HomeMy WebLinkAboutAUGUST 5,1967
1
ROLL CALL
REALTY
TRANSFER
TAX
EFFECTIVE
DATE
DELAYED
[1,':/,/,';
1
ORDINANCE V
NO. 1358
EMERGENCY
ADOPTED
17:7080
MINUTES
CITY COUNCIL OF THE CITY OF ARCADIA
SPECIAL MEETING
AUGUST 5, 1967
Pursuant to written consent of all Council members (on file in the
office of the City Clerk), and further notice having been dispensed
with; all members being present, Mayor Considine called to order a
special meeting of the City Council on August 5, 1967 at 8 a.m., in
the Council Chamber of. the City Hall.
PRESENT:
ABSENT:
Councilmen Arth, Butterworth, Forman, Hage, Considine
None
Mayor Considine explained that although the City Council had
endeavored to alleviate mechanical problems at the behest of these
concerned with the orderly conduct of escrows and title insurance,
one problem still remained; that of what disposition should be made
with eScrows which were initiated before the tax law was adopted by
the City; that this meeting was called in order to consider and to
take action thereon to ,delay the effective date of Ordinance
No. 1353. This wouid provide time for those involved to notify
clientS regarding the tax and would eliminate the majority of those
transactions now in progress. He emphasized the apparent impact and
the problems confronted by those in the business of real estate.
Councilman Forman referred to two bills before the state legislature
which ~f passed would enact a property transfer tax, a portion of
which would inure to the benefit of cities, and MOVED that Ordinance
No. 1353, as amended by Ordinance No. 1357, be rescinded. The motion
died for lack of a second.
Councilman Hag~ observed that the City could always rescind the
ordinance; that if the legislature passes a property tax bill it
would not be effective until January 1, 1968 and by changing the
effective date of the ordinance there would be "thinking time",
It was Councilman Arth's feeling that those concerned have known
about ,he proposed transfer tax since June 28.
Mayor Considine referred to the substantial difference in revenue
from the proposed state and city transfer tax.
Councilman Butterworth then MOVED that the City Council delay the
effect~ve date of the ordinance until September 1, 1967. Motion
seconded by Councilman Hage and carried on roll call vote as follows:
AYES:
NOES:
ABSENT:
Councilmen Arth, Butterworth, Forman, Hage, Considine
None
None
Whereupon the City Manager presented and read in full Ordinance
No. 1358, entitled: "AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
/1
r: ~:Jo'fi/&
jP/~, U,/ J;/
1.
8-5-67
17:7081
OF ARCADIA, CALIFORNIA, AMENDING THE EFFECTIVE DATE OF CHAPTER 6
OF ARTICLE II OF THE ARCADIA .MUNICIPAL CODE ENTITLED "REALTY
TRANSFER TAX" AS ADDED TO SAID CODE BY ORDINANCE NO. 1353 JULY 5,
1967. "
It was MOVED by Councilman Butterworth, seconded by Councilman Arth
and carried on roll call vote as follows that Ordinance No. 1358
be ADOPTED.
AYES:
NOES:
ABSENT:
Councilmen Arth, Butterworth, Forman, Rage, Considine
None
None
ATTEST:
1
Mayor Considine adjourned the meeting at 8:08 a.m.
~~~~~
e~1{;rk
1
2.
8-5-67