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There is hereby imposed upon the development and construction of all condominium projects, whether of new construction or of conversion of an existing building, a tax of $1,000 per planned salable unit. This tax shall not apply to:
A. Any development or construction of a condominium unit or conversion of an existing building to a condominium for which a completed sale has occurred and to which legal title has passed from the seller to the buyer;
B. To any development or construction of any condominium unit or any unit within a conversion of an existing building to a condominium which has prior to September 20, 1973, paid, or unqualifiedly obligated itself to pay, any fee to the City of Culver City in lieu of dedication of open space pursuant to any ordinance of the City of Culver City.
('65 Code, § 33E-1) (Ord. No. CS-782 § 1 (part))