Section 29826 Of Article 2. Payment And Registration From California Government Code >> Division 3. >> Title 3. >> Chapter 5. >> Article 2.
29826
. (a) Registered warrants shall be paid out of money in the
fund that may be properly applied to those warrants according to the
order in which each warrant was presented to the treasurer for
registration. Upon receipt of money into the fund, the treasurer
shall set apart so much of that money that may be properly applied to
the payment of registered warrants as is necessary for the payment
of principal and interest.
(b) When there is sufficient money in the fund to pay the warrants
drawing interest, the treasurer shall give notice to the registered
warrantholder by mail, or by published notice in a newspaper of
general circulation published in the county, or if none is published
therein, by written notice posted in an appropriate public notice
location in the courthouse. When advertising warrants in a newspaper,
the treasurer shall not publish the warrants in detail, but shall
give notice only that certain warrant numbers or series of numbers
stated in the notice are payable. From the date of mailing, or first
publication or posting of the notice, the warrants cease to draw
interest.
(c) A registered warrant that bears a maturity date shall be paid
by the county treasurer upon that date out of moneys then available.
However, if on the maturity date endorsed on a registered warrant,
there is no money available for its payment, the registered warrant
shall continue to bear interest and shall become payable in the same
manner as registered warrants not bearing maturity dates.
(d) If a registered warrant is not presented for payment within 60
days from the date of the notice required by subdivision (b), the
moneys set aside for its payment shall be applied by the treasurer to
the payment of unpaid warrants next in order of registry. When
finally presented, any properly endorsed warrant so bypassed shall be
paid by the treasurer when sufficient funds that may be properly
applied to the payment of registered warrants are next available.