Code Section Group

Water Code - WAT

DIVISION 11. IRRIGATION DISTRICTS [20500 - 29978]

  ( Division 11 added by Stats. 1943, Ch. 372. )

PART 7. IMPROVEMENT DISTRICTS IN IRRIGATION DISTRICTS [23600 - 24103]

  ( Part 7 added by Stats. 1943, Ch. 372. )

CHAPTER 4. Functioning of Improvement Districts [23950 - 24021]

  ( Chapter 4 added by Stats. 1943, Ch. 372. )

ARTICLE 2. Improvement District Warrants [23975 - 23981]
  ( Article 2 added by Stats. 1943, Ch. 372. )

23975.
  

A district may issue improvement district warrants signed by its president and secretary in face amount not exceeding in the aggregate the cost of the improvements exclusive of interest and amounts paid prior to the issuance of these warrants on the assessment levied to pay for the improvement.

(Added by Stats. 1943, Ch. 372.)

23976.
  

Improvement district warrants shall be made payable in amounts and at the times corresponding substantially to the amounts and times of payment of the installments of the improvement district assessment.

(Added by Stats. 1943, Ch. 372.)

23977.
  

Improvement district warrants shall bear interest at the rate fixed at the time of the levy of the improvement district assessment, and the interest may be made payable semiannually.

(Added by Stats. 1943, Ch. 372.)

23978.
  

Coupons for the interest on these warrants may be attached to them.

(Added by Stats. 1943, Ch. 372.)

23979.
  

Improvement district warrants may be made payable to any of the following:

(a) Bearer.

(b) Persons furnishing work, labor, or material.

(c) The contractor if the work of improvement is to be done under contract.

(Added by Stats. 1943, Ch. 372.)

23980.
  

Improvement district warrants may be sold by the district for not less than par at either public or private sale.

(Added by Stats. 1943, Ch. 372.)

23981.
  

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 the warrants of any improvement district within the district.

(Amended by Stats. 1947, Ch. 536.)

WATWater Code - WAT2.