HomeMy WebLinkAbout1980-42 Amending Ordinance No. 5, Series of 1980, Relative to the Real Estate Transfer Tax, Providing an Exemption for Transfers Occurring in Newly Annexed Areasmoo k 3 ] ~~ ~.~~~~ ~ ~
inage SG~.~ Recorded at 9:C)0 A.iwi. FobruyC ~, 193i ,~'~~~~•
Recorder JOhnnette 1']lillispi Eagle County"
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ORDINANCE NO. 42
Series of 1980
,~~'~ AN ORDINANCE AMENDING ORDINANCE NO. 5,
` `. ~-' SERIES OF 1980, RELATIVE TO THE REAL
' ESTATE TRANSFER TAX, PROVIDING AN
EXEi~~PTION FOR TRANSFERS OCCURRING IN
NEWLY ANNEXED AREAS; AND SETTING FORTH
DETAXLS RELATING THERETO.
11'HEREAS, the Town Council adapted a Real Estate Transfer
Tax which imposes a tax on the txansfex of interests in real
property; and,
liiHEREAS, the Real Estate Transfer Tax provides exemptions
fox certain transfers; and,
WHEREAS, the Tawn Council. is of the opinion that transfers
that take place in newly annexed areas should be exempt under
certain ca.rcumstances;
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO, THAT:
Section 1. Section 5 of Ordinance No. 5, Series of 1980,
is amended by the addition of a new subparagraph "q", to read
as follows:
q. Any transfer that is made pursuant to a valid
and legal. ].y enforceable contract for sale ar
presale contract entered into between the
seller and the purchaser prior to the effective
date of the annexation and pursuant to wYzich
transaction, the deed or instrument of con-
veyance is executed and recorded within one-
hundred eighty (180) days after the date the
annexation of the property to the Town of Vail
is effective.
Section 2. If any part, section, subsection, sentence, clause
or phrase of this ordinance is for any reason held to be invalid, such
decision shall not effect the validity of the remaining portions of
this ordinance; and the Town Council hereby declares it would have
passed this ordinance, and each part, section, subsection, sentence,
clause or phrase thereof, regardless of the fact that any one or more
parts, sections, Subsections, sentences, clauses or phrases be declared
invalid.
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' ~ a.~e SG~~ n ~ ,
. ~ Recorded at 9:C„ A.f9. ~ February lb, .II}81
I~ecordex JOhnnette nhill.i.i~s IiagleCat~nty ._
ORDINANCE NO. 42 ,
Series of 1980
AN ORDINANCE AMENDING ORDINANCE N0. 5,
SERIES OF 1980, RELATIVE TO THE REAL
ESTATE TRANSFER TAX, PROVIDING AN
EXEl1~PTION FOR TRANSFERS OCCURRING IN
NEWLY ANNEXED AREAS; AND SETTING FORTH
DETAILS RELATING THERETO.
"._
~:ee ~~4 . {}0-,d
WHEREAS, the Tnwn Council. adopted a Real Estate Transfer
Tax which imposes a tax on the transfer of interests in real.
property; and,
WHEREAS, the Real Estate Transfer Taz provides exemptions
for certain transfers; and,
WHEREAS, the Town Council is of the opinion that transfers
that take place in newly annexed areas should be exempt under
certain circumstances;
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO, THAT:
Section 1. Section 5 of Ordinance No. 5, Series of 1980,
is amended by the addition of a new subparagraph "q", to read
as follows:
q. Any transfer that is made pursuant to a valid
and legally enforceable contract for sale or
presale contract entered into between the
seller and the purchaser prior to the effective
date of the annexation and pursuant to which
transaction, the deed or instrument of con-
veyance is executed and recorded within one
hundred eighty {180) days after the date the
annexation of the property to the Town of Vail
is effective.
Section 2. If any part, section, subsection, sentence, clause
ox~ phrase of this ordinance is for any reason held to be invalid, such
decision shall not effect the validity of the remaining portions of
this ordinance; and the Town Council hereby declares it would have
passed this ordinance, and each part, section, subsection, sentence,
clause or phrase thereof, regardless of the fact that any one or more
parts, sections, subsections, sentences, clauses or phrases be declared
invalid.
t
Section 3. T}ae Town Council hereby finds, determines and declares
that this ordinance is necessary and proper for the health, safety and
welfare oi' t}ie Town of Vail and the inhabitants thereof.
INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED
PUBLISHED ONCE IN FULL, tkzis 2nd day of December, 1980, and a
public hearing on this ordinance shall be held at the regular
meeting of the Town Council of the Town of Vail, Colorado, on
the 16th day of December, 1980, at ?:30 p.m, in the Municipal
Building of the Town.
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Mayor f _ 'e
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ATTEST :
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Town Clerk
INTRODUCED, READ, ADOPTED AND ENACTED ON SECOND READING AND
ORDERED PUBLISHED BY TITLE ONLY THIS ~~~`JL DAY OF DECEMBER, 1980.
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Mayor „~ '
ATTEST:
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Town Clerk
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