The provisions of this chapter shall be operative on and after twelve-one a.m. on January 1, 1968, in the event the Documentary Stamp Act of the State of California authorizing such tax and an ordinance of the County of Orange, California, imposing a documentary stamp tax pursuant to such authority, is then operative and in the event that the Congress of the United States has not provided on or before January 1, 1968 for a tax on transfers of real property. The provisions of this chapter shall be operative at all times and only during such time as the Documentary Stamp Act of the State of California and any ordinance of the County of Orange passed pursuant thereto, are operative. If the Congress of the United States imposes a tax on transfers of real property after January 1, 1968 this chapter shall have no operative effect on and after the first day of the fiscal year which follows the date such Federal tax is imposed.
(Ord. 1741 § 3 (part), 1971; Ord. 1512 § 1 (part), 1967).