The provisions of this division as to the procedure for calling assessments to meet payments of principal or interest of bonds, the provisions of Section 51258, and the provisions of this division relating to refunding bonds, shall apply to and inure to the benefit of bonds which were issued prior to July 27, 1917.
BondsMiscellaneous
Section § 52300
This law section states that the rules and procedures for calling assessments to pay bond principal or interest, as well as those for refunding bonds mentioned in the division, also apply to bonds that were issued before July 27, 1917. Essentially, older bonds benefit from these updated procedures.
bond assessments principal payments interest payments
Section § 52301
This California law explains what happens when bonds and interest coupons are used instead of cash for certain transactions. If you don't need the full value of the bonds or coupons to finish the deal, the county treasurer will mark the amount you used as paid. They'll also note how much the remaining attached coupons are worth, based on the interest rate of the bond and the part you didn't use.
In all cases where it is provided in this division that bonds and interest coupons may be used in lieu of cash, and the entire amount of any bonds or coupons tendered is not required to complete the particular transaction, the county treasurer shall endorse thereon, as paid, the amount thereof which is tendered for payment or cancellation, and shall endorse on the unmatured coupons attached to such bond the amount for which the unmatured coupons are redeemable, the amount to be computed on the unpaid portion of the bond at the rate of interest provided in the bond.
bonds interest coupons county treasurer
Section § 52302
If your bonds or interest coupons are lost, damaged, or destroyed and you weren’t at fault, you can get duplicates. This process follows the same rules as replacing certain warrants.
Bonds and interest coupons which are, without bad faith on the part of the holder, lost, destroyed, or so mutilated as to impair their value to the holder, may be replaced by the issuance of duplicates in the manner provided with respect to warrants in Part 9, Chapter 2, Article 3 of this division.
bonds replacement interest coupons lost bonds
