California § 80830 - There is hereby established in the State Treasury the Eligible Energy Resource Ce

§ 80830. There is hereby established in the State Treasury the Eligible Energy Resource Ce

(a) There is hereby established in the State Treasury the Eligible Energy Resource Central Procurement Fund. Notwithstanding Section 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. (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.