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Orange County Board of Commissioners <br /> Page Two <br /> April 10, 1987 <br /> and equitable manner" clause of Article V, Section 2 (1) <br /> would probably not permit this exemption. <br /> I likewise have reservations about the exemption <br /> of the first $50,000 or any other amount of <br /> consideration from the tax, given the purpose of the <br /> tax. I need more time to think about this and to <br /> research its effect. I have structured the exemption <br /> as an election so that the bill itself does not create <br /> a potential problem. <br /> Also enclosed is a document captioned DISTRIBUTION <br /> ALTERNATIVES which can be the basis for the Board's <br /> election in that regard. When the election is made the <br /> elected paragraph (f) will be inserted. Finally, <br /> enclosed is a draft resolution which can be transmitted <br /> with the bill to the County's legislative delegation. <br /> Very truly yours, <br /> x I. <br /> r <br /> Ca W <br /> -off ey Gled.• ill <br /> GEG/lsg <br /> Enclosures \ <br /> 2 xc: Ken Thompson V <br /> 8 <br />