When a bond, note, interest coupon, or other evidence of indebtedness payable from funds in the custody of the chief financial officer of the district is presented to the chief financial officer for payment and is not paid for want of funds, the

chief financial officer

shall endorse upon it “Not paid for want of funds,” the date of presentation, and a serial number indicating the order of presentation, and shall sign or stamp their name on it.

Upon receipt of the first money in the treasury applicable to their payment, the chief financial officer shall set apart the amount necessary to pay the past due bonds, notes, coupons, or other evidences of

indebtedness that have been registered for want of funds. The chief financial officer shall give notice by registered mail to the owner or holder of the registered bonds, notes, coupons, and other evidences of indebtedness, at the address last filed, stating that the chief financial officer is ready to pay for them. The bonds, notes, coupons, and other evidences of indebtedness shall be paid from

that money, in the order of their registration.

If the registered bonds, notes, coupons, and other evidences of indebtedness are not presented for payment within 30 days from mailing of the notice, the chief financial officer shall apply the fund set aside to the payment of the unpaid registered bonds, notes, coupons, and other evidences of indebtedness next in order, until all registered bonds, notes, coupons, and other evidences of indebtedness have been called.