If there is not sufficient money in any fund to pay the claims made against the fund, the claim shall be registered in a book kept by the treasurer, showing its number, when presented, date, amount, name of payee, and on what account allowed and out of what fund payable. When so registered, the claim shall be returned to the party presenting it with the endorsement of the word “Registered” dated and signed by the treasurer. All registered claims are payable in the order of their registration.

This section does not prevent the payment by the treasurer of bonds of the district or of any city or county, and interest coupons thereof, in accordance with the Constitution of this State and the provisions of this part.