any district described in Section 20560.1 with respect to construction bonds issued for purposes of financing the works described in that…
• § 24505 A bond presented but not paid shall be stamped and provision made for its payment as in the case of a warrant payable on demand for the payment of which funds…
• § 24506 Whenever there is in any fund of the district money in excess of that required for the purposes of the fund up to the time when any part of the next annual…
• § 24507 Bonds so purchased may be canceled or held as a part of the district assets until the board determines that it is for the best interests of the district that…