At least 90 days before the interest date of bonds or refunding bonds, the county treasurer shall estimate the amount necessary to pay interest and principal maturing on the interest date, crediting thereon the funds in the treasury applicable to the payment thereof, and excluding therefrom any funds deposited pursuant to Chapter 5, Article 4 of this part, or derived from the sale of lands by the county treasurer as trustee of the district under the provisions of Articles 1 and 2 of Chapter 5 of this part. The estimate shall include expenses of the county treasurer plus 15 percent of the aggregate sum to cover possible delinquencies.
Levy of AssessmentsCalling Bonded Assessments
Section § 51420
At least three months before bonds are due for interest or repayment, the county treasurer must calculate how much money is needed to cover them. This calculation includes subtracting certain funds that are already applicable or derived from specific land sales, and adding a 15% cushion to cover any potential late payments. The estimate should also cover the treasurer's expenses.
county treasurer bond interest payment principal maturing
Section § 51421
This law requires the county treasurer to publish a notice in a local newspaper when a new installment of an assessment is due in a reclamation district. The notice must be published once a week for two weeks. It includes details about the amount owed, the payment deadline, and penalties for late payments. If the installment is not paid by the specified date, a 10% penalty is added to the owed amount.
The county treasurer shall thereupon cause to be published once a week for two weeks in a newspaper of general circulation published in each county in which any of the district is situated a notice substantially in the following form:
(Name of reclamation district).
Notice is hereby given that an installment of assessment (describing it) of _____ dollars ($____), being ___ percent is payable within 30 days from (date) by all assessed landowners of said district in the County of (name of county) to the treasurer of said county. All or any part of said installment which shall remain unpaid
on the day (day fixed) will be delinquent, together with 10 percent of such installment added as penalty.
Dated (date).
(Signed)
(Signed)
Treasurer of ______ County
county treasurer reclamation district assessment installment
Section § 51422
If there is no local newspaper in the county where a district is located, any required publications should be made in a newspaper that is printed in a neighboring county.
If no newspaper is published in any county in which the district is situated, the publication shall be made in a newspaper published in an adjoining county.
newspaper publication adjoining county local availability
Section § 51423
This law states that the county treasurer is responsible for adding all the money collected from assessments to the district's bond fund. This includes money from sales, interest, penalties, and any payments made in bonds or coupons for those assessments.
The county treasurer shall credit to the bond fund of the district all money collected by him, by sale or otherwise, upon assessments against which bonds have been issued, including interest and penalties, and the amounts of purchase money paid in bonds or coupons on sales made for such assessments.
county treasurer bond fund district
Section § 51424
If you want to challenge the legality of a call for payment on an installment of an assessment under this law, you need to start your legal action within six months from when the payment is due.
No action contesting the validity of any call of an installment of an assessment pursuant to this article may be commenced, unless commenced within six months from the due date of the call.
contest assessment validity assessment installment call challenge payment call
Section § 51425
This law states that if you want to challenge the validity of a credit received or a payment made on an assessment (which is essentially a financial charge billed to a property owner), you need to start legal action within six months from when the credit or payment was made.
No action to contest the validity of any credit on, or payment of, any portion of an assessment called pursuant to this article may be commenced unless commenced within six months from the date of such credit or payment.
challenge assessment validity credit contestation deadline assessment payment dispute
