CHAPTER 3. Funds
Chapter 3 added by Stats. 1943, Ch. 372.
§§ 24475–24530 · 30 sections
ARTICLE 1. Funds Generally §§ 24475–24486 · 12 sections
- § 24475 The following funds are created to which district money properly belonging shall be apportioned: (a) Bond principal fund. (b) Bond interest fund. (c)…
- § 24476 A district may provide for a reserve fund to be used for the payment of the interest or principal of any outstanding bonds. If the estimate referred to in…
- § 24477 A district may establish any fund required to comply with the terms of any plan by which any bonds are to be paid.
- § 24478 To the extent that any fund contains money applicable to a sinking fund provided for in a refunding plan or modification of it, the treasurer shall withdraw…
- § 24479 Surplus funds on hand and available for payment into a refunding bond sinking fund may on order of the board be paid into it.
- § 24480 Any money in a refunding bond sinking fund may be invested in bonds of the United States or of this State.
- § 24481 Federal and State bonds so purchased with the sinking fund money together with the income from them shall be held as part of the sinking fund until the board…
- § 24482 The proceeds from the sale of any bonds in which any part of the sinking fund was invested shall be deposited in the sinking fund.
- § 24483 The proceeds of the annual assessment shall be paid into the district treasury and be apportioned to the several proper funds.
- § 24484 The proceeds of limited assessments shall be paid into the district treasury for the purpose for which the assessments were respectively authorized.
- § 24485 The proceeds from the lease or sale of any property specifically allocated to the payment of warrants shall be placed in a separate fund and shall not be…
- § 24486 Whenever an object for which money has been specifically provided by district assessment or by bond issue has been accomplished and any money provided therefor…
ARTICLE 2. Payment and Purchase of Bonds §§ 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…
ARTICLE 2.5. Distribution District Funds §§ 24510–24513 · 4 sections
- § 24510 Payments on behalf of a distribution district shall be made only out of the proceeds and charges for the use of water or other service levied or fixed and…
- § 24511 Distribution district warrants shall be used solely for making payments which may be required to carry out the requirements of a contract between a…
- § 24512 If the proceeds from any distribution district assessment or charge exceed the amounts necessary for the purpose for which they were levied, the excess may…
- § 24513 Receipts from assessments levied and charges fixed in connection with distribution districts shall be deposited in a separate fund for the benefit of the…
ARTICLE 3. Improvement District Funds §§ 24525–24530 · 6 sections
- § 24525 The cost of improvement district improvements shall be paid only out of the proceeds of an improvement district assessment levied upon and collected from the…
- § 24526 Improvement district warrants shall be paid only out of the proceeds of an improvement district assessment levied upon and collected from the land within the…
- § 24527 Improvement district warrants or their proceeds shall be used solely for making the improvements for which the improvement district was formed and the…
- § 24528 The cost of the improvement for an improvement district may be paid immediately from either the general fund of the district or from any special or…
- § 24529 If the proceeds from any improvement district assessment levied for improvement purposes exceeds the final amount necessary for the purposes for which it was…
- § 24530 Receipts from assessments levied for the operation of improvement districts and charges in lieu of the assessments, when collected, shall be deposited in a…