HomeMy WebLinkAbout1967-12-05; City Council; 1105; Real property sale documentary stamp taxLL
ORDINANCE NO, 1105
SECTION 1: This ordinance shall be known as the "Real
ty Transfer Ordinance of the City of Carlsbad".
t to the authority contained in Part 6.7
ncing with Section 11901) of Division 2 of the Revenue
ode of the State of California,
SECTION 2: There is hereby imposed on each deed, instrument
or writing by which any lands, t
within the City of Carlsbad shal
fer
or purchasers, or
direction, when th
erty conveyed (exc
remaining thereon
dollars ($loo), a t
cents ($0,275) for
part thereof,
ements, Or Other realty
be granted, assigned, trans-
or otherwise conveyed to, or 'vested in, the purchaser
On Or persons, his Or their
ion or value of the interest or prop-
sale) exceeds one hundred
twenty-seven and one-half
dollars ($500) or fractional
SECTION 3: Any tax imposed pursuant to Section 2 hereof
any person who mak s signs or issues any
document or instrument subject to the tax, or for whose benef
the same is made, signed or issued.
SECTlON 4: Any tax imposed pursuant to this ordinanc
shall not app Y instrument i riting given to Secure a
The United States any agency or instrumen-
any state or territory, or politi
District of Columbia shall not be
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x imposed pursuant to this ordinance with respe to any deed, in.
strument, or titing to which it is a pa tax may be
collected by assessment from any other party liable therefor.
SECTION 6: Any tax imposed pursuant to this ordinance shall
not apply to the making, delivering or filing of conveyances to
make effective any plan of reorganization or adjustment --
(a) Confirmed under the Federal Bankruptcy Act, as amended;
(b) Approved in an equity receivership proceeding in a court
a railroad corporation, as defined in subdivision (m) of
Section 205 of Title 11 of e United States Code, as amended;
Approved in an equity receivership proceeding in
involving a corporation, as defined in subdivision (3) of
506 of Title 11 of the U ted States Code, as amended; or
(d) Whereby a mere hange in identity, form or place of or-
ganization is effected,
ions (a) to (d), inclusive, of this section shall
only apply if the making, delivery or filing of instruments of
transfer or conveyances occurs within five years from the date of
such confirmation, approval or change,
SECTION 7, Any tax imposed pursuant to this ordinance shall 1
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 nade recites that such convey
ance 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
ship, 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) is con-
sidered a continuing partnership within the meaning of Section 708
of the Internal Revenue Code of 1954, and
(2) Such continuing partnership continues to hold the
ealty concerned,
(b) If there is a termination of any partnership within the
leaning of Section 708 of the Internal Revenue Code of 19
mrposes of this ordinance, such partnership shall be tre
laving executed an instrument wher
iarket value (exclusive of the val
-emaining thereon),
If termination,
Y there was conveyed, for
of any lien Or en
1 realty held by such partnershi
SECTION 9,: The County Recorde
tn conformity with the provisions of
levenue and Taxation Code and the pr
zdopted pursuant ther
7 of Division 2 of the
of any county ordinanct
SECTION 10: Claims for r ursuant to
this ordinance shall be governed by the provisions of Chapter 5
(commencing with Section 5096) of Part 9 of Division 1 of the Reve-
nue and Taxa ion Code of the State of California.
SECTION 11: This ordinance shall become operative upon the
ate of any ordinance adopted by the County of San Diego,
pursuant to Part 6.7 (commencing with Seetion 1 1) of Division
of the Revenue and Taxation Code of the State fornia, Or
date of this ordinance, whichev the later.
Upon its adoption the City Clerk shall file two
ordinance with the County Recorder of San niego Coun
This ordinance, inasmuch as it provides for a ta
1 and current expenses of the city, shall take
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effect immediately,
SECTION 14: The City Clerk of th ty of Carlsbad is here-
by directed to cause this ordinance to be published once in the
Carlsbad Journal, a newspaper
in said City oE Carlsbad,
ished and of general circulation
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council of City of Carlsbad held on the 5th day of December
__uI
1967, by the following vote, to wit:
AYES: Councilmen Worthing, Neiswender, Atkinson, Dunne and
NOES: None Jardine
ABSENT: None
ATTEST :