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(a) The exemption hereinbefore authorized shall be upon the property exempted and shall not terminate upon the sale or exchange of the property.
(b) The cost of improvements to be exempted in the schedule of taxes exempted existing at the time of the initial request for tax exemption shall be applicable to that exemption request, and subsequent amendments to this chapter, if any, shall not apply to requests initiated prior to the adoption of such an amendment.
(Ord. 5-79. Passed 2-28-79.)