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HomeMy WebLinkAboutCC Ord 735 1967-11-27 " V'.c..:.. u" .L --.- 1. Ii, 01~16!~!,t;L ::::,'::','ICI'~L C')';:>'( r , NOT TC) L.. T/ :~'-! \ , TI-IG CITY C;'f.:;',,, ~ ,..,;,>K'" . 1 -..AM....OJUHNANCE OF T'tiE CITY OF SEAL BEACH . - IMPOSING A DOCUMENTARY, STAMP. TAX ON THE SALE OF REAL PROPERTY. ORDINANCE NO. ~JS- I: , , The City Council of the City of Seal,Beach does ordain as follows: -Section 1. This ordinance shall be known as the "Real Property Transfer Tax Ordinance of the City of Seal Beach". It is adopted pursuant to the authority contained in Part 6.7 (commeri~ing with Section 11901) of Division 2 of the Revenue and Taxation Code of the State of California. Section .2. There is hereby imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the City of Seal Beach shall be granted, assigned, transferred or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or persons, by his or their ~irection, when the consideration or value of the interest or .property conveyed (exclusive of the value of any lien or encumbrances remaining thereon at the time of sale) exceeds one hundred doliliars ($100), a tax at the rate of twenty-seven and one-half cents ($0.275) for each five hundred dollars ($500) or fractional partthereo~. 1 Section 3. Any tax imposed pursuant .to Section 2 hereof shall be paid by any person who makes, signs or issues any document or instrument subject to the tax, or, for whose use or benefit the same is made, signed or 'issued. . Section 4.' Any tax imposed pursuant to this ordinance shall not apply to any instrument in writing given to secure a 'debt.. Section 5. The United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, or the District of Columbia shall not be liable for any tax imposed pursuant to this ordinance. with respect to any deed, instrument, or writing to which it is a party, but the tax may be collected by assessment from any other party ,liable thereof. SectiOn 6. Any tax imposed pursuant to this ordinance shall not apply to the,~aking, delivering or: filing of conveyances to make effective any F' -~,. of reorganization or .adjustment. . :"j _OJ. . (a) Confirmed under the Federal ,Bankr.uptcy Act, as amended; I (b) Approved ,in an equity receivers9ip proceeding in a court involving a railroad corporation, as defined in subdivision (m) of Section' 205 of Title 11 of the United States 'Code, as amended; ," , , . . " (c) Approved in an equity receivership proc.eeding in a court involving a corporation, as defined in subdivision (3) o,f Section 506 of Title 11 of the United States Code, as amended; or , , 'd . (d) ~~ereby-'a mere change in indentity, form or place of orggnization is effected. I I I n<. , , ' Ordinanc~ Number .' '. " Subdivtsions (a) to (d), inclusive, of this, section shall ,only apply if the making, delivery of filing of instruments of transfer , or conveyances occurs within five years from the date of such con- firmation, approval or change. Section? Any tax imposed pursuant to this ordinance shall not apply to the making ,or delivery of conveyances', to make effective any order of the .securities and Exchange Commission, 'as defined in subdivision (a) of ,Section 1083 of the Internal Revenue Code of 1954; but only ,if--' (a) The order of the ,Securities and Exchange Commission in obedience to which such conveyance is made recites that such conveyance is necessary or appropriate to effectuate the provisions of,Section 79k of Title 15 of the United States Code; relating to the Public Utility Holding Company Act of 1935; (b) Such order specifies the property which is ordered to be conveyed; (c) , Such conveyance is made in obedience to such order. Section 8. (a) In the case of any realty held by a partnership, no levy shall be imposed pursuant to this ordinance by reason of any transfer of an interest in a partnership or otherwise, if-- (1) Such partnership (or another partnership)8iscconsidered a ,continuing partnership wi~hin the meaning of ,Section '708 of the Internal Revenue Code of 1954; and (2) Such continuing partnership continues to ,hold the ,realty concerned. (b) If there is a termination of any partnership within the meaning of Section 708 of the Internal Revenue Code of 1954, for purposes of this ordinance, such partnership shall be treated as having executed an instrument whereby' there wa's conveyed, for fair market value~(exclusive of the value of any lien or 'encumbrance remaining thereon), all realty held by such partnership at the time of such termination.' (c) Not more ,than one tax shall be imposed pursuant to this : ordinance by reason of a termination described in suBdivision (b), and any transfer pursuant the~eto, with respect to the realty held by such partnership at the time of such termination. Section 9. The County Recorder 'Shall administer this ordinance ,in conformity with the provisions of Part 6.7 of Division 2 of the Revenue and Taxation Cbde and the provisions of any county ordinance adopted pursuant thereto. Section 10. Claims for refund of taxes imposed pursuant to this ordinance shall be governed by the provisions of Chapter 5 (com- mencing with Section 5096) of Part 9 of Div~sion 1 of the Revenue and Taxation Code of the State of California. -2- I, I I , .. ,-. "0. Ordinance 'Number " .,' . <;, '.:. '. ~ Section 11'. This ordinance shall become o.perative upon the operative date of any ordinance adopted by the County of Orange, ,pursuant to Part 6.7 (commencing with Section 11901) of 2 of the Revenue and'Taxation Code of the State of California',' or upon the effective date of , this ordinance, whichever is the later. Section 12. The City Clerk shall certify to the passage and adoption of this ordinance and shall file two copies of this ordinance with the County Recorder of Orange County, and shall cause the same to be posted as required by law. " Section 13. Severability. If any section, subsection, sentence, clause, phrase, or portion of this ordinance, or the application thereof to 'any person, firm, corporation, or circumstance is for any 'reason held to be invalid or unconstitutional by the decision of any , court of competent jurisdiction, such decision shall ,not affect the validity of the remaining portions of this ordinance. The Council of the City of Seal Beach hereby declares that it would have,adopted ,this ordinance and each section, subsection, sentence, clause, , phrase, or portion thereof, irrespective of the fact that anyone or more sections, subsections, sentence, clause, phrase, or portion be declared invalid or unconstitutional. ( ATTEST: /) , ' _/ '(':~~'~/A'A , , tt;" ty Cl rk (D~puty) ) ) SS ) STATE OF CALIFORNIA COUNTY'OF,ORANGE CITY OF SEAL BEACH '; I, Jerdys'Tofte, Weir, Deputy City Clerk of the City of ,Seal Beach, hereby certify that the foregoing ordinance was'passed, approved, and adopted by the City Council of the City of Seal Beach at a meeting thereof he ld on the 011 day of ';7)~ / ,~'7';; 7 by the following vote: ' , AYES: Councilmen th~d?uJ-<rx.-, ~i ~ / ~ NOES: Councilmen ~ ' '.. ABSENT,: Councilmen, - ~-.0 , , " " , , 1'(' t, ,.