Section 103344 Of Article 9. Taxation For Bond Redemption Purposes From California Public Utilities Code >> Division 10. >> Part 15. >> Chapter 5. >> Article 9.

. The board shall, on or before the first day of September, fix the rate of taxes, designating the number of cents upon each one hundred dollars ($100), and use as a basis the value of property transmitted to the board by the county auditor, which rate of taxation shall be sufficient to raise the amount previously fixed by the board.