2007 California Water Code Article 2. The California Water Fund

CA Codes (wat:12910-12915)

12910.  The California Water Fund is created as a special fund in
the State Treasury, the moneys, securities, and increment of which
shall be held by the State Treasurer and shall be expended upon
projects when appropriated by the Legislature.




12911.  The Investment Fund in the State Treasury is hereby
abolished.  Upon the effective date of this chapter, the Controller
shall transfer all resources of the Investment Fund to the California
Water Fund.  All references in any law to the Investment Fund shall
hereafter be deemed to refer to the California Water Fund.




12912.  There shall be deposited in the California Water Fund:
   (a) All resources of the Investment Fund.
   (b) All receipts and revenues of any type and nature derived from
any project constructed, operated, or maintained in whole or in part
from the fund, except such receipts and revenues which are necessary
to pay the costs of operation, maintenance, replacement, and debt
service in connection with the project, and all receipts and revenues
of any type or nature derived by the state from joint-use projects
between the state and the federal government, except such receipts
and revenues which are necessary to pay the costs of operation,
maintenance, replacement and debt service, in connection with any
such project.
   (c) Such moneys in other funds which the Legislature may hereafter
direct the Controller to transfer to the fund, and any money
required to be deposited in the California Water Fund pursuant to the
provisions of subdivision (b) of Section 6217 of the Public
Resources Code.
   (d) All revenues received by the state pursuant to the provisions
of Chapter 29, Statutes of 1956, First Extraordinary Session.
   (e) All money from any state bond issue authorized and sold for
the purposes of this chapter.
   (f) All other funds made available solely for the purposes of this
chapter by gift or any other means.
   (g) All income derived from the investment of moneys that are in
the fund.


12912.5.  Of the amounts deposited in the California Water Fund
pursuant to subdivision (b) of Section 6217 of the Public Resources
Code, five million dollars (,000,000) shall be deposited annually
in a special account in the California Water Fund for appropriation
by the Legislature to the Department of Water Resources for purposes
of mitigation of adverse effects to water quality, fisheries, or
wildlife  in (1) the Sacramento-San Joaquin Delta, Suisun Marsh, and
San Francisco Bay caused by historic upstream depletions and
diversions, as nonreimbursable costs under Section 11912 and for
other nonreimbursable costs, and (2) the Salton Sea and its
tributaries.



12913.  The Director of Finance shall cause all moneys in the fund
which are in excess of current requirements to be invested and
reinvested from time to time in securities described in Section 16430
of the Government Code, and such securities may be sold or exchanged
if in his opinion such sale or exchange is in the best interests of
the State in effectuating the purposes of this chapter.  All income
derived from such investment, reinvestment, sale, or exchange shall
be credited to the fund.



12914.  All of the assets in the fund shall be retained in the State
Treasury in the fund and shall not be expended except upon
appropriations made by the Legislature.



12915.  To the extent the provisions of this chapter are
inconsistent or in conflict with any of those provisions of Part 3
(commencing at Section 11100) of Division 6, the provisions of this
chapter shall prevail.