Section 13450.

13450. This chapter shall be known and may be cited as the Water Conservation and Water Quality Bond Law of 1986. (Added by Stats. 1986, Ch. 6, Sec. 1. Approved in Proposition 44 at the June 3, 1986, election.)

Section 13451.

13451. The Legislature finds and declares all of the following: (a) An abundant supply of clean water is essential to the public health, safety, and welfare. (b) An abundant supply of clean water fosters the beauty of California’s environment, the expansion of industry and agriculture, maintains fish and wildlife, and supports recreation. (c) The state’s growing population has […]

Section 13452.

13452. As used in this chapter, and for purposes of this chapter, as used in the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), the following words have the following meanings: (a) “Board” means the State Water Resources Control Board. […]

Section 13453.

13453. There is hereby created the 1986 Water Conservation and Water Quality Bond Fund in the State Treasury. There shall be established in the fund a Water Conservation and Groundwater Recharge Account for the purpose of implementing Section 13458, and an Agricultural Drainage Water Account for the purpose of implementing Section 13459. (Added by Stats. […]

Section 13454.

13454. (a) There is a Water Conservation and Water Quality Finance Committee consisting of the Governor or the Governor’s designated representative, the Controller, the Treasurer, the Director of Finance, the Director of the Department of Water Resources, and the Executive Director of the State Water Resources Control Board. (b) The Water Conservation and Water Quality Finance Committee […]

Section 13455.

13455. (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 […]

Section 13456.

13456. All bonds which have been duly sold and delivered constitute valid and legally binding general obligations of the State of California, and the full faith and credit of the State of California is pledged for the punctual payment of both principal and interest. There shall be collected annually in the same manner, and at […]

Section 13457.

13457. The State General Obligation Bond Law is adopted for the purpose of the issuance, sale, and repayment of, and other matters with respect to, the bonds authorized by this chapter. The provisions of that law are included in this chapter as though set out in full in this chapter, except that, notwithstanding any provision […]

Section 13458.

13458. (a) The sum of seventy-five million dollars ($75,000,000) of the money in the fund shall be deposited in the Water Conservation and Groundwater Recharge Account and, notwithstanding Section 13340 of the Government Code, is appropriated for expenditure in the 1986–87 fiscal year for loans to local agencies to aid in the acquisition and construction of […]

Section 13459.

13459. (a) The sum of seventy-five million dollars ($75,000,000) of the money in the fund shall be deposited in the Agricultural Drainage Water Account is appropriated for expenditure in the 1986–87 fiscal year for loans to agencies to aid in the construction of drainage water management units for the treatment, storage, or disposal of agricultural drainage […]

Section 13459.5.

13459.5. Unallocated money remaining in the Agricultural Drainage Water Account in the 1986 Water Conservation and Water Quality Bond Fund on November 6, 1996, and any unallocated money deposited into that account from the sale of any bonds that are sold after November 6, 1996, shall be transferred to the Drainage Management Subaccount, created by […]

Section 13460.

13460. Money deposited in the fund pursuant to any provision of law requiring repayments to the state for assistance financed by the proceeds of the bonds authorized by this chapter shall be available for transfer to the General Fund as a reimbursement for payment of bond principal and interest. (Added by Stats. 1986, Ch. 6, […]

Section 13461.

13461. There is hereby appropriated from the General Fund, for the purpose of this chapter, an amount equal to the sum of the following: (a) The amount necessary annually to pay the principal of, and the interest on, the bonds issued and sold pursuant to this chapter, as the principal and interest become due and payable. […]

Section 13462.

13462. For the purpose of carrying out this chapter, the Director of Finance may, by executive order, authorize the withdrawal from the General Fund of amounts not to exceed the amount of the unsold bonds which the committee has authorized to be sold for the purpose of carrying out this chapter. The amounts withdrawn shall […]

Section 13462.5.

13462.5. Notwithstanding any other provision of this bond act, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), if the Treasurer sells bonds pursuant to this bond act that include a bond counsel opinion to the effect […]

Section 13463.

13463. Upon request of the department or the board, the committee shall determine whether or not it is necessary or desirable to issue bonds authorized under this chapter. (Added by Stats. 1986, Ch. 6, Sec. 1. Approved in Proposition 44 at the June 3, 1986, election.)

Section 13464.

13464. The committee may authorize the Treasurer to sell all, or any part, of the bonds at times fixed by the Treasurer. (Added by Stats. 1986, Ch. 6, Sec. 1. Approved in Proposition 44 at the June 3, 1986, election.)

Section 13465.

13465. Notwithstanding Sections 13458 and 13459, the committee may prescribe further terms and conditions for loan contracts to authorize a deferment on payment of all or part of the principal. (Amended by Stats. 2006, Ch. 538, Sec. 678. Effective January 1, 2007. Note: This section was added by Stats. 1986, Ch. 6, and approved in […]

Section 13466.

13466. For the 1987–88 fiscal year and each year thereafter, a loan may be made by the department only upon the specific approval of the Legislature, by an act enacted after the receipt of a report filed pursuant to Section 13467. (Amended by Stats. 1992, Ch. 321, Sec. 9. Effective January 1, 1993. Note: This […]

Section 13467.

13467. Notwithstanding any other law, thirteen million five hundred thousand dollars ($13,500,000) of the unissued bonds authorized for the purposes of subdivision (a) of Section 13459 are reallocated to finance the purposes of, and shall be authorized, issued, and appropriated in accordance with, Division 26.7 (commencing with Section 79700). (Added by Stats. 2014, Ch. 188, […]