Chapter 3.10
REGISTRATION OF UNPAID WARRANTS
Sections:
3.10.010 Registration of warrants due to insufficient funds.
3.10.020 Warrants to bear interest until paid.
3.10.030 Payment of registered warrants.
3.10.040 Limitation on warrant amount.
3.10.010 Registration of warrants due to insufficient funds.
Whenever a warrant is ordered to be drawn on the town treasurer of the town of Twisp by the council thereof, and there is not sufficient funds in the hands of the town treasurer to pay said warrant, it shall be the duty of the town treasurer to register the warrant in a book to be kept for that purpose, and at the same time he shall endorse on the back of said warrant the time of the registration of the same, and a statement that said warrant is not paid for the want of funds, and the rate of interest to be paid on said warrant. (Ord. 22 § 1, 1912)
3.10.020 Warrants to bear interest until paid.
All warrants which have been registered as provided in this chapter shall bear interest from the date of registration until paid at the rate of eight percent per annum unless a different and lower rate of interest has been previously contracted to be paid, in which case the contract rate shall be paid from the time of registration, which rate shall be endorsed upon said warrant. (Ord. 22 § 2, 1912)
3.10.030 Payment of registered warrants.
The town treasurer shall pay said warrants so registered upon call of the treasurer as he shall have funds to pay the same by publication in one issue of the official newspaper of the town and he shall also give written notice by mail to the last holder of record in his office, at least 10 days before the day set for payment of said warrant or warrants so called in to be paid. All warrants shall cease to draw interest after the day set for payment in any call by the town treasurer. (Ord. 22 § 3, 1912)
3.10.040 Limitation on warrant amount.
The town clerk shall draw no warrants in greater denomination or sum than $500.00, but may draw more than one warrant for the full payment of any sum when the total amount exceeds the sum of $500.00. (Ord. 22 § 4, 1912)