Article 4. Installments Called To Pay Bonds of California Water Code >> Division 15. >> Part 7. >> Chapter 3. >> Article 4.

The installment of an assessment called to pay principal or interest on bonds pursuant to Section 51420 may be paid in cash or in bonds of the district, or their interest coupons, issued upon the assessment, which are matured or will mature within 90 days from the date of the calling of the installment, or part in cash and part in bonds or coupons.

Bonds and interest coupons received in payment for the assessment shall be accepted at face value.

Any bond or coupon received in payment for such an installment shall be canceled forthwith by the county treasurer and filed in his office.

Any part of the installment or any interest thereon which is unpaid at the expiration of 30 days from the date of the notice calling the installment, is delinquent, and 10 percent of the unpaid amount of the installment shall be added thereto and collected by the county treasurer.