Section 81490 Of Article 12. Temporary Transfer Of Water Stock From California Education Code >> Division 7. >> Title 3. >> Part 49. >> Chapter 2. >> Article 12.

. The governing body of any community college district owning shares of stock in a mutual water company, which stock is not appurtenant to any land, may rent, lease, or assign such shares, for a term not to exceed one year, if the board determines the water to which the district is entitled by ownership of such shares is not required to meet the needs of the district during the term for which it is rented, leased or assigned.