HomeMy WebLinkAbout1472 - Excise Tax CreditNO. 1472
AN ORDINANCE OF THE CITY OF NEWPORT BEACH
ADDING SECTION 3.12.035 TO THE NEWPORT BEACH
MUNICIPAL CODE, ENTITLED "EXCISE TAX CREDIT"
The City Council of the City of Newport Beach DOES
ORDAIN as follows:
SECTION 1. Section 3.12.035 is added to the Newport
Beach Municipal Code to read:
"3.12.035 Excise Tax Credit. The City Council
may in its discretion grant a total or partial credit
against the building excise tax where a dedication of
land and /or improvements thereto is offered in conjunc-
tion with the construction of the residential, commercial
or industrial units."
SECTION 2. This ordinance shall be published once in
the official newspaper of the City, and the same shall be ef-
fective 30 days after the date of its adoption.
This ordinance was introduced at a regular meeting
of the City Council of the City of Newport Beach held on the
loth day of October 1972, and was adopted on the
24th day of . October 1972, by the following vote,
to wit:
ATTEST:
City Clerk
CERTIFIED AS TEE i"','F :NAL AN^
CER76`-!E D !.S 7,3
DATE ..> m :...3..y...W..4
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CITY CLERK OF TH: QBEACH
AYES, COUNCILMEN: McInnis, Rogers,
Croul, Distal, Kymla, Ryckoff, Store
NOES, COUNCILMEN: None
ABSENT COUNCILMEN: None
IL
DON dm
10/4/72