HomeMy WebLinkAboutORD 07 (1989)ORDINANCE NO. 7
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
DIAMOND BAR AUTHORIZING THE LEVY OF A
DOCUMENTARY STAMP TAR AND PROVIDING FOR ITS
ADOPTION AS AN URGENCY ORDINANCE.
The City Council of the City of Diamond Bar does ordain
as follows:
Section 1. Short Title.
This Ordinance shall be known as the "Real Property
Transfer tax Ordinance of the City of Diamond Bar". 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.
There is imposed on each deed, instrument or writing by
which any lands, tenements, or other realty sold within the City
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, a tax at the rate of
twenty-seven and one-half cents for each five hundred dollars or
fractional part thereof.
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Section 3. Payment.
Any tax imposed pursuant to Section 2 shall be paid by
any person who makes, signs, or issues any document or instrument
subject to the tax, or whose use or benefit the same is made,
signed or issued.
Section A. Exemptions.
The tax imposed pursuant to this Ordinance shall not
apply to:
(a) Instruments given to secure a debt (Revenue and
Taxation Code Section 11921).
(b) Instruments of the United States or agencies or
instrumentalities thereof (Revenue and Taxation Code Section
11922) .
(c) Conveyances under reorganization or adjustment
plans (Revenue and taxation Code Section 11923).
(d) Conveyances under order of Securities and Exchange
Commission (revenue and Taxation Code Section 11924).
(e) Transfers of certain partnership property (Revenue
and Taxation Code Section 11925).
(f) Instruments taken in lieu of foreclosure (Revenue
and taxation Code Section 11926),
As these sections of the Revenue and taxation Code may
be from time to time amended.
Section 5. Administration.
The county recorder shall administer this Ordinance in
conformity with the provisions of Part 6.7 of Division 2 of the
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Revenue and Taxation Code and the provisions of any county
ordinances adopted pursuant thereto.
Section 6. Claims for refund.
Claims for refund of taxes imposed pursuant to this
Ordinance 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 _Z. Declaration of Urgency.
The City of Diamond Bar was incorporated on April 18,
1989. It is necessary the City receive all revenues to which it
is entitled in order that it can provide for the needs of its
residents. The City Council therefore determines the public
peace, health, and general welfare of the community require that
this Ordinance take effect immediately upon its adoption.
Section $. The Mayor shall sign this Ordinance and the
City Clerk shall cause the same to be posted within fifteen (15)
days after its passage in at least three (3) public locations in
the City of Diamond Bar.
PASSED, APPROVED and ADOPTED this 18th day of
April , 1989.
AYES: COUNCIL MEMBERS: PAPEN, HORCHER, WERNER,
MILLER and FORBING
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAINED: COUNCIL MEMBERS: None A"- (.
Mayor
City of Diamond Bar
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ATTEST:
I, GEORGE CASWELL , City Clerk of the City of
Diamond Bar, California do hereby certify that the foregoing
Ordinance was introduced at a regular meeting of the Council of
the City of Diamond bar held on the 18th day of April ,
1989, and was finally passed at a regular meeting of the City
Council of the City of Diamond Bar held on the 18th day of
April 1989.
Executed this 19th day of April` , 1989 at
Diamond Bar, California.
GEPrRGE CASWELL ,City -Clerk
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