In the midst of California’s historic drought, voters approved a $7.5 billion water bond intended to ease water shortages.  The bond sets aside $2.7 billion for water storage projects. The California Water Commission has received a dozen applications asking for more than $5.7 billion. Two big reservoir projects are asking for the largest sum of money. The Sites Reservoir, which would be located about an hour north of Sacramento, wants $1.6 billion. It would draw water from the Sacramento River.