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~,~o <br />ORDINANCE NO. ~ ~' ~~~-~. <br />AN ORDINANCE CONCERNING TAXING TRANSFERS of REAL <br />PROPERTY; AND ADDfiNG SECTIONS 3.84, 3.842, 3.844, <br />3.8 4 6, 3. S 4 8, 3. S 5 a, A~~D 3, 8 5 2 TO THE EUGENE CQDE , <br />1971; AND PROVIDING AN EFFECTIVE DATE. <br />THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: <br />Section 1. There are hereby added to the Eugene Code, l9?1, <br />sections numbered and reading: <br />3.8 4 4 Real-Property-~Tra~ns~f er Tax ~ Title . Sections 3.84 0 to <br />3.852 may be referred to as the Real-~Property~-Transfer <br />Tax ordinance of Eugene. <br />3.842 Real-Property-Txansfer Ta,~ - imposition. Except as sec- <br />tion 3.844 pro~rides to the contrary, a tax is hereby im-~ <br />posed on all transfers of interests in real property in the city. <br />On each such transfer the transferor and transferee are jointly <br />and severally liable to pay the ta,x. <br />3.844 Real-Property-Transfer Tax -.Exemptions. The tax imposed <br />by section 3.842 does not apply to a lease or to a <br />transfer <br />~a~ recorded before the section takes effect; <br />~bS made by or to a government or a governmental <br />instrumentality; <br />~c} made solely to provide or release security <br />for an obligation; <br />~.d~ made in execution of a judgment in a mort- <br />gage or lien foreclosure or in lieu of such afore-~ <br />closure; <br />~e~ made merely to confirm or correct a previous <br />conveyance; <br />~f~ made between reorganizing corporations solely <br />for purposes of effecting the reorganization; <br />~g~ rnade in a partnership reorganization merely <br />to transfer property from one partner to another, pro- <br />vided <br />1. the partnership continues to exist <br />within the meaning of the United States Internal <br />Revenue Code, and <br />2, the partnership continues to own the <br />transferred property; <br />~h~ made to the transferor's spouse under a <br />decree of dissolution of their marriage or to fulfill <br />ordinance - 1 <br />