California Water Code

§ 80842

WAT § 80842 Effective Oct 7, 2023Div. 29.5 · Ch. 5

Statute text

(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 deposited into 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.

(2)The amounts necessary to pay for electricity purchased by it and to deliver it to purchasers, including the cost of electricity, 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 to this division, in the amounts and at the times the same shall become due.

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Legislative history

Added by Stats. 2023, Ch. 367, Sec. 15. (AB 1373) Effective October 7, 2023.