46375-46382

WATER CODE
SECTION 46375-46382




46375.  At any time after a district project is adopted, as provided
in Part 5 (commencing with Section 42200) of this division, and
before the original assessment to finance the project has become a
lien, as provided in Section 46280, the board may levy one or more
interim project assessments pursuant to this part for the purpose of
paying costs of the project.



46376.  Each interim project assessment shall be levied in an equal
amount upon each acre of land in the district. The total amount of
all interim project assessments for any district project shall not
exceed five dollars ($5) per acre.


46377.  The board may by resolution levy an interim project
assessment, if in its judgment the levy is in the best interests of
the district.


46378.  Every interim project assessment is a lien upon the land
affected until the full amount of the assessment is paid. The lien is
prior to all other liens, except state, county and municipal taxes
and assessments, or taxes levied or assessed by or under statutory
authority. The interim project assessments shall bear interest at the
rate of 7 percent per year and shall be collected in the same
manner, together with the same penalties for delinquencies, as other
assessments provided for in this division. Interest commences to run
30 days after filing of the assessment roll with the county treasurer
of an affected county.


46379.  The amount of any interim project assessment assessed
against any tract of land in the district shall be credited against
the original assessment to finance the project thereafter levied
against said tract, and the amount of said original assessment to be
collected shall be reduced accordingly.



46380.  If the amount of the interim project assessment or
assessments credited with respect to any tract of land pursuant to
Section 46379 exceeds the amount of the original assessment to
finance the project with respect to said tract, said excess shall be
credited against said interim project assessment or assessments,
which, to that extent, shall cease to be a lien with respect to said
tract. If the amount theretofore collected by the district on the
interim project assessment or assessments with respect to any tract
of land exceeds the amount of the original assessment with respect to
said tract, such excess shall be a claim against and debt of the
district, and the district shall issue a warrant in the amount of
said excess to the then holder of title to said tract.



46381.  A district may issue direct assessment warrants payable from
the proceeds of an interim project assessment pursuant to Chapter 7
(commencing with Section 45900) of Part 8 of this division, but such
warrants shall be made payable not more than five years from the date
of issuance and may be made subject to call or redemption prior to
their stated maturity date or dates at such premium, if any, as the
board may determine, and the aggregate face amount thereof shall not
exceed seventy-five percent (75%) of the amount of the interim
project assessment from which such warrants are payable, exclusive of
interest and amounts paid prior to the issuance of such warrants on
said interim project assessment.


46382.  If there are no obligations outstanding which are secured by
an interim project assessment, the board may, at any time and
without notice or hearing, order that the uncalled balance of such
interim project assessment be canceled and that the amount of the
credit against the original assessment represented by such uncalled
balance of said interim project assessment be annulled for each tract
of land in the district. In such event, notwithstanding the
provisions of Section 46379, the amount of said original assessment
to be collected from each tract of land in the district shall be
increased by the amount of the credit that was so annulled; provided,
however, said amount shall be decreased by the amount of any payment
made on the uncalled balance of said interim project assessment.
Interest due on the recomputed collectible amount of said original
assessment shall be computed as provided in Section 46671 or 47303 as
the case may be.