(a) There is hereby established in the State Treasury the Eligible Energy Resource Central Procurement Fund. Notwithstanding § 13340 of the Government Code, all moneys in the fund are continuously appropriated, without regard to fiscal year, to the department for purposes of this division.

(b) All revenues payable to the department pursuant to this division, including proceeds of bonds issued pursuant to Chapter 5 (commencing with Section 80840), shall be deposited into the fund. Notwithstanding any other law, interest accruing on the moneys in the fund shall be deposited into the fund and shall be used for purposes of this division.

Terms Used In California Water Code 80830

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • State: means the State of California, unless applied to the different parts of the United States. See California Water Code 18

(c) The fund, and the moneys in the fund, are separate and distinct from any other fund and moneys administered by the department.

(d) Payments from the fund may be made only for the following purposes:

(1) Payment of any bonds or other contractual obligations authorized by this division.

(2) The cost of energy and transmission, scheduling, and other related expenses incurred by the department.

(3) The expenses incurred by the department in administering this division, including costs of personnel, contracts, or arrangements to carry out the department’s duties and responsibilities pursuant to this division.

(e) Obligations authorized pursuant to this division shall be payable solely from the fund. Neither the full faith and credit nor the taxing power of the state are, or may be, pledged for any payment under any obligation authorized by this division.

(f) While any obligations of the department incurred pursuant to this division remain outstanding and not fully performed or discharged, the rights, powers, duties, and existence of the department shall not be diminished or impaired in any manner that will adversely affect the interests and rights of the holders of, or parties to, those obligations. The department may include this pledge and undertaking of the state in the department’s obligations.

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

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