Section 849.6 Of Article 5.7. Monterey Peninsula Water Supply Securitization Act From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 4. >> Article 5.7.
849.6
. A successor to the qualified water utility, whether pursuant
to bankruptcy, reorganization, or other insolvency proceeding, or
pursuant to merger, sale, or transfer, by operation of law, or
otherwise, shall perform and satisfy all obligations of the
qualifying water utility pursuant to this article in the same manner
and to the same extent as the qualified water utility, including, but
not limited to, collecting and paying to the holders of water rate
relief bonds or any financing entities or their pledgees revenues
arising with respect to the water supply property sold to the
applicable financing entity or pledged to secure water rate relief
bonds.