SECTIONS 103340-103348 - California Statutes

PUBLIC UTILITIES CODE

SECTION 103340-103348

103340. The district may levy and collect, or cause to be
collected, property taxes, for bond redemption purposes.

103341. (a) Except as otherwise provided in subdivision (b), if
from any cause the revenues of the district are, or are expected to
be, inadequate in any year to pay the principal of, interest on, or
sinking fund payments for bonds of the district as they become due,
or to establish or maintain any reserve fund therefor, the board
shall levy for district purposes and collect upon all property in the
district taxable for county purposes a tax sufficient, together with
revenues already collected and available therefor, to pay the
interest on the bonds as they will become due and such part of the
principal thereof, including any sinking fund installments required
by any of the district's agreements with its bondholders, that will
become due before the proceeds of a tax levied at the next general
tax levy will be available for such purpose, and sufficient to
provide or to restore such reserve fund to the amount required by any
of the district's agreements with its bondholders.
(b) If the ordinance calling the election on the issuance of bonds
provides that all or any portion of the retail transaction and use
tax authorized under Article 10 (commencing with Section 103350) be
levied and used to the extent required to pay principal of and
interest on the bonds, the board, in order to provide for any sinking
fund payments required therefor and to create or maintain any
reserve fund required therefor, shall estimate the revenues of the
district which are expected to be available for such purposes and the
amount to be raised by such a tax as is required to be levied and
used for such purposes in order to provide for the payment of all
such obligations when due. The board may, in its regular annual
budget, or in a special budget which may be prepared at any time,
show the amounts needed for such purposes, estimate the revenue
available therefor, and thereafter fix the rates of and levy and
collect, or provide for the collection of, such a tax as will
provide, together with other revenues available therefor, at least
all sums necessary for such purposes insofar as such levies do not
exceed the maximum rates of such a tax stated in the ordinance
calling the bond election.
If from any cause the revenues of the district are, or are
expected to be, inadequate to pay the principal of and interest on
the bonds and sinking fund payments as they become due, and establish
or maintain any reserve fund required therefor, and if the proceeds
of such tax levied at the maximum rates authorized, together with
such revenues, are still estimated to be insufficient for such
purposes, the board shall levy and collect upon all property in the
district taxable for county purposes a tax at least sufficient, with
the revenues already collected and available therefor, together with
the anticipated proceeds of the special tax, to pay the interest on
the bonds that will become due and such part of the principal
thereof, including any sinking fund payments, that will become due
before the proceeds of a tax levied at the time of the next general
tax levy will be available for such purposes, and sufficient to
provide or to restore such reserve fund to the amount required by any
of the district's agreements with its bondholders.

103342. The board shall avail itself of the assessments made by the
assessor of the county and of the assessments made by the State
Board of Equalization for the county, and shall take such assessments
as the basis for district property taxation and have its property
taxes collected by the tax collector of the county.

103343. The county auditor shall, on or before the third Monday in
August of each year, transmit to the board a statement in writing
showing the total value of all property within the district,
ascertained from the assessments referred to in Section 103326.

103344. 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.

103345. The board shall, immediately after fixing the rate of
taxes, transmit to the county controller a statement of the rate of
taxes fixed by the board.

103346. The district's taxes so levied shall be collected at the
same time and in the same manner as county taxes. When collected, the
net amount, ascertained as provided in this article, shall be paid
to the treasurer of the district under the general requirements and
penalties provided by law for the settlement of other taxes.

103347. Whenever any real property has been sold for taxes and has
been redeemed, the money paid for redemption shall be apportioned and
paid to the district by the county controller pursuant to provisions
of the Revenue and Taxation Code.

103348. All taxes levied under this article are a lien on the
property on which they are levied. The enforcement of the collection
of such taxes shall be in the same manner and by the same means
provided by law for the enforcement of liens for county taxes, all
the provisions of law relating to the enforcement of the latter being
made a part of this article so far as applicable.