Water Code, 1943

A notice that the annual financial statement is available for inspection and review must be published at least once a week for two weeks in a newspaper in the county where the district’s principal office is located.

An officer with legal custody of district money may deposit it under the general laws on depositing public money.

If a deposit is insured by the FDIC, the bank does not need to require additional security for that insured portion.

If the district has arranged with the Reconstruction Finance Corporation, it may deposit district funds in the Federal Reserve Bank of the United States or any branch without providing security or interest.

The board may withdraw money from the construction fund and deposit it in the county treasury when the fund exceeds $25,000.

The county treasurer must receive district money deposited with him, credit it to the district, and be responsible on his official bond for its safe-keeping and disbursement.

The county treasurer may pay district money only to the district treasurer, and only if the board’s order is signed by the president and attested by the secretary.

A county treasurer who handles district money must give a written monthly report and file it with the secretary.

The board may, by resolution, create special accounts from the general fund and choose who will hold custody of those accounts.

Special accounts are to be supplied from the general fund by warrant, in the same way as payment of a claim against the district.

A person in custody of a special account must file a verified monthly report with the board and the secretary.

Special-account payments may be made only with a written order from a board-designated person.

This section creates four district funds and says district money properly belonging must be apportioned to them.

A district may create a reserve fund for paying bond interest or principal, and may create a revenue bond reserve fund in specified circumstances.

A district may establish any fund needed to comply with a bond payment plan.

If a fund includes money for a sinking fund under a refunding plan, the treasurer must withdraw that money as required by the plan and use it according to the plan’s terms.

The board may order surplus funds to be paid into a refunding bond sinking fund.

Money in a refunding bond sinking fund may be invested in U.S. bonds or State bonds.

Bonds purchased with sinking fund money, and the income from them, must be kept as part of the sinking fund until the board decides selling them is in the district’s best interests.

Money received from selling bonds that had sinking fund money invested in them must be deposited back into the sinking fund.

Annual assessment proceeds must be paid into the district treasury and apportioned to the proper funds.

Proceeds from limited assessments must be paid into the district treasury and used for the purpose they were authorized for.

Money from leasing or selling property set aside to pay warrants must go into a separate fund and cannot be used for anything else until the warrants are fully paid.

If money set aside for a district purpose has been used for that purpose and some of it is still unspent, the board may move the leftover money to the general fund.

When a matured district bond is presented, the treasurer must pay it from the bond principal fund.

When a matured interest coupon for a district bond is presented, the treasurer must pay it from the bond interest fund.

Principal or interest on bonds must be paid from the special fund or sinking fund if payable from that fund.

If a fund lacks money to pay a matured bond or interest coupon, the unpaid amount accrues interest at the annual adjusted rate set by the Franchise Tax Board.

If the designated payment fund lacks money, unpaid matured bonds or interest coupons continue to earn interest at the bond’s rate until notice that funds are available.

If a bond is presented and not paid, it must be stamped and arrangements must be made for payment.

The district may use surplus money in a fund to buy some of its outstanding bonds that are not yet due.

Bonds purchased under this section may be canceled or held as district assets until the board decides it is best for the district to sell them; any bond not resold before maturity must be canceled.

A distribution district may pay only from specified water-service proceeds and charges.

Distribution district warrants may be used only to make payments needed to carry out a contract with the United States under federal reclamation laws.

If distribution district assessment or charge proceeds exceed what is needed, the excess may be kept in a proper fund for district operations or moved to the district’s general fund.

Receipts from distribution-district assessments and charges must be placed in a separate fund and used to make payments required under the district’s contract with the United States.

The cost of improvement district improvements must be paid only from assessment proceeds collected from land in the improvement district for improvement purposes.

Improvement district warrants may be paid only from the proceeds of an improvement district assessment collected from land within the district for improvement purposes.

Improvement district warrants or their proceeds must be used only for the improvements the district was formed to make, plus necessary incidental expenses.

An improvement district’s improvement costs may be paid immediately from the district’s general fund or an available special or construction fund, and the advance must later be repaid to that fund when assessments are collected or improvement district warrants are sold.

If an improvement district assessment brings in more than needed, the excess may be handled in one of three ways.

Receipts from improvement-district assessments, and charges replacing those assessments, must be deposited in a separate fund for the district’s benefit and operation.

The treasurer may pay a claim only after the board allows it and only if the warrant is signed by the president and countersigned by the secretary.

Officers or employees who submit claims against a district for mileage, personal expenses, or money spent for the district must file them with the board on a district-furnished form.

Claims under Section 24601 must be itemized in detail to show specified expense information.

A person who presents a claim under Section 24601 must verify it before the secretary or another person legally authorized to administer oaths.

A claim verification must state that the money was actually spent or mileage was actually traveled for district duties, and that the claim is made in good faith and has not already been paid.

If a property acquisition contract or lease requires future payments by the district, the board may order warrants to be issued for those payments.

If a particular-purpose or emergency assessment has been authorized, the board may issue warrants equal to the assessment amount, and the warrants must be payable when the board estimates they can be paid from assessment proceeds.

Registered warrants and accrued interest may be refunded by issuing new warrants payable at times fixed by the board.

The district may issue future-time warrants for certain financing purposes, and the warrants’ annual interest must be lower than the interest on the bonds or contract being paid off.

Warrants payable at a future time or times may be issued to obtain funds or property for any lawful purpose of the district.