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NO. 1472 <br />AN ORDINANCE OF THE CITY OF NEWPORT BEACH <br />ADDING SECTION 3.12.035 TO THE NEWPORT BEACH <br />MUNICIPAL CODE, ENTITLED "EXCISE TAX CREDIT" <br />The City Council of the City of Newport Beach DOES <br />ORDAIN as follows: <br />SECTION 1. Section 3.12.035 is added to the Newport <br />Beach Municipal Code to read: <br />"3.12.035 Excise Tax Credit. The City Council <br />may in its discretion grant a total or partial credit <br />against the building excise tax where a dedication of <br />land and /or improvements thereto is offered in conjunc- <br />tion with the construction of the residential, commercial <br />or industrial units." <br />SECTION 2. This ordinance shall be published once in <br />the official newspaper of the City, and the same shall be ef- <br />fective 30 days after the date of its adoption. <br />This ordinance was introduced at a regular meeting <br />of the City Council of the City of Newport Beach held on the <br />loth day of October 1972, and was adopted on the <br />24th day of . October 1972, by the following vote, <br />to wit: <br />ATTEST: <br />City Clerk <br />CERTIFIED AS TEE i"','F :NAL AN^ <br />CER76`-!E D !.S 7,3 <br />DATE ..> m :...3..y...W..4 <br />�6,6�T ...... <br />CITY CLERK OF TH: QBEACH <br />AYES, COUNCILMEN: McInnis, Rogers, <br />Croul, Distal, Kymla, Ryckoff, Store <br />NOES, COUNCILMEN: None <br />ABSENT COUNCILMEN: None <br />IL <br />DON dm <br />10/4/72 <br />