You are the **legal person** to whom the **county** owes a **payable**. You receive **CC** at once. You may spend it in the **circuit**, or hold toward **T**.
What you do
- Receive **CC₀** when the **county** honors your **payable**.
- Spend **CC** among **participants**, or hold it.
- At **T**, present **CC** up to remaining **face** **F** for **USD**. That right is personal to you.
**CC** you spend remains in the **circuit** for spend or **tax tender**. Amounts you do not present at **T** remain in the **circuit**; those are **maximum tax dollars saved**. That **CC** is subject to **demurrage** unless used to pay **property tax**.
Worked example
Gravel **payable** in your name: **F** = 1,000 **USD**, **demurrage** $r$ = 4.16%/year (1-year Treasury), term 90 days, **CC₀** ≈ 1,010.30, 500 already converted. Send **CC** with Send CC. When **T** is open, Conversion at T presents remaining **CC** up to **face** for **USD**.
Open the demonstrationUsername creditor · password cc-demo
What you do not do
You do not convert other people’s **payables**. You do not convert above remaining **face** **F**. **Tax tender** is the **property owner**’s act.