California · Water Code

WAT §11854: Insurance or indemnity bonds against loss of revenues may be in an amount equal to the probable revenues to be received from the use and operation of the project during any period of time that is dete

What this law says, in plain English

Insurance or indemnity bonds against revenue loss may be issued in amounts matching probable revenues from project operations during a specified time period.

Read the full statutory text

Insurance or indemnity bonds against loss of revenues may be in an amount equal to the probable revenues to be received from the use and operation of the project during any period of time that is determined upon and fixed by the department, and shall be paid for out of the revenue fund.

Verify at the official source: California legislative text

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