SECTIONS 81490-81492 - California Statutes

EDUCATION CODE

SECTION 81490-81492

81490. 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.

81491. The rental, lease, or assignment of the shares of stock
shall be made upon such consideration, and such terms and conditions,
as may be fixed by action of the board.

81492. No rental, lease, or assignment of shares of stock shall be
made until notice has been given by posting in at least three public
places in the district for not less than two weeks, or by publication
for a period of not less than two weeks in a newspaper published in
the district and having a general circulation there; or if there is
no such newspaper, then in a newspaper having a general circulation
in the district; or if there is no such newspaper, then in a
newspaper having a general circulation in a county in which the
district or any part thereof is situated.