Article 4. Exchange of California Water Code >> Division 15. >> Part 8. >> Chapter 2. >> Article 4.

Any district which has issued bonds of different denominations, may, by order entered in its minutes, upon request of holders thereof, and upon the deposit of the outstanding bonds with the board, issue to the holders of the deposited bonds, bonds in the same form but in different denominations having the same aggregate face value and maturity.

Exchange bonds shall be executed by all persons required by law to execute the bonds for which the exchange is made.

Bonds deposited for exchange shall be canceled by the county treasurer and the board.