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Ord 03ORDINANCE NO. 3 AN ORDINANCE OF THE CITY OF POWAY, CALIFORNIA IMPOSING A REAL PROPERTY TRANSFER TAX ON THE SALE OF REAL PROPERTY IN THE CITY OF POWAY~ CALIFORNIA DECLARING THE URGENCY THEREOF THE CITY COUNCIL OF THE CITY OF POWAY, CALIFORNIA, DOES ORDAIN AS FOLLOWS: UNIFORM REAL PROPERTY TRANSFER TAX Section 1. Title. This Ordinance shall be known as the "Uniform Real Property Transfer Tax Ordinance of the City of Poway." It is adopted pursuant to the authority contained in Part 6.7 (commencing with Section 11901) of Division 2 of the Revenue and Taxation Code of the State of California. Section 2. Imposition of Tax. There is hereby imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the City of Poway 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 direction, 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 dollars ($100), a tax at the rate of twenty seven and one-half cents ($0.275) for each five hundred dollars ($500) or fractional part thereof. Section 3. Payment. Any tax imposed pursuant to Section 6201 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. Exemption--Security Any tax imposed pursuant to this Chapter shall not apply to any instrument in writing given to secure a debt. Section 5. Exemption--Governmental A~encies. 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 Chapter with respect to any deed, instrument, or writing to which it is a party, and when it is acquiring title, but the tax may be collected by assessment from any other party liable therefor. Section 6. Exemption--Miscellaneous Proceedings. Any tax imposed pursuant to this Chapter 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: ORDINANCE NO. 3 (b) Approved in an equity receivership 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 proceeding in a court involving a corporation, as defined in Subdivision (3) of Section 506 of Title 11 of the United States Code, as amended; or (d) Whereby a mere change in identify, form or place of organiza- tion is effected. Subdivisions (a) to (d), inclusive, of this Section shall only apply if the making, delivery or filing of instruments of transfer or conveyance occurs within five years from the date of such confirmation, approval or change. Section 7. Exemption--Securities and Exchange Commission. Any tax imposed pursuant to this Chapter 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. Partnerships. (a) In the case of any realty held by a partnership, no levy shall be imposed pursuant to this Chapter by reason of any transfer of an interest in a partnership or otherwise, if (i) Such partnerhip (or another partnership) is considered a continuing partnership within the meaning of Section 708 of the Internal Revenue Code of 1954; and concerned. (2) Such continuing partnership continues to hold the realty (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 Chapter, such partnership shall be treated as having executed an instrument whereby there was conveyed, for fair market value (exclusive of the value of any lien or encumbrance remaining thereon), all realty held by such partnerhsip at the time of such termination. -2- ORDINANCE NO. 3 (e) Not more than one tax shall be imposed pursuant to this Chapter by reason of a termination described in Subdivision (b), and any transfer pursuant thereto, with respect to the realty held by such partner- ship at the time of such termination. Section 9. ~Administration~b¥ County'Recorder~ The County Recorder shall administer this Chapter in conformity with the provisions of Part 6.7 of Division 2 of the Revenue and Taxation Code and the provisions of any county ordinance adopted pursuant thereto. Section 10. Claims'f°rRefUnd. Claims for refund of taxes imposed pursuant to this Chapter shall be governed by the provisions of Chapter 5 (commencing with Section 5096) of Part 9 of Division 1 of the Revenue and Taxation Code of the State of California. Sectionll. This ordinance shall become operative upon the operative date of any ordinance adopted by the County of San Diego, pursuant to Part 6.7 (commencing with Section 11901) of Division 2 of the Revenue and Tax- ation Code of the State of California, or upon the effective date of this ordinance, whichever is the later. Section 12. Upon its adoption, the City Clerk shall file two copies of this ordinance with the County Recorder of San Diego County. Section 13. This ordinance, inasmuch as it relates to taxes for the usual and current expenses of the city, shall take effect immediately upon its adoption. This is an ordinance which relates to taxes for the usual and current expenses of the City of Poway. The city has just been incorpo- rated and has no funds whatsoever to provide for police powers of the city. This ordinance is therefore an urgency ordinance for the immediate preser- vation of the public peace, health, and safety. The City Clerk shall cause copies of this ordinance to be posted in three (3) public places within the city limits of the City of Poway. PASSED, APPROVED, and ADOPTED by the City Council of the City of Poway at a regular meeting thereof held this 1st day of December, 1980, by the following called vote: AYES: NOES: ABSENT: COUNCILMEN: Emery, Oravec, Shepardson, Tarzy, Rexrode COUNCILMEN: NONE MAYOR ATTEST: CITY CLERK -3-