If there are outstanding bonds of the district at the time of the filing of the exclusion petition, the holders of the outstanding bonds may give their assent, in writing, to the effect that they severally consent that the land mentioned in the petition, or such portion thereof as may be excluded from the district by order of the board, may be excluded from the district. If the land or any portion thereof is thereafter excluded from the district, the land so excluded is released from the lien of such outstanding bonds.
Cal. Water Code § 48055
Bondholders’ Assent to Exclusion
Known as the California Water Storage District Law
The act spans §§ 39000 to 48401 (681 sections).
Amended by Stats. 1963, Ch. 1607.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.