§ 3.32.120. Exemptions and exceptions—State conveyance to nonprofit corporation

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Any tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument, or writing by which the state, any political subdivision thereof, or agency or instrumentality of either thereof conveys to a nonprofit corporation realty, the acquisition, construction or improvement of which was financed or refinanced by obligations issued by the nonprofit corporation on behalf of a governmental unity within the meaning of 1.103-1(b) of Title 26 of the Code of Federal Regulations.

(Ord. No. 380)

                    
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