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 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 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, but not otherwise nor in excess thereof.
Cal. Water Code § 12935
Water Resources Development Bonds
Known as the California Water Resources Development Bond Act
The act spans §§ 12930–12944 (18 sections).
Applied in 2 court decisions — leading case 60 Cal. 2d 579 - Warne v. Harkness (1963)
Most recently applied in 60 Cal. 2d 595 - California Water Resources Development Finance Committee v. Betts (December 1963)
Added by Stats. 1959, Ch. 1762.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.