Any tax imposed pursuant to the provisions of this chapter shall not apply to any deed, instrument or writing by which realty is conveyed by the State of California, any political subdivision thereof, or agency or instrumentality of either thereof, pursuant to an agreement whereby the purchaser agrees to immediately reconvey the realty to the exempt agency.
(California Revenue and Taxation Code § 11928) (§ 7, Ord. 1250-NS, eff. January 9, 1996, as renumbered by § 10, Ord. 1374-NS, eff. April 26, 2001)