SECTIONS 11815-11823 - California Statutes

WATER CODE

SECTION 11815-11823

11815. There is in the State Treasury the Central Valley Water
Project Revenue Fund which is continued in existence.

11816. All revenues received from the operation of the project
shall be paid over by the department at least monthly to the State
Treasurer.

11817. The State Treasurer shall deposit the revenues to the credit
of the revenue fund as demand deposits in a depositary authorized by
law to receive deposits of State funds.

11818. The revenue fund shall at all times be kept segregated and
set apart from all other funds.

11819. All appropriations and contributions received from the
United States, the State, any State agency, any political
subdivision, or from any other source for the purpose of maintaining
or operating the project, or borrowed therefrom for such purposes,
shall be received by the State Treasurer and deposited in and
credited to the revenue fund.

11820. After the expiration of one year after the completion of the
project, all costs and expenses of the department, including interst
due and payable, incurred in performing the duties prescribed in
this part shall be paid out of the revenue fund.

11821. The money in the revenue fund is hereby appropriated for the
payment of costs and expenses, for the maintenance and operation of
the project, for making necessary replacements thereto, and for the
payment when due of the principal and interest on all indebtedness
incurred under the provisions of this part.

11822. The money remaining in the revenue fund after providing the
amount required for interest and redemption of bonds shall be devoted
to the payment of the costs of operation and maintenance of the
project including necessary replacements thereto to the extent
necessary.

11823. Notwithstanding anything contained in this part, the
department may provide in the proceedings authorizing the issuance of
bonds that revenues received during the period of construction and
for a period of one year after completion thereof may be used for the
payment during such periods of costs and expenses of the department,
including interest due and payable, incurred in performing the
duties prescribed in this part.