Water Code section 50901

If a district is in debt it has no power to impair or destroy any of its indebtedness without the consent of the creditors, but it may make any arrangement with the creditors for the surrender of such indebtedness at less than par, and may levy an assessment on the lands in the district for the payment thereof.

Source: Section 50901, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=WAT§ionNum=50901. (updated Jan. 1, 1951; accessed Jun. 30, 2025).

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Up to date

Verified:
Jun. 30, 2025

§ 50901's source at ca.gov

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Location: https://california.public.law/codes/water_code_section_50901

Original Source: Section 50901, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=WAT§ionNum=50901. (last accessed May 12, 2025).