ARTICLE 1. Project and Government Contract Warrants

Article 1 added by Stats. 1961, Ch. 976.

§§ 45900–45907 · 8 sections

• § 45900 For the purpose of financing a district project or government contract which has been approved by the voters of the district, the board of directors may, by a…
• § 45901 Direct assessment warrants shall be signed by the president and secretary in face amount not exceeding in the aggregate the cost of the project or government…
• § 45902 Direct assessment warrants shall be made payable in amounts and at the times corresponding substantially to the amounts and times of payment of the…
• § 45903 Direct assessment warrants shall bear interest at a rate to be fixed by the board at the time of sale thereof, not to exceed 7 percent per year, which interest…
• § 45904 Coupons for the interest on these warrants may be attached to them.
• § 45905 Direct assessment warrants may be made payable to any of the following: (a) Bearer. (b) Persons furnishing work, labor or material. (c) The contractor if the…
• § 45906 Direct assessment warrants may be sold by the district for not less than par at either public or private sale.
• § 45907 Any surplus funds and any money held by a district in a sinking or depreciation fund may in the discretion of its board be invested in direct assessment…