(1) A “warrant” is an order drawn by the board of county commissioners directing the county treasurer to pay a specified amount to a person named or to the bearer. It may be payable on demand or it may be issued as a short-term obligation payable. Determination of warrant type in each county shall be set by the board of county commissioners after consultation with the county treasurer and county auditor.
(2) A “registered warrant” is a warrant drawn on a fund which has insufficient funds to pay it and has been identified and logged by the county treasurer and county auditor and thereafter paid in the order of its presentation.