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ORDINANCE 674ORDINANCE NO. 674 AN ORDINANCE OF THE CITY OF EL SEGUNDO, CALIFORNIA, AMENDING "THE CODE OF THE CITY OF EL SEGUNDO, CALIFORNIA, 1958, " BY ADDING ARTICLE IV TO CHAPTER 30 OF,SAID., CODE RELATING TO IMPOSING A DOCUMENTARY STAMP TAX ON THE -SALE OF REAL PROPERTY. THE CITY COUNCIL OF THE CITY OF EL SEGUNDO, CALI- FORNIA, DOES ORDAIN AS FOLLOWS: SECTION 1. That a new article to be known as "Article IV. Real Property Transfer Tax, " consisting of Sections 30. 25 through 30. 34 shall be added to Chapter. 30 of "The Code of the City of El Segundo, Cali- fornia, 1958, " and it shall read as follows: "ARTICLE IV - REAL PROPERTY TRANSFER TAX. " "SEC. 30. 25. This article shall be known as the Real Property Transfer Tax regulationsof the City, adopted pur- suant to Part 6. 7 (commencing with Section 11901) of Divi- sion 2 of the Revenue and Taxation Code of the State of Cali- fornia. "SEC. 30. 26. There is hereby imposed on each deed, instrument or writing by which any lands, tenements, or other realty sold within the City of E1 Segundo, 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. "SEC. 30. 27. Any tax imposed pursuant to Section 30. 26 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. "SEC. 30. 28. Any tax imposed pursuant to this article shall not apply to any instrument in writing given to secure a debt. "SEC. 30. 29. The United States or any agency or instru- mentality 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 article 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 therefor. "SEC. 30. 30. Any tax imposed pursuant to this article 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 involving a railroad corporation, as defined in subdivi- 42 ?8 `.,9•ay sion (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 amere change in identity, form or place of organization is effected. Subdivisions (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. "SEC. 30. 31. Any tax imposed pursuant to this article 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 provi- sions of Section 79k of Title 15 of the United States Code, rela- ting 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. "SEC. 30. 32. (a) In the case of any realty held by a partner- ship, no levy shall be imposed pursuant to this ordinance by rea- son 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 mean- ing 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 article, 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 encum- brance 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 article by reason of a termination described in subdivision (b) of this section, and any transfer pursuant thereto, with res- pect to the realty held by such partnership at the time of such termination. "SEC. 30. 33. The County Recorder shall administer this article 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. -2- "SEC. 30. 34. Claims for refund of taxes imposed pur- suant to this article 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. " SECTION 2. That this ordinance shall become operative upon the operative date of any ordinance adopted by the County of Los Angeles, pursuant to Part 6. 7 (commencing with Section 11901) of Division 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 3. That this ordinance shall become effective at mid- night on the thirtieth day from and after the final passage and adoption thereof. SECTION 4. That the City Clerk shall file two certified copies of this ordinance with the County Recorder of Los Angeles County, California. SECTION 5. That the City Clerk shall certify to the passage and adoption of this ordinance; shall cause the same to be entered in the book of original ordinances of said city; shall make a minute of the passage and adoption thereof in the records of the meeting at which the same is passed and adopted; and shall, within fifteen days after the passage and adoption thereof, cause the same to be published once in the E1 Segundo Herald, a weekly newspaper of general circulation, published and circulated within said City of E1 Segundo, and which is hereby designated for that purpose. PASSED, APPROVED and ADOPTED this27th day of Novem- ber 1967. s Mayor of e City of eg n o, CaRfornia. ATTEST: City er (SEAL) -3- 4 2t36A STATE OF CALIFORNIA, ) COUNTY OF LOS ANGELES, ) CITY OF EL SEGUNDO, ) I, - X -11 ICZ.LT, . CX44,$.Q V. o , . , ... , City Clerk of the City of El Segundo, California, do hereby certify that the whole number of members of the City Council of the said City is five; that the foregoing ordinance, being Ordinance No. .6740 .. o o . , is a full, true and correct original of Ordinance No ... 674 ..... of the said City of El Segundo, California, entitled: "AN ORDINANCE OF THE CITY OF EL SEGUNDO, CALIFORNIA, AMENDING "THE CODE OF THE CITY OF EL SEGUNDO.. CALIFORNIA, 1958, " BY ADDING ARTICLE IV TO CHAPTER 30 OF SAID CODE RELATING TO IMPOSING A DOCUMENTARY STAMP TAX ON THE SALE OF REAL PROPERTY. " ; which was duly passed and adopted by the said City Council, approved and signed by the Mayor of said City, and attested by the City Clerk of said City, all at a regular meeting of the said Council held on the. o ,27th . o o day of .... November,... , 19. 67 and that the same was so passed and adopted by the following vote: AYES: Councilmen. , Carr, . Krederick, . Mq lhaneyb ,Nagel and ......... Mayor McGill; ..... o ............. o. ....... o........................ NOES: Councilmen ...�To;.ao..00..00...o.o.o. ABSENT: Councilmen None. oo.o.o.00a..o.o o o..a...00 o.o.00000..00..o.o do hereby further certify that pursuant to the provisions of Section 36933 of the Government Code of the State of California, that the foregoing Ordinance No. ... . was duly and regularly published according to law and the order of the City Council of said City in the El Segundo Herald, a weekly newspaper of general circulation, printed, published and circulated within the said City and that the some was so pub - I fished therein on the following date, to wit:, ,A < ,G, o /f� .... , , , ... , , , , , o .. , , o (SEAL) City Clerk of the City of El Segundo, California. By.o.oa00000aaoo o o o o..o.00 o ao...o..Io..oe. Deputy 42-3°-8 Affidavit of Publication STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES) as CITY OF EL SEGUNDO ) �:...= .�....- ..............:...... ......:.- .................._.._ ••............... being first duly sworn, deposes and says: That he is, and at all of the times hereinafter mentioned was, a citizen of the United States of America, over the age of eighteen years, and a resident of the County of Los Angeles, State of California; that he was, at, and during all of the time of the publication of the instrument hereunto attached the ............ i. _ _.. - . . -. J _ _ J .... Editor of EL SEGUNDO HERALD, a newspaper of general circulation, published and circulated weekly in the City of El Segundo, in said County and State; that said newspaper has been so published and circulated at regular intervals of one week for more than one year immediately preceding the publication of the instrument hereunto annexed; that said newspaper is, and was, at all of the times herein mentioned, a newspaper of general circulation within the meaning of Section 4460 of the Political Code of the State of California; that as provided by said section, said newspaper is published for the dissemination of local or telegraphic news and intelligence of a general character, having a bona flde subscription list of paying subscribers; that said newspaper is not and was not at any of the times herein referred to, devoted to the interests, or published for the entertainment or instruction of a particular class, profession, trade, calling, race or denomination, or for any number of such classes, professions, trades, callings, races or denominations, and that said newspaper is not devoted to or published for, nor was it at any of the times herein mentioned devoted to or published for the purpose, whether avowed or otherwise, of entertaining or instructing such classes, professions, trades, eallings, races or denomin- ations, or any of such clrsses, professions, trades, callings, races or denominations. That the notice, order, ordinance, resolution or instrument hereunto attached on page ............ numbered ...................... - -- .............. ..................---.......--- --...................................----•----.....................-.... ........:...................... .......................... hereof in all respects, including subject matter, and size and arrangement of type, is a full true and correct copy of the said notice, ordinance, resolution or instrument, in words and figures exactly as published; that the same was met and printed in type not smaller than nonpareil and that the body of the same was preceded with words printed in black -face type not smaller than nonpareil, describing and expressing in general terms the purpose and character of the notice, order, ordinance, resolution or instrument intended to be published, as will appear from an inspection of the said annexed instru- ment; that the ✓l w _, ::: °i r �Z - �_.. - 1__ .................... °° ................. .................... - ................... of which the annexed is a printed copy as hereinabove stated, was published and printed in said news- paper at least ....� . .i_'...... week . by -- .....� `-- ..... ............ consecutive publication ......... commencing on the day of .... . ... ................I A. D...a- ::.::: and ending on the -------- ................ day of -. .-- .._'.:, : .................... ...... A. D. 19.___ ... and as often during said time as said newspaper was regn- larly issued, to -wit:; :..----- ...... ...... .................... ............... �yy ......... .. -..... - .....(/. 0.. � ---- -----..._----•--....--- --------- . ............................... ..................... ........... -° ...............°------. ............- -..........---- °-- ........_......... •--•--°-°-.......•••--..............:.._....°----_........ ............................... .... I ......... ..... .......... ........................................................................................................... - Subscribed pind sworn to before me this .... � -- - - - - -- day of ..... ... .............. I A. D. 19 -6.7 .ls t<4 .......... `a, ........ L�..AfiR -ltv�' City clerk of the City of El Segundo, County of Los Angeles, State of California. By.................. ._............................................................................. Deputy City Clerk of said City.