§ 21-41. Exemption—Transfers involving public entities.

(a)

No Documentary Transfer Tax shall be due upon any document pursuant to which a public entity acquires title to real property. As used in this article, "public entity" shall include any entity described in Section 811.2 of the Government Code, and, for purposes of this subsection only, shall also include the United States, any state therein or territory thereof, and any agency or instrumentality of the foregoing.

(b)

No Documentary Transfer Tax shall be due upon any document transferring an interest in real property from a public entity, where such transfer is made pursuant to an agreement requiring the grantee to immediately reconvey the interest to such public entity.

(c)

No Documentary Transfer Tax shall be due upon any document transferring an interest in real property from a public entity to a nonprofit corporation, when the acquisition, construction or improvement of such property was financed or refinanced by obligations issued by such nonprofit corporation on behalf of a governmental unit, within the meaning of Section 1.103-1 (b) of Title 26 of the Code of Federal Regulations.

(Ord. No. 3982, § 2 (part), 3-25-08)