BILL NUMBER: SB 496	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Fuller

                        FEBRUARY 17, 2011

   An act to amend Section 12935 of the Water Code, relating to water
resources.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 496, as introduced, Fuller. State Water Resources Development
System.
   The Department of Water Resources operates the State Water
Resources Development System, commonly referred to as the State Water
Project, in accordance with the California Water Resources
Development Bond Act.
   This bill would make technical, nonsubstantive changes to a
provision that authorizes the issuance of bond funds in the amount of
$1,750,000,000 for the purposes of that bond act.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 12935 of the Water Code is amended to read:
   12935.  For the purpose of creating a fund,  herein
 designated the California Water Resources Development Bond
Fund, to provide for the acquisition, construction and completion of
the State Water Facilities  herein  specified 
in this chapter  and, to the extent provided in Section 12938,
for additions to the State Water Resources Development System, the
committee shall be and is hereby authorized and empowered to create a
debt or debts, liability or liabilities of the  State of
California   state  in the aggregate principal
amount of one billion seven hundred fifty million dollars
($1,750,000,000) in the manner and to the extent  herein
provided,   provided in this chapter,  but not
otherwise nor in excess  thereof.   of that
amount.