(a) The committee may create a debt or debts, liability or liabilities, of the State of California in the aggregate amount of one hundred fifty million dollars ($150,000,000), in the manner provided in this chapter. The debt or debts, liability or liabilities, shall be created for the purpose of providing the fund to be used for the object and work specified in this section and in Sections 13458 and 13459.

(b) The department may enter into contracts and may adopt rules and regulations necessary to carry out the purposes of Section 13458.

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Terms Used In California Water Code 13455

  • Board: means the State Water Resources Control Board. See California Water Code 13452
  • Committee: means the Water Conservation and Water Quality Finance Committee created by Section 13454. See California Water Code 13452
  • Department: means the Department of Water Resources. See California Water Code 13452
  • Fund: means the 1986 Water Conservation and Water Quality Bond Fund. See California Water Code 13452
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • State: means the State of California, unless applied to the different parts of the United States. See California Water Code 18

(c) The department may expend not more than 21/2 percent of the total amount of the bonds authorized to be issued under this chapter for the administration of Section 13458.

(d) The board may enter into contracts and may adopt rules and regulations necessary to carry out the purposes of Section 13459.

(e) The board may expend not more than 21/2 percent of the total amount of the bonds authorized to be issued under this chapter for the administration of Section 13459.

(f) The department or the board may expend funds necessary to reimburse the General Obligation Bond Expense Revolving Fund pursuant to § 16724.5 of the Government Code.

(Added by Stats. 1986, Ch. 6, Sec. 1. Approved in Proposition 44 at the June 3, 1986, election.)

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