Payment of all, or any portion, of any assessment levied to pay the principal or interest due, or to become due, on the bonds of any district formed under this Procedure Code may be made with matured bonds or matured coupons of such district. Such bonds and coupons shall be accepted and treated as cash, and when so received shall be cancelled; and the interest and sinking fund of such district shall be credited with the face value thereof.
(Added by Ord. 225-81, App. 5/5/81)