PART 7. FINANCIAL ORGANIZATION [44400. - 44963.]
Part 7 added by Stats. 1951, Ch. 391.
§§ 44400–44963 · 64 sections
CHAPTER 1. General Financial Provisions §§ 44400–44457 · 8 sections
ARTICLE 1. Limitations on Liabilities §§ 44400–44401 · 2 sections
- § 44400 A district may not incur any debt or liability whatever in excess of the express provisions of this division. Any debt or liability so incurred is void.
- § 44401 Nothing contained in this article shall be construed to limit the right of the board to enter into any contract or lease for property, as in this division…
ARTICLE 2. Statements and Reports §§ 44425–44428 · 3 sections
- § 44425 The county treasurer of each of the several counties shall report all transactions of delinquencies on district assessments and sales of land within the…
- § 44426 The district treasurer shall report to the board in writing at its regular meeting in each month the amount of money in the district treasury and the amount of…
- § 44428 The board, following each fiscal year, shall render and promptly thereafter cause to be published in the county at least once a week for two successive weeks a…
ARTICLE 3. Payment of Claims §§ 44455–44457 · 3 sections
- § 44455 All claims against the district shall be paid by warrants of the district.
- § 44456 To provide a fund for payment of claims, the board may from time to time draw from the general fund deposited and kept to the credit of the district in the…
- § 44457 All claims for money or damages against the district are governed by Part 3 (commencing with Section 900) and Part 4 (commencing with Section 940) of Division…
CHAPTER 2. Warrants §§ 44600–44635 · 14 sections
ARTICLE 1. Execution §§ 44600–44602 · 3 sections
- § 44600 Warrants drawn by the department shall be drawn upon the treasurer of the district.
- § 44601 Warrants drawn by the board shall be signed by its president or vice president and secretary or assistant secretary and countersigned by the treasurer.
- § 44602 Warrants drawn by the board for payment of principal or interest on bonds shall be drawn upon the county treasurer of a county having funds belonging to the…
ARTICLE 2. Payment §§ 44625–44635 · 11 sections
- § 44625 The provisions of this article are applicable only to warrants payable on demand.
- § 44626 Whenever any warrant of the district is presented for payment when funds are not available for payment, it shall thereafter draw interest at a rate determined…
- § 44627 Upon the presentation of warrants for payment when funds for payment are not available, the treasurer of the district or of the county, as the case may be,…
- § 44628 The treasurer shall keep a record showing all of the following: (a) Number and amount of each registered warrant. (b) Date of its issuance. (c) Person in whose…
- § 44629 The registered warrant is a contract in writing for the payment of money, and the period prescribed for the commencement of an action based upon the warrant is…
- § 44630 Whenever there is sufficient money in the treasury to pay all outstanding registered warrants or whenever the board orders that all registered warrants…
- § 44631 The notice shall state that the treasurer is prepared to pay all registered warrants or all registered warrants presented for payment prior to the date fixed…
- § 44632 The notice shall be published once a week for two successive weeks in some newspaper published in the office county.
- § 44633 All warrants designated in the notice shall cease to draw interest at the time of the first publication of the notice.
- § 44634 Upon the presentation of any warrant entitled to payment under the terms of the notice, the treasurer shall pay it together with interest due on it from the…
- § 44635 The treasurer shall enter all of the following in the record of registered warrants he is required to keep: (a) Dates of the payment of all the warrants. (b)…
CHAPTER 3. Funds §§ 44750–44853 · 18 sections
ARTICLE 1. Proceeds of Bond Sales §§ 44750–44751 · 2 sections
ARTICLE 2. Proceeds of Assessments §§ 44775–44778 · 4 sections
- § 44775 The county treasurer shall deposit in the county treasury to the credit of the bond fund of the district all money collected upon any assessment upon which…
- § 44776 Money collected upon any assessment upon which bonds have been issued shall be used exclusively for the payment of principal and interest of the bonds issued…
- § 44777 The county treasurer shall transmit to the treasurer of the district all canceled bonds and coupons received in payment on any delinquent sale and a memorandum…
- § 44778 Any balance remaining in the bond fund after payment in full of the principal and interest of all outstanding bonds of the district shall be transferred by the…
ARTICLE 3. Proceeds of Sale of Land §§ 44800–44806 · 8 sections
- § 44800 Any parcel of land bid in and purchased by any county treasurer as trustee of the bond fund of the district may be sold and conveyed by him or his successor in…
- § 44800.5 Any parcel of land bid in and purchased by any county treasurer as trustee of the bond fund of the district as provided in this division may, without notice,…
- § 44801 Payment may be made either in cash or in matured bonds and coupons issued on the assessment, taken at their face value.
- § 44802 The treasurer shall execute a deed to the purchaser upon the sale, conveying the property free of encumbrances, except as provided for deeds where no…
- § 44803 If any land held by a county treasurer as trustee of the bond fund of a district remains unsold after the final installment of the assessment has been…
- § 44804 Notice of the sale shall be given by publication once a week for two successive weeks in some newspaper published in the county in which the land is situated.
- § 44805 The county treasurer shall deposit the proceeds of the sale in the treasury of the county to the credit of the bond fund of the district.
- § 44806 Each county treasurer shall charge to the general fund of the district, or to the bond fund if he has no money to the credit of the general fund, the expense…
ARTICLE 4. Alternative Provisions for the Deposit of Funds §§ 44850–44853 · 4 sections
- § 44850 This article provides an alternative procedure for the deposit of all, or any part of, proceeds of bond sales, proceeds of assessments and proceeds of sale of…
- § 44851 The board may at any time, by resolution, elect to proceed under this article with respect to the deposit of funds of the district, and the board may at any…
- § 44852 Any money belonging to a district may be deposited by the treasurer pursuant to the general laws governing the deposit of public money.
- § 44853 Where the deposit of money is insured by the Federal Deposit Insurance Corporation no additional security need be required from the bank for the portion of the…
CHAPTER 4. Warrants Payable at Future Times §§ 44900–44910 · 11 sections
- § 44900 If any contract or lease for the acquisition of property provides for any future payments by the district, warrants may be issued, on order of the board, for…
- § 44901 When a particular purpose or emergency assessment has been authorized, warrants in an amount equal to the amount of the assessment may be issued on order of…
- § 44902 Any outstanding registered warrants and their accrued interest may be refunded by the issuance of warrants payable at stated times fixed by the board. These…
- § 44903 Warrants payable at a future time or times may be issued in consideration of money loaned to the district for the purchase of any of its outstanding bonds or…
- § 44904 Warrants payable at a future time or times may also be issued to obtain funds or property for any lawful purpose of the district.
- § 44905 Any warrant authorized in the preceding sections of this article shall draw interest at a rate to be fixed by the board not to exceed 6 percent per year…
- § 44906 Coupons payable to bearer in a form and signed as prescribed by the board may be attached to warrants payable at a future date to evidence their interest.
- § 44907 Warrants of any district may be issued to evidence the indebtedness allowed to be incurred prior to the levy of the first district assessment, bearing interest…
- § 44908 If any district owns any property which it is authorized to lease or sell, its board may in the contract providing for the issuance of warrants payable at a…
- § 44909 No warrants issued pursuant to this article made payable more than five years from the date of issuance shall be valid unless their issuance is authorized by a…
- § 44910 Notice of the election shall be given and the election shall be held and the result determined as nearly as practicable in the manner provided for bond…
CHAPTER 5. Revenue Warrants §§ 44950–44963 · 13 sections
- § 44950 A district may issue revenue warrants pursuant to this chapter to obtain funds for any lawful purpose of the district, including the repayment of indebtedness…
- § 44951 Revenue warrants shall be secured by all or part of the revenues received by the district from tolls or charges levied pursuant to Section 43006 or from any…
- § 44952 Revenue warrants shall bear interest at a rate or rates not exceeding 8 percent per annum, payable annually or semiannually or in part annually and in part…
- § 44953 Revenue warrants shall mature at such time or times as the board may prescribe, but not more than five years from the date of issuance.
- § 44954 Revenue warrants may be made subject to redemption prior to their fixed maturity date upon such terms, conditions and notice, and at such times and prices, as…
- § 44955 Revenue warrants may be sold at either public or private sale upon such terms and conditions as the board may determine. Such warrants may be sold at less than…
- § 44957 The board may determine the form and denomination of revenue warrants, the manner of their execution, their registration and exchange privileges and the place…
- § 44958 The board, in a resolution authorizing the issuance of revenue warrants, may provide for special funds for the deposit and application of the proceeds of the…
- § 44959 The board, in a resolution authorizing the issuance of revenue warrants, may covenant to operate and maintain the facilities producing the revenues pledged for…
- § 44960 The board, in a resolution authorizing the issuance of revenue warrants, may provide for paying the interest on the revenue warrants for a period of not more…
- § 44961 Except as otherwise provided in any resolution authorizing the issuance of revenue warrants, the holder of any revenue warrant may by mandamus or other…
- § 44962 Revenue warrants shall not be issued under this chapter by any district in any one fiscal year in excess of one million dollars ($1,000,000).
- § 44963 Notwithstanding the provisions of Sections 44953 and 44962, revenue warrants may be issued prior to August 1, 1978, pursuant to this chapter for a term not to…