.010 Notwithstanding the provisions of Section 2.12.010 of this code, and as an alternative to the amount of any tax upon time-share interests otherwise imposed pursuant to this chapter, the City and the time-share operator of any time-share project may enter into a written agreement (the "TOT agreement") relating to the amount of tax to be imposed upon, and collected from, any time-share owner for the right of occupancy of any time-share unit pursuant to a time-share interest in such time-share project. The amount set forth in said TOT agreement shall be deemed the tax payable to the City by any time-share owner pursuant to the requirements of this chapter. The term "tax" as used in this chapter shall, with regard to time-share interests, refer to the amount set forth in said TOT agreement. Except as otherwise expressly provided in said TOT agreement, all other provisions of this chapter, including without limitation provisions relating to interest and penalties upon delinquent tax payments, shall apply to the amount of any tax established pursuant to said TOT agreement.
.020 For purposes of this section, the following terms shall have the meanings hereinafter respectively set forth:
.021 "Time-share interest" shall mean either a time-share estate or a time-share use (as such terms are defined in Section 11003.5 of the Business and Professions Code of the State of California, or any successor provision thereto) involving a right in perpetuity, for life, or for a term of years, for occupancy of a room or group of rooms forming in either case one accommodation unit (herein called a "time-share unit") in a time-share project which right of occupancy is for the recurrent, exclusive use or occupancy of a time-share unit, annually or on some other periodic basis, for a period of time that has been allotted from the use or occupancy periods into which the time-share project has been divided.
.022 "Time-share operator" shall mean any person or entity who owns a time-share project, sells time-share interests, or operates a time-share project before, during or after the sale of time-share interests in such project.
.023 "Time-share owner" shall mean any person or entity who purchases and owns a time-share interest or who acquires a right of occupancy of a time-share unit pursuant to a time-share exchange program.
.024 "Time-share project" shall mean a project in which purchasers receive the right in perpetuity, for life, or for a term of years, to the recurrent, exclusive use or occupancy of a lot, parcel, unit, or segment of real property, annually or on some other periodic basis, for a period of time that has been or will be allotted from the use or occupancy periods into which the project has been divided. (Ord. 5512 § 1; September 12, 1995.)