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ORDINANCE NO. XXIY-
(Cont'c1)
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deputy, PROVIDED: whore the transaction involves the exchange in whole or in
part ot a.ny real propl3rtY or any csta,te or Intcromt therein or any contract right
thereto for any other real property or estate or interest therein or contract
right thereto. theu shall be tiled by or on behalf of each grantor the above
affidavit, which said affidavit shall ntate the fair ma.rket value of the property
so exchangC!c, B.nd eo tax shall be Xevied and collected as to each transfer.
PROVIDED FURTHER: that If the Washington State Department of Revenue
requires reports con~rary with or in addition to the requirement impolled by
this section the requirements of the said department shall supers ede the re-
quirements of this section to that extent.
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Where the transaction involved constitutes a conditional sale of mining
property in which the buyer ha.s the right to terminate the contract at any time,
llnd/or a. lease and option to buy mining property in which the 1088 ee -buyer has
the right to terminate the lease and optiorl at any time, said 'l;1'ansaction shall
be taxable at the time of execlltion only on the consideration l'ocelved by the
seller or leneor (or execution of such contract; PROVIDED: that the tax due
on any additional consideration pa.id by the buyer and received by the seller
shall be paid to the county treasurer (I) at the time of. termination, or (Z) at
the time all of the transaction ia completed except {Ol' the delivery of the deed
to the buyer, or (3) a.t the time when the buyer unequl.vocally exercloes an
option to pl1rchale the propert)', whichever o{ the three events occur firat.
SECTION VI!
In the caae of any sale, where the selling price is not separately stated
or fl,fJcertainable at the time of sale, including leases with option to pUl'chase,
rulel1l of the Washington State Department of Revenue relating to ascertainment
of the tax and I1SGcurity for paymeilt of the ta1( shall be administered by appro-
priate officials.
SECTION VIU
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For the purpolJo of this ordinance, the term "mining proper.ty" shall
mean property containing oX' believed to contain metallic minerals and sold or
le,a8ed under terms which requir" the purchl\ur or lellllor to conduct explora-
tion or mining work thereon and fOl' no other use; and the term "metallic
minerals" shall not include Cla.YIl, coal, sand and grav&l, peat, gypsite, or
stone, Includlnlllimestone.
SECTION IX
Where tho tl'Elnsaction involved const1tutelJ a sale of standing timber
under this ordlna.nc(l and the 11I,,111ng price is stilted in such conveyanc.e as
being determlnabllll in the future on the basl/l of footage removed or on a
stumpage bailie, it I1hall be the duty of tho !lulIeI' to execute and file with the
county treasurer the foregoing amdavlt, ~tatlt)g, in addition to the other require-
ments' tho lCBal delcription ot the real property on which luch Btanding timber
in located and an eetimL\te, tQ the bost of his knowli!dge, of the selling price
ultlmataly to be recoived L\nd IiIhall. pay to the county treasurer under this
ordinance a lum equal to one p-"rcent of such I.I8timated Dolling price, which
lIum Ihall not bo t:redited by the trea"ure~ to the 8 chool fund but shall bo re-
tained in a . epo.rate account. On the expiration date of Nuch timber contract,
if not extended. or at the time cutting and removl11 ia completed, whichever is
flarlier, it 8hall be the duty 01 tho ullo:r to execute l\nd fUn with the county
treasurer an additional allidavit in th(l above forrn .etting price actually paid.
In the event such amount reBulte in (\ tax gronter than tho sum theretoforo paid
on the e8t1mat"" thu Bellol!.' shall pc.y !luch nddltlonal amount to tho courlty
treasure.\' who shall thcr8Upoll place this I\n'lount, together with the lum oriain-
ally dopMited, to the credit of the school fund In tho usual manner. 11'1 the
ovent such amount be leaa than tho, orig~nll\l utlml\te, the trl!lailurer Is hereby
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