Ordinance No. 788
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.1 ORDINANCE NO. 788
2 AN ORDINANCE OF THE CITY OJ:;' VERNON, IMPOS ING A DOCUMENTARY STAMP
T AX ON THE SAL}~ OF REAL PROPERTY:
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4 THE: CITY COUNCIL OF THE CITY OF VERNON DOES ORDAIN AS FOLLOWS:
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S:~;CTION 1: This ordinance shall be known as the nReal
6 Property Transfer Tax Ordinance of the City of VernonU. It is
7 adopted pursuant to the authority contained in Part 6.7 (com-
a mencing with Section 11901) of Division 2 of the Revenue and
9 Taxation Code of the state of California.
SECTION 2: There is hereby imposed on each deed,
instrument or writ~ by which any lands, tenements, or other
real ty sold wi t~\J~-' Ci ty of Vernon 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 encum-
brances remaining thereon at the time of sale) exceeds one hundred
dollars ($100.00), a tax at the rate of twenty-seven and one-half
cents ($0.275) for each five hundred dollars ($500.00) or
fractional part thereof.
SECTION 3: Any tax imposed pursuant to Section 2
23 any document or instrument subject to the tax, or for whose
22 hereof shall be paid by any person who makes, signs or issues
24 use or benefit the same is made, signed or issued.
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SECTION 4: Any tax imposed pursuant to this ordinance
26 shall not apply to any instrument in writing given to secure a debt
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SECTION 5: The United states or any agency or instru-
28 mentality thereof, any state or territory, or political sub-
29 division thereof, or the District of Columbia shall not be liable
30 for any tax imposed pursuant to this ordinance with respect to
31 any deed, instrument, or writing to which it is a party, but the
32 tax may be collected by assessment from any other party liable
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.1 therefor.
2 SECTION 6: Any tax imposed pursuant to this ordinance
3 shall not apply to the making, delivering or filing of conveyances
4 to make effective any plan of reorganization or adjustment
5 (a) Confirmed under the Federal Bankruptcy Act, as
6 amended;
7 (b) Approved in an equity receivership proceeding in a
8 court involving a railroad corporation, as defined in subdivision
9 (m) of Section 205 of Title II of the United states Code, as
10 amended;
11 (c) Approved in an equity receivership proceeding in a
12 court involving a corporation as defined in subdivision (3) of
13 Section 506 of Title II of the United states Code, as amended; or
14 (d) Whereby a mere change in identity, form or place
15 of organization is effected.
16 Subdivisions (a) to (d), inclusive, of this section
17 shall only apply if the making, delivery or filing of instruments
18 of transfer or conveyances occurs within five years from the date
19 of such confirmation, approval or change.
20 SECTION 7: Any tax imposed pursuant to this ordinance
21 shall not apply to the making or delivery of conveyances to make
22 effective any order of the Securities and Exchange Commission, as
23 defined in subdiviSon (a) of Section l083 of the Internal Revenue
24 Code of 1954; but only if
25 (a) The order of the Securities and Exchange Commission
26 in obedience to which such conveyance is made recites that such
27 conveyance is necessary or appropriate to effectuate the provisions
28 of Section 79k of Title 15 of the United states Code, relating to
29 the Public Utility Holding Company Act of 1935;
30 (b) Such order specifies the property which is ordered
31 to be conveyed;
32 (c) Such conveyance is made in obedience to such order.
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SECTION 8:
(a) In the case of any realty held by a
2 partnership, no levy shall be imposed pursuant to this ordinance
3 by reason of any transfer of an interest in a partnership or
4 otherwise, if
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(1) Such partnership (or another partnership) is con
6 sidered a continuing partnership within the meaning of Section
7 708 of the Internal Revenue Code of 1954; and
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(2) Such continuing partnership continues to hold the
9 realty concerned.
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(b) If there is a termination of any partnership within
11 the meaning of Section 708 of the Internal Revenue Code of 1954,
12 for purposes of this ordinance, such partnership shall be treated
13 as having executed an instrument whereby there was conveyed, for
14 fair market value (exclusive of the value of any lien or encum-
15 brance remaining thereon), all realty held by such partnership at
16 the time of such termination.
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(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 thereto, with respect to the realty
held,~y such partnership at the time of such termination.
SECTION 9: The County Recorder shall administer this
22 ordinance in conformity with the provisions of Part 6.7 of
23 Division 2 of the Revenue and Taxation Code and the provisions of
24 any county ordinance adopted pursuant thereto.
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SECTION 10: Claims for refund of taxes imposed pur-
suant 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 11: 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 ll90l) of
Division 2 of the Revenue and Taxation Code of the state of
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.1 California, or upon the effective date of this ordinance, which-
2 ever is the later.
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SECTION 12: Upon its adoption the City Clerk shall file
4 two copies of this ordinance with the County Recorder of Los
5 Angeles County.
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SBCTION 13: There being no newspaper of general
7 circulation printed, published and circulated in the City of
a Vernon, the City Clerk is herebymrected to certify to the passage
9 of this ordinance and shall post the same, or cause the same to
10 be posted, in three of the most public places in said City, to
11 wit: The northwest corner of 38th Street and Santa Fe Avenue,
12 the northeast corner of Leonis Boulevard and Pacific Boulevard,
13 and on the bulletin board in the lobby of the City Hall of said
14 City, located at 4305 Santa Fe Avenue, all in the city of Vernon
15 Los Angeles County, California. That this ordinance shall be in
16 full force and effect thirty (30) days from and after the final
17 adoption of this ordinance.
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ADOPTED and APPROVED this
2lst
day of November
A&TES .
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, ".- --'Vl./\.Jl.JI./
- F. . Ziemer, City
Clerk
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.1 STATE OF CALIFORNIA )
) SSe
2 COUNTY OF LOS ANGELES )
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4 I, F. A. ZIEMER, City Clerk of the City of Vernon, do
5 hereby certify that the foregoing Ordinance No. 788 was duly and
6 regularly introduced at a regular meeting of the City Council of
7 the City of Vernon, held on November 7, 1967,and thereafter finally
8 adopted at a regular meeting of said City Council held on the
21st day of
November
, 1967.
AYES:
Councilmen Anderson, Furlong, Mailliard, Ybarra
NOES:
Councilmen None
ABSENT:
Councilmen Malburg
~~:'ty Clerk
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311 STATE OF CALIFORNIA )
411 COUNTY OF LOS ANGELES ~ SSe
511 CITY OF VERNON ~
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all hereby certify that I did, on the
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9\11967, post three (3) copies of Ordinance No. 788, one in each of
1011 the following places, to wit:
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II! Street and Santa Fe Avenue, at the Northeast corner of Leonis
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12 [Boulevard and Pacific Boulevard, and on the bulletin board in the
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13 ilobby of the City Hall of the City of Vernon, located at 4305
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141 Santa Fe Avenue, in said City, there being no newspaper of general
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15' circulation printed and published in the City of Vernon.
AFFIDAVIT OF POSTING
I, F. A. ZIEMER, City Clerk of the City of Vernon, do
22nd
day of
November
At the Northwest corner of 38th
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20liSubscribed and sworn to before me
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I L R BURCH
29 \ My Commission Fxph;s Mar. 24. 1969
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Signed this
22nd
day of
November
, 1967.
~
F. .' 1emer,
City Clerk
. \
"'7
day of 6'7/tJ~
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PubllC in and for said
and state.
, 1967.
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' L. R. BURCH
I I) NOTI\RY PUBLIC . CALIFORNIA
1 PRINCIPAL OFFIC~ IN
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