Section 71975 Of Article 2. Sale Of Bonds And Use Of Proceeds From California Water Code >> Division 20. >> Part 7. >> Chapter 6. >> Article 2.
71975
. Notwithstanding any other provision of law, within the
Rainbow Municipal Water District, if bonds have been authorized or
issued pursuant to Chapter 4 (commencing with Section 71920) of this
part, and thereafter, due to a change in conditions or circumstances,
the board determines that the improvement, generally described in
the resolution of intention No. 438, adopted October 27, 1969,
pursuant to Section 71924, should be significantly modified, the
board by resolution may so modify such improvement and may issue
authorized but unissued bonds or, to the extent the rights of
bondholders are not impaired, expend the proceeds of bonds issued for
the purpose of paying the cost of the improvement as modified,
without any further election or without taking proceedings pursuant
to Chapter 4 (commencing with Section 71920) of this part, provided
that such modification shall not change the purpose for which the
sale of bonds was originally authorized, and only after notice and
hearing in the same manner as provided in Article 2 (commencing with
Section 71880) of Chapter 3 of this part and Article 6 (commencing
with Section 53520) of Chapter 3, Part 1, Division 2, Title 5 of the
Government Code, and provided that at the conclusion of the hearing
the board, four-fifths of the members concurring, shall by resolution
determine that the territory within the improvement district will be
benefited by the improvement as modified. Notwithstanding the
foregoing, the board, by resolution, may make minor modifications in
the plans for the acquisition and construction of improvements and
the determination made in such resolution shall be final and
conclusive.