ARTICLE 6. Warrants
Article 6 added by Stats. 1943, Ch. 369.
§§ 8955–8982 · 28 sections
- § 8955 All money collected from assessments shall be paid out only on warrants issued for works or other expenses covered by the assessment from which the money was…
- § 8956 Each warrant shall designate the name and number of the assessment from which it is to be paid.
- § 8957 Drafts of the board may be presented to the Controller and warrants drawn against the funds to be raised by an assessment as soon as the board has passed its…
- § 8958 In case there are not sufficient funds applicable thereto for the payment of the warrants when presented to the State Treasurer, he shall indorse on the…
- § 8959 All such warrants shall be considered as contracts in writing for the payment of money, and the period prescribed for the commencement of an action based upon…
- § 8960 No statute of limitations shall be deemed to have run against any action upon or affecting any warrant drawn against any assessment under this part by reason…
- § 8961 The warrants shall, at any time within the period of four years, be received in payment of any assessment for work or expenses for which the warrants were…
- § 8962 The board may, at its option, at any time before payment of any warrant renew it upon application of the owner or holder thereof by an indorsement thereon of…
- § 8963 Whenever there is sufficient money in the treasury applicable to the payment of any outstanding warrants of the drainage district, the State Treasurer shall…
- § 8964 The notice shall be published for 10 days in one newspaper published in the City of Stockton and one published in the City of Sacramento.
- § 8965 After the last publication of the notice the warrants therein mentioned cease to bear interest.
- § 8966 The board shall designate a paper in each of the cities of Stockton and Sacramento which shall be the official papers of the drainage district for the purpose…
- § 8967 All warrants of the drainage district when received by the board, Department of Finance, the respective county treasurers or any other officer authorized by…
- § 8968 The Controller upon demand by the board shall cancel the warrants and credit the face value thereof, plus accrued interest thereon to the date of the tender of…
- § 8969 The Controller shall notify the State Treasurer of the cancellation and the State Treasurer shall then make the proper entries in his books.
- § 8970 Whenever any warrant drawn by the Controller upon the State Treasurer as provided in this chapter has been presented to the State Treasurer and not paid for…
- § 8971 When the State Treasurer pays a warrant he shall, in addition to the amount for which the warrant was drawn, pay the interest accrued thereon as certified to…
- § 8972 Whenever any unpaid, outstanding and interest-bearing warrant drawn by the Controller upon the State Treasurer as provided in this chapter is presented to the…
- § 8973 The sum of the substituted warrants shall equal the principal amount of the original warrant.
- § 8974 The Controller shall credit the original warrant to the fund upon which it was originally drawn and shall prepare and issue warrants in accordance with the…
- § 8975 When, upon presentation to the State Treasurer, payment can not be made for want of funds the State Treasurer shall register the warrants as of the date of…
- § 8976 The Department of Finance may, out of any funds of the State which it is authorized by law to invest, purchase at their face value and invest in any warrants…
- § 8977 The Department of Finance may exchange any warrants purchased pursuant to the next preceding section for other warrants drawn against the same assessment, and…
- § 8978 All such exchanges or sales of warrants shall be effected without loss to the State.
- § 8979 All warrants purchased or acquired by exchange by the Department of Finance shall be registered by the State Treasurer, unless already registered.
- § 8980 The warrants shall be payable with interest in their proper order of registration, as provided in this part.
- § 8981 The warrants shall, unless sold or exchanged, be held by the Department of Finance until paid.
- § 8982 Upon payment of the warrants the proceeds thereof shall be returned into the fund out of which the purchase or investment was made.