This document summarizes the key points discussed at an Imported Water Committee meeting on February 23, 2012. The committee supported adopting Delta Policy Principles focused on co-equal goals of water reliability and environmental restoration. They advocated requiring a viable financing plan and firm financial commitments from water contractors to pay for Delta solutions. The committee also supported right-sizing conveyance facilities to match demand forecasts and financial commitments, and ensuring the State Water Project remains a publicly owned resource.