SECTIONS 80200 - California Statutes

WATER CODE

SECTION 80200

80200. (a) There is hereby established in the State Treasury the
Department of Water Resources Electric Power Fund. Notwithstanding
Section 13340 of the Government Code, all moneys in the fund are
continuously appropriated, without regard to fiscal year, to the
department, and shall be available for the purposes of this division.
It is the intent of the Legislature that this fund be a continuation
of the fund created in Chapter 3 of the Statutes of 2001 (SB 7 of
the First 2001-02 Extraordinary Session).
(b) All revenues payable to the department under this division
shall be deposited in the fund. Notwithstanding any other provision
of law, interest accruing on money in the fund shall remain in the
fund and shall be used for the purposes of this division. Payments
from the fund may be made only for the purposes authorized by this
division, including, but not limited to, payments for any of the
following:
(1) The cost of electric power and transmission, scheduling, and
other related expenses incurred by the department.
(2) The pooled money investment rate on funds advanced for
electric power purchases prior to the receipt of payment for those
purchases by the purchasing entity.
(3) Payment of any bonds or other contractual obligations
authorized by this division.
(4) Repayment to the General Fund of appropriations made to the
fund pursuant hereto or hereafter for purposes of this division,
appropriations made to the Department of Water Resources Electric
Power Fund, and General Fund moneys expended by the department
pursuant to the Governor's Emergency Proclamation dated January 17,
2001. That repayment shall be made as soon as practicable.
(c) Except as provided in subdivision (b) of Section 5 of the
statute adding this section, the administrative costs of the
department incurred in administering this division shall be provided
in the annual Budget Act.
(d) Obligations authorized by this division shall be payable
solely from the fund. Neither the full faith and credit nor the
taxing power of the state are or may be pledged for any payment under
any obligation authorized by this division.
(e) While any obligations of the department incurred under this
division remain outstanding and not fully performed or discharged,
the rights, powers, duties, and existence of the department and the
commission shall not be diminished or impaired in any manner that
will affect adversely the interests and rights of the holders of or
parties to such obligations. The department may include this pledge
and undertaking of the state in the department's obligations.