Annually on or before August 1st, the commission shall furnish to the board of supervisors and auditor of the county an estimate in writing of the amount of money necessary to be raised by taxation for the purposes of the district for the ensuing fiscal year. The amount shall be sufficient to pay:
(a) The interest on all outstanding bonds of the district which will become due during the ensuing fiscal year.
(b) The principal of all outstanding bonds of the district which will mature during the ensuing fiscal year.
(c) The amount necessary to pay the contract price of any contract which was to be paid by a tax levied on the real property within the district as herein provided.
(d) The estimated cost of repairs and maintenance of the project and the running expenses of the district.
(e) The amount necessary for preliminary engineering and other expenses incurred prior to the issuance and sale of bonds.
(f) In the first tax levy, the amount, if any, required to be raised to pay principal of or interest on any notes issued by the district as authorized herein.
(Amended by Stats. 1970, Ch. 17.)