California Water Code

§ 31393

WAT § 31393 Effective Sep 2, 1982Div. 12 · Part 6 · Ch. 2 · Art. 2

Statute text

(a)Any time following the establishment of an improvement district pursuant to this article, the board, by a four-fifths majority vote, may exempt part or all of the territory within the improvement district from liability for payment of principal, interest, and any other amounts which become due on account of any outstanding or then authorized but thereafter issued bonds of the county water district other than bonds issued for the improvement district. The board may adopt a resolution pursuant to this section only if it first makes all of the following findings:

(1)Bonds for the improvement district have received the voter approval required by this chapter and part or all of the improvement district bonds have been issued to provide benefit to the improvement district.

(2)The territory for which exemption is proposed was annexed to the district after the bonds of the county water district were authorized and prior to formation of the improvement district.

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Legislative history

Added by Stats. 1982, Ch. 693, Sec. 1. Effective September 2, 1982.