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HomeMy WebLinkAboutOrdinance 1228 (Innaplicability of Instruments of Foreclosure)CLERK'S CERTIFICATE I, MARION A. GRADY, City Clerk of the City pf San Rafael, and Ex -officio Clerk of the Counctil of said City do hereby certify that the foregoing Charter Ordinance �Io. 1228 entitled: An Ordinance of the City of San Rafael Amending Chapter 3.22 of the San Rafael Municipal Code by Adding Section 3.22.130, Inapplicability to Instruments of Foreclosure. is a true and correct copy of an ordinance of said City, and was introduced at a regular meeting of the City Council of the City of San Rafael, held on the 6th day of July 19 76 Published as re- quired by City Charter in the Independent Journal , a newspaper printed and published in the City of San Rafael and passed and adopted as an ordinance of said City at a regular meeting of the City Council of said City held on the 19th day of July 19 76 by the following vote, to -wit: Ayes: Councilmen: Jensen, Miskimen, Mulryan and Mayor Bettini Noes: Councilmen: None Absent: Councilman: Nixon WITNESS my hand and the official seal of the City of San Rafael this 22-,ti,/day of /ti 1971,11 . MARION A. GRADY, City Clerk ORDINANCE NO. 1228 AN ORDINANCE OF THE CITY OF SAN RAFAEL AMENDING CHAPTER 3.22 OF THE SAN RAFAEL MUNICIPAL CODE BY ADDING SECTION 3.22.130, INAPPLICABILITY TO INSTRUMENTS OF FORECLOSURE THE CITY COUNCIL OF THE CITY OF SAN RAFAEL DO ORDAIN AS FOLLOWS: DIVISION 1. Chapter 3.22, Documentary Stamp Tax, of the San Rafael Municipal Code is hereby amended by adding Section 3.22.130 thereto, which shall read as follows: 3.22.130 Inapplicability to Instruments of Foreclosure. Any tax imposed pursuant to this Chapter shall not apply with respect to any deed, instrument, or writing to a beneficiary or mortgagee, which is taken from the mortgagor or trustor as a re- sult of or in lieu of foreclosure; provided that such tax shall apply to the extent that the consideration exceeds the unpaid debt, including accrued interest and cost of foreclosure. Consideration, unpaid debt amount, and identification of the grantee as beneficiary or mortgagee shall be noted on said deed, instrument, or writing, or shall be stated in affidavit or declaration under penalty of perjury for tax purposes. DIVISION 2. This Ordinance shall be published once in full before its final passage in the Independent Journal , a newspaper of general circulation, printed, published, and circulated in the City of San Rafael, and shall be in full force and effect thirty (30) days after its final passage. C. AULTMayor �BET�NI, Attest: MARION A. GRADY, City erk The above and foregoing Ordinance No. 1228 was read and introduced at a regular meeting of the City Council of the City of San Rafael, held on the 6th day of July , 1976, and ordered passed to print by the following vote, to -wit: AYES: COUNCILMEN: Jensen, Miskimen, Mulryan and Mayor Bettini NOES: COUNCILMEN: None ABSENT: COUNCILMEN: Nixon and will come up for adoption as an Ordinance of the City of San Rafael at a regular meeting of the Council to be held on the 19th day of July 1976. MARION A. GRADY, City .-,Vlerk