California Water Code 80134 – (a) The department shall, and in any obligation entered into …
(a) The department shall, and in any obligation entered into pursuant to this division may covenant to, at least annually, and more frequently as required, establish and revise revenue requirements sufficient, together with any moneys on deposit in the fund, to provide all of the following:
(1) The amounts necessary to pay the principal of and premium, if any, and interest on all bonds as and when the same shall become due.
Terms Used In California Water Code 80134
- Bonds: means bonds, notes, or other evidences of indebtedness issued solely for the purposes of paying the cost of electric power and transmission, scheduling, and other related expenses incurred by the department on and after the effective date of this division, or to reimburse expenditures from the fund for those purposes. See California Water Code 80010
- Commission: means the Public Utilities Commission. See California Water Code 80010
- Fund: means the Department of Water Resources Electric Power Fund established by Section 80200. See California Water Code 80010
- 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.
- Power: means electric power and energy, including, but not limited to, capacity and output, or any of them. See California Water Code 80010
(2) The amounts necessary to pay for power purchased by it and to deliver it to purchasers, including the cost of electric power and transmission, scheduling, and other related expenses incurred by the department, or to make payments under any other contracts, agreements, or obligations entered into by it pursuant hereto, in the amounts and at the times the same shall become due.
(3) Reserves in such amount as may be determined by the department from time to time to be necessary or desirable.
(4) 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.
(5) 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.
(6) The administrative costs of the department incurred in administering this division.
(b) The department shall notify the commission of its revenue requirement pursuant to Section 80110.
(Added by Stats. 2001, 1st Ex. Sess., Ch. 4, Sec. 4. Effective February 1, 2001.)