Section 24767 Of Article 2. Modification Of Bonds And Warrants From California Water Code >> Division 11. >> Part 8. >> Chapter 5. >> Article 2.

. An agreement or plan may not be carried out pursuant to this article until a proposal therefor is approved by the voters, and a plan may not be carried out until it is either:
  (a) Agreed to in writing by all of the holders of bonds and warrants affected.
  (b) Confirmed in accordance with federal bankruptcy law.