This law allows the board to demand payment on any interest owed for assessments that haven't been bonded, even if they don't ask for the actual assessment or any installments to be paid at the same time.

In this section, any interest paid on an unbonded assessment is to be deposited into a special fund called the "warrant interest fund". This money is primarily used to pay interest on warrants, which are another form of debt. However, if the board requests it, the county treasurer can transfer all or part of this money to either the district's general fund or its maintenance fund.

At least 90 days before any scheduled interest payment on time warrants, the board needs to figure out how much money they need to pay that interest. They do this by looking at what is already in the 'warrant interest fund' and adding 15% more to make sure they have enough to cover any late payments. Then, they request that amount from any outstanding assessments that haven't been bond-secured.

This section explains that the same rules that apply to requesting payment for unbonded assessments or installments also apply to requests for paying interest. If a property is sold because these payments are not made, the rules for redeeming the property also apply.