There is a newer version of the California Code
2007 California Water Code Article 4. Conditions To Annexation
CA Codes (wat:75990-75991)
WATER CODESECTION 75990-75991
75990. As a condition to annexation, the petitioning district and the annexing district may agree to any financial adjustments and may provide for the payment by the petitioning district of such sums as may be mutually determined to be just and equitable as compensation for any benefits that it may receive by virtue of the annexation. 75991. Bonds of the petitioning district may be voted upon and issued in the manner provided for the incurring of bonded indebtedness of the district and may thereafter be delivered at not less than par value to constitute payment under Section 75990.
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