This initiative allows the state to sell $11.7 billion in general obligation bonds for various water and conservation-related programs. This initiative also creates the California Water Infrastructure Commission as a new state agency for the purpose of awarding design and construction contracts for (1) Delta conveyance projects developed pursuant to the initiative and (2) specified surface storage projects funded by proceeds of the general obligation bonds authorized by the initiative and that would be part of SWP, a well as authorizing the commission to issue revenue bonds to cover its operational costs to carry out the responsibilities given to it under the initiative.