Section 15233 Of Article 8. Method Of Bond Payment From California Education Code >> Division 1. >> Title 1. >> Part 10. >> Chapter 1. >> Article 8.
15233
. (a) The principal and interest on the bonds shall be paid by
the county treasurer of the county, the superintendent of schools of
which has jurisdiction of the district in behalf of which the bonds
were issued, at the place required by the terms of the bonds, upon
presentation and surrender of warrants drawn by the county auditor in
payment thereof, after he or she has canceled the bonds and coupons,
or upon the receipt of the registered owner, if the bonds are
registered, after a proper warrant has been drawn by the auditor, out
of the fund provided for their payment.
(b) Notwithstanding subdivision (a), if the board of supervisors
has designated the office of a trustee or paying agent as the place
for payment of the principal and interest of the bonds, then upon
receipt of moneys representing the principal and interest on those
bonds, the trustee or paying agent shall be responsible for the
actual payment to the bondholders and cancellation of any bonds or
coupons.