I grow basil the most of all of my herbs and currently, it's in the 90's in NY and my basil's doing fine. (Has been this way for several days now.) I water every day when it's this hot. When I see the beginnings of flowers, I quickly pinch them off so the plants don't bolt. As summer progresses, I'll leave some for seeds.

It's in the low 90's here and my basil is loving it! I cut the larger flowering seed pods off daily. I am saving a few for next year and some for trading on the GW seed exchange.

@ Al
There is no such thing as BOLTING basil. If you don't harvest on time they will flower. Some varieties flower from much early on, like Thai basil. You can pinch back the flower bud cluster and let the plant concentrate on growing laterals. BTW, the flowers, buds, seeded pod are even more flavorful than the leaves.

AiliDeSpain :

Basil loves heat. Just be sure to keep it watered. It likes an evenly moist soil, not a dry soil like many other herbs.

As you've already been told, basil doesn't really bolt. You can use the leaves, etc , at any time, even when there are flowers on the plant. It doesn't develop off-flavors.

But you will get a longer use if you do what seysonn recommends.

In fact, some people feel the flavor in the leaves is actually better as the flowers just start to open. if you were harvesting the whole plant for freezing, for example, that's when you would do it.