Section 33243 Of Chapter 3. Operation Of New District From California Water Code >> Division 12. >> Part 9.1. >> Chapter 3.
33243
. All outstanding bonded and other indebtednesses of the
dissolved and merged districts are hereby assumed by the Costa Mesa
County Water District, and all bondholders and creditors of such
districts may enforce any rights they may have against the Costa Mesa
County Water District in like manner as if the districts had not
been dissolved and merged into the Costa Mesa County Water District.
All property subject to taxation or assessment for the payment of the
principal of or interest on any such outstanding bonded and other
indebtedness shall, until such principal and interest is paid or
provision is made for the payment thereof, continue to be subject to
such taxation or assessment as fully as though said districts had not
been merged or dissolved, and all provisions of law which could have
been used against the legislative bodies and officers of the merged
or dissolved districts to compel the levy and collection of such
taxes or assessments had the merger or dissolution not occurred can
be used against the board of directors and officers of the Costa Mesa
County Water District. As the City of Costa Mesa has no present
bonded indebtedness, the new Costa Mesa County Water District is not
assuming any present or future indebtedness of the City of Costa
Mesa.