Section § 51570

Explanation

If a landowner wants to reduce or eliminate the financial claim (lien) on their property from an assessment that has bonds tied to it, they can give these bonds to the county treasurer to cancel them. The treasurer will then apply the bonds' value, including their interest, to reduce the amount owed on the assessment.

Any landowner who desires to lessen or remove the lien upon his land of any assessment on which bonds have been issued may deliver to the county treasurer for cancellation any bonds payable out of the assessment, and the treasurer shall credit against the assessment on his land the principal and accrued interest of the bonds.