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HomeMy WebLinkAbout1662 - Property Development TaxORDINANCE NO. 1662 AN ORDINANCE OF THE CITY OF NEWPORT BEACH AMENDING SECTION 3.12.060 OF THE NEWPORT • BEACH MUNICIPAL CODE RELATING TO EXEMPTIONS IN CONNECTION WITH THE PROPERTY DEVELOPMENT TAX The City Council of the City of Newport Beach DOES ORDAIN as follows: SECTION 1. Section 3.12.060 of the Newport Beach Municipal Code is amended to read as follows: "3.12.060 Exemptions. There is excluded from the tax imposed by this Chapter the following: (a) The construction and occupancy of any building or unit by any bank, including national banking associations pursuant to Article XIII, Section 27 of the Constitution of the State of California. • (b) The construction and occupancy of any building by an "insurer" as that term is defined in Article XIII, Section 28 of the Constitution of the State of California. (c) The construction and occupancy of any building by a nonprofit corporation exclusively for religious, educational, hospital or charitable purposes. (d) The construction and occupancy of any building by the United States or any department or agency thereof or by the State of California or any department, agency or political subdivision thereof. (e) The reconstruction of any structure destroyed by fire, flood, earthquake or other disaster to the extent that the square footage of the reconstructed area does • not exceed the square footage of the area destroyed." SECTION 2. This ordinance shall be published once in the official newspaper of the City, and the same shall be -1- effective thirty (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 22nd day of March , 1976, and was adopted on the 12th day of April , 1976, by the following vote to wit: ATTEST: City Clerk CERTIPIEC AS TT O^'.G!`!AL AND CEiRTiEc] AS TO PL'J:UATi2N DA. E /b... ..2 14 CITY CLERK OF 1H_ CHY fr',V7O :T BEACH • AYES, COUNCILMEN: McInnis, Dostal Barrett, Kuehn, Rogers, Ryckoff, Store NOES, COUNCILMEN: None ABSENT COUNCILMEN:None DDO /bc 3/11/76