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Ordinance 377i Q~~~~, cs~ ~ ~~,`,~` o~~ ulfiP~~t't'~d~ ~xo~~o r rfoCCSr~cxxx~ +~'~~ 'i`Ax t3~ 3.A.~~ +'3P' k~Ai', PRUp~;RT~' WY'~'HT.~' ~ ~3"':t'Y`r ALlI1 Thad ~:itq tlour,ni7 ~+P t.Yat~ ~:1F;9- o.at' Cupert;ir,c- .'leaa,~ ord~i.n a~ t'6>~.1Oitt~Y ~A-' ~~e~ati,rrn 1. Th~.a ordiris~ace aha*17. bc+ knvim as Lhe "R.~ae~. prtt~Oearty 'fira~zat'c~r ~`a~x C}rc~~rz~s~. ;er raf t:kie City c~1' ~iperY. ~nri'". It is adopted pu.raur~nt t:o Ltae ~su~horlty ~;vrttr~i-Zt?d sr~ ;Pa~~t b«.,~ ~~amrn~:-~rsitig with ~~r.#:tczn 1.:19{~:z.j of I34.e#s#c,^ ~ cf r.,}z~. T~~!vr~rxxae e~nr] TaxaL-ion Grade or the SL~ttie ~f Ga~.Itc~art-sie:. S~+c.*,ior~ 2. ~.'h~y~~ ~~ ?-.f-ruby i.nt~ra~rd ~n :.<a<~h F.}~++~d. i!~,~t;rai~. want ar. writ 3 rag r.yy wh.iT.~}i ~rsv ~ y r:::: ~, t-sr~er.~;~it r.~ t n,w a~~.'r,~»~T :~,}~~? ;, ]r sole} w3thi.n t,h.ci Cii•y o:f' r:r~pe,~r~t. ; exc> cet-;r .1 :1 ba ~,rante~i, aar~l~netI, trans;rerred tea" athea^wiae rs~,z,v-3y4a t,r~, c;r ~~resL•ed ~fn, ttze pur- cha:~c~r car xrs~a^chasex~e, ox~ tatty t,t,Fsez^ p~az~son or ~+«,,r.~a„g, '~~ his U.i~ thv i-r d 1 I'Q'f~:f i on, ~.~Y.t>:; r t~ a r. cys;;~ i r~ ~ °-~ `• { ter} ~.,.,, ,; ~ 1 ~.i ~a f) f f. h.~ tn;;~r~:st cr ;~r•op~lrt,y co~~xv'F3v~res ~~xc'1.sssSve c1' whfs .~g1~~~, cs1' ars]r ]..~ r,'ll'1 OT' L9T!~:IaYT~~L~f fICC3S X'~':^:,St.lrlli!~, t, f1 E'2"~ C'rl Bt t !`!f' ':• :TYi~ ~~.'' '~91 ~~ c~xceedr3 c>rae. }sue:dz~ad tic:"1 tarT;a ~$1.Q~), ,?t.}) , a tax et t.~~r, r-:~+,~ o~' t>.r~nt:y•-soven aiaci ore-~n~a ~.'' r..r~,°~t~ ~~ia.2 ~5j #'ar c~~rla f tv~ Yss.srsdr~r~ dollars (~yjoQ.oQ) or fr~r.t,ic~~~ral ~~rart th~s-~~~f « Sect#on ?. Any tax :.r::;~.~::~~i p:ar~..~iaz;t. ,., :3- ~t , r~*. ,~ hr.>r~araf :~:t~ll be paid by anp parso.; wha :~e`~tns, s#~rt~a cr "ss~es assj r3oriamont or irsst;rszrfdent subject t,a the t•ax, Qr fr~r 's~hQSe t.saA oar banefit tt-,e carne is made, ei:anaci oar isaue~d. Sect for ~; . Any to K #mpoee-ci pui~sua tit t~ tTs# s vrrg #.raanGe shall not« egpl.y ~~a nny irsstr~su~len'~ ic~, ~raril'>ar.g givara t.a seam-a 1 t ..A!C•~I•r r..•~~ ..A•. a d~bL, ~ ~.:.:`L.:.r:t..^..5.#N:~.ItN.;vhX:_fZ.r..~-.4Cdhs~,..T.,.,r::.ras:as.tuKtl~::..;~. r. ~--i.e-r,,..-+i.~._--... .... _... ... .,... .. i i SAbI.ta for any t.o~~c :1ro}~r~t~dci ~.»~rr~udnt t,Q ;txi~ a:s~~i.rssnr.~ w:ti'~ x-e,~poc~; to snn~ ti~-tad, S.€~1c~'.x`~srn9r1~~ , ar ~i-.~ t, i.nd Y,a~ whiai~ S t S.a ~- party, bL,t tho `~~x ms~v t~e+ r.olls+c~tsct by as~+~tcsi,,.r~t. fx•om sa-rsy otr~er par~.y 13abXe L+:s~r~,Corr ~3aaL 3.an G ~ •~ny tsar irspatseri purzg;xs~nt tQ thi ~ ~ardf t~$nc e s?a+~ll ns>f; a4p~Y to the making, dali`~erin~ or ~`ilin~ of ~un- ~a~ranc~~ xo ~kb Rtf+~~tfac s~ny' p~.nn t~f* rsar~,sni.gstic4c~ or ad ~u~ tag*riL w. {a~ Oont, ~e~l u>zQsar tha .~scls~ral ~ankx~uptcy Avt, ass asa-es~rt ad ~ {b} ~tFpz°avsd ir, s~tr-, ~q=.aiL~+ ~•c~s~e~i.~'~rsh4f~ prac~sACling in s eaurt; tnvo:virig ~ .r~st i:lrossrc! +~arFarati~n, asp d©?'ined in eub- dfv~is~ian ~~rr; c~~" 3dc*,'c~n 2c~5 ~~ Titles 11 of th,~ Cnited 9teLAg Cc~t3e, * a arrsr~n~es{i; (a j ~~~~~•• ~~ ed ~~ an a~~sity r$rc~ive~rs~ip pracc:+editsg i.n s c:caur:. It7vc>lv-ir.~ ,a c;,,:~p,.~z~e.t.;o;., ats ti,~f lr,r~t~ i.n ~u2adivlsiora (3J Qf 5~ct. i,an 5th c.,f 7~it'1! 11 c,f' t.ha t7r~it.r~d S ;at es Co~.ie, ass ew,c~r,d- ed q yr {?i) ~`~`~:~Ht':~ e :~r,r.~ ~.:,,~n~,:• ir: ;;~~~~+ it~Y'~ `'c~r~zc car ~lnr.~4- ._ ..~. :.:.... .:. ~ ~ "f'. ~~.. c>1' ,:r~~~,;.~a' ~,,~, ~:r c!."~'~~• „mod. ~,b,~;~;;~i~,,~ ~:aj tG (ci), fraC?a~ivR, r~f t.hi~ •:;;:.~Si,r yh~ill ~::r12g ~~~-"~~• ~.rct= m~ici?-tg, de't.'ivc=r^y yr 1'iI{tag of inst~^ti- ;n~srsttt a.f trarsi'ez~ rr ~~c>..y..~~er~ces nccu.re ~rithin fives ytcss:^~ frogs the d~*.c~ n'' r~;.sc-'r, cc~r?":r*nat,_ir.r,, approval yr ch~ar,ge. ~~c;,'~ ~r~ ~ , Ar:v ~ x,.; i~ps.~.s~d p,arnu„~:. .a thus ordlnKn':s a~u~ll sao± $F';'l;~ t.cs t*?e rnekSrcg us drsl.i~©ry oP cor,veyanCe-8 2.a znai~s s1'featl ve a,sy order of thc~ 3ecuritioa and $,xahange Ccszr~:ia- $ iaa, a a clef ir~ec3 h.n subt3 f v l s ion {a ~ of Section aU£~3 of the lnt ern~al Re-v~nue Cage of ).9~,: but ora1T if-~- {a1 '"~zs r>raer of : h~ 4ecuriti~~a and ~xchar~ga Cortmai,saic~n in esbsdisnc+: tv ~a~hi.ah cruets cnnve~fanca is scads res3ite"g tbas~ sus~h ..k . _ . _4.... ... ,i .. . 6 . . ..,. a ,: + 3 n r~f~ ~t1Gh OX't3!!k' ~i)ltt,'.{3 iet; the j/P~~i~F~T•t~ w11TCti3 ~.9 t~1"dN'!'~ !!d ~.~ be oon'vlty'd~~; td} S~scsb- c~un~eja•aae is merle i ~~ c~bec~leraae to auoh ©rci,tr. 8ecsti,on ~. (a} Ira tl~~,~ c:a~ao of ~ra~ rea3tT held by p-artr~erst~ip, xxcr Iee7 e:uil ba :i.rtpo~-ed pursuant to hie ord i »ttoe+a by reee~~ca of auT tY-ar~sgei• 04° an J.ratnz~tst i.n m p~srtr~,~+r- ship or ta~hex~wi,se, ii`~.. {1} $uah part:ner~-hi.p {or anoth3r p+ertner~hip} ie cscmeic~ere+d s a~-raY inu3ng partnr~re'hi~a within t,taa m+~anir,g of Sac~tion ~'dA ai' th~i Ints.»raa~. Rr,ver~ue Gca~.ia of 19'x.; as r,1 (~} :t~~icsh contiraui~n~ p ,r•tn~rrsr.ip continues to hc~`id the rc~elLy ccanaerne~d. fib) ~r there #s a t,Rr**~inatioh of and pat*traership wit.h.. in the z~aar-irsg ,~t ~k~rr,tion '14th of tha .T,ntaz•raa2 hever,ti.n Cvcie cai' 191}., l'or. purp4see ~i' this oa~dinarace, ~uah partnerah:S.~~ ~1ata11 be tre+eted as trav.ln,~, axerutgd sn instrtamgrat. ~rherehy ther,g w$s contel+ad. i'car 1`e;z• me~rkat value (axclusiwe oi` the va)ua ref any 1 icon oi~ Ane~urz:~rance :'e:ti9iriing i,h~r~ora) ~ al.'1 .'~&it;~ 11N~1(3 'uy ~31:;'„'l. pertn~+^sF,#~~ 3t the time of s~1ch thrm.ir~st,ic~n. (c} pr, t. rn~7r~,~ than one tax s'raall bey imposed i:-ur•suant t,c~ this t>z•c3inenr,a 1>y rc~asnn of ,: teranineti.on dsacz•ibed in subd:i- vis#on lb) r ens ar.~y traneJ'er~ purgue:~t tharQto, with raspc~ct to then ree2ty .n<.,~.d bg such pax'tnarship at tye time ~af suah t r,:^:T.ir.at ion. ~,.' Section ~. 'T'tte Qour~at,~ 1~c+corder shalt edmini stet this r~rrliraarace in aonformit.y ~xitb~ Lhe provisions of F~t.r1,; 6.7 of Division 2 rzI she Rerenuea end Ta~caetion 4ode and the provisions of Santa Mara fla.~nty 4rtlircnraae Ao. Rg-.215 edoptec"~ p~arsusnt theretca. Beat: ~.cA i4. 01~3.ss tar refund cat tn~ter L~poaael ,p~u~suatst } ,, ~ ..- ,~' ~511}~:r ~,a~i~€'r~~14T~.1.a ~ S;'~.. 'r ~~ e ~ 'a ~ k+, t t~..~~~~, ~~ • .. ~ r Xi ~ d ~r~ ~ u.. ~"~ ^f'4i'. $r{~,._ ~i ~. ~.y~, .. :y, T..,~'1.., ,~. ~.~ 5~a.~ .'Y cs-~r,`t...', •41 .V~.h.,,, ., ~ 4~2fw..b~ fdi~ f~ :~.'~ t ti/ ~eetlun li. T2ii~ orditzanr.a atxall ?-eac~e cperati+-,u at li?.0~ 11 .M. ~~t. .~ant~nry 1, 2,~ft~, ~-t.ich ire ttia opareti~a c~a~e v.'' Gr+iir~ncr, Uo. N:~-~?_1,~ adopte+f pig the t7ount,y ot" Santa ~fl•~ .at: llov~m2>br ~.~ 9 19b7, Uwrauan t to Part ~ . ; t t~omdrana Ong rti'~ S4a'Lion 11+?~3~•) of mi~it~ion ~ ai' the ReYS~rue and Tsxirtian ~~t of thc~ ~~tace of 'Ca~Sf©rnia. ~/~ i~ercti.on 'ir. Ctpan eniactaoaerit of ~thi~s ord~.nat:u:r, the C~itT tt~.r~rk sha11 tiie twa ae~~ti1'ie~ ooplea of this ~e.r~dinrance witk~ the Cau~nt;7 Recorder at -3anta Olara Cc7unty. ~'~ 8ea:ti~xn !.3. 'his orciinen~;e is cr-ected ae an a~rgeney . e~rAir,anuu .pvrsxaanr, to ~e,ction .~6~3:37 t,f tha Qv~erncnent Codt- of i.he~ SGat.e aP Ceiifornia ar:d shall take aPfer•t im~n~c5iatc~l,y. T't.e faGt.s cans~• i~,uting s~.:ch :.rgnncy st~e that this ordinance pro~idr~g ~'ar a t,~~x 2~,vy far t;he ~i~~ual. and .^u~t~rent expenses off' ¢be Oi.t;~. ~/ ~ec:tf~:,n 3I~, `!'he City C1.es~~r is hereby ti~tharizad and c~irgc:ted to c;eus~~ e cart~i.±'ied copy o1.` this ordinanc~a to be ~,ubl~ l~~ed et~, .lc~ast~ c,r~ct~ wa.t,Yain f'lftear, (1 ,1 clays ef't.er i!:s ~nsr...rr,At~t Irj f,hr Guy>~r~i~~no rc.:uric~r, t:i~.~= cf ficiai ,-,E3w.~peper ~.,!` the G~Gy. .iNTRC;pUCis13 tend ~,. AG~f'I~D this ~'_nth dtty o.f Nc~~~ernbar at ~ re ~ul.ar meat. ? ng of thr~ Ci i:y Gounei.l of the City o;°' ~upc~rt i nc: by the following vote: AY1~: Cuuncilmens DemPstar, .loh,~son, Noel, ctok~s, ~+tzgerald NOBg : Count 1 lmen ~ Nana A~ k~AtT : Cvunc i lrrte-n ; Ntine APPROVRD: ror, T iper~ n~ a ~-_____ ~T'YR~~ s .~