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1980-42moo k 3 ] ~~ ~.~~~~ ~ ~ inage SG~.~ Recorded at 9:C)0 A.iwi. FobruyC ~, 193i ,~'~~~~• Recorder JOhnnette 1']lillispi Eagle County" ! ... `, ~-~-_.. S~ ~: cu x: - `'~ ~~4.OOl~c1 s - El 'iv7 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. soak 31 ~,Q~~~ ' ~ 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. ;,;~..,,- ;~- I ~r-. Mayor f _ 'e ., j ~; , ATTEST : ,•~ ~ ~,-~ Town Clerk INTRODUCED, READ, ADOPTED AND ENACTED ON SECOND READING AND ORDERED PUBLISHED BY TITLE ONLY THIS ~~~`JL DAY OF DECEMBER, 1980. ,~ -, Mayor „~ ' ATTEST: f~ r /~i~ `~~ G~ / Town Clerk ~~ -2- • • • ~. 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