The 1.1.X branch has been created, so that needs to be past tense.

git-svn-id: http://code.djangoproject.com/svn/django/trunk@11588 bcc190cf-cafb-0310-a4f2-bffc1f526a37

docs/internals/svn.txt

@@ -199,7 +199,7 @@ will be created there approximately one month after each new Django
 release. For example, shortly after the release of Django 1.0, the
 branch ``django/branches/releases/1.0.X`` was created to receive bug
 fixes, and shortly after the release of Django 1.1 the branch
-``django/branches/releases/1.1.X`` will be created.
+``django/branches/releases/1.1.X`` was created.
 
 Prior to the Django 1.0 release, these branches were maintaind within
 the top-level ``django/branches`` directory, and so the following