Section 12938 Of Chapter 8. Water Resources Development Bonds From California Water Code >> Division 6. >> Part 6. >> Chapter 8.
12938
. All proceeds from the sale of the bonds herein authorized
shall be deposited in the fund as provided in Section 16757 of the
Government Code and shall be available for the purpose provided in
Section 12935, but, except only as to accrued interest and any
premiums received on any sale, or sales, of the bonds, shall not be
available for transfer to the General Fund. All moneys deposited in
the fund are hereby appropriated to the department for expenditure
and allocation by the department without regard to fiscal years for
the State Water Facilities as herein defined and, to the extent
provided in this Section 12938, for additions to the State Water
Resources Development System. Of the total amount of the bonds
authorized herein, one hundred thirty million dollars ($130,000,000)
and no more shall be available exclusively for the provision of water
development facilities for local areas as set forth in subdivision
(d)(6) of Section 12934. Any money in the California Water Fund, and
any surplus revenue as described in Section 12937(b)4, available for
expenditure for the State Water Resources Development System shall be
used for the construction of the State Water Facilities in lieu of
the proceeds of bonds authorized by this chapter. The use of the
proceeds of bonds for such construction shall be decreased by an
amount equal to that hereafter expended from the California Water
Fund for the construction of State Water Facilities. To the extent
that money is expended from the California Water Fund for
construction of the State Water Facilities, proceeds from the sale of
bonds authorized pursuant to this act in an equal amount, is
appropriated and shall be expended for the construction of such
additional facilities of the State Water Resources Development System
as the department shall determine to be necessary and desirable to
meet local needs, including, but not restricted to, flood control,
and to augment the supplies of water in the Sacramento-San Joaquin
Delta from multiple purpose dams, reservoirs, aqueducts and
appurtenant works in the watersheds of the Sacramento, Eel, Trinity,
Mad, Van Duzen and Klamath Rivers for use in the State Water
Resources Development System, and the department is authorized to
construct any and all facilities for which funds are appropriated to
it for expenditure pursuant to this chapter. Such additional
facilities for local needs shall include those necessary to conserve
or develop water which is tributary to the stream upon which any of
the facilities of the State Water Resources Development System are
constructed and it shall be the duty of the department to diligently
plan such full development and submit plans and reports thereon to
the Legislature. All moneys in the California Water Fund and all
accruals thereto are hereby appropriated to the department for
expenditure and allocation by the department without regard to fiscal
years for the State Water Resources Development System as defined in
Section 12931 except that in any fiscal year the Legislature may
appropriate for any lawful purpose any money in the California Water
Fund which is unexpended at the beginning of that fiscal year and any
money accruing to that fund during the fiscal year.