Ord. 1999-2353 - interlocal w/LPISD for TIRZ #1

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. . Increment Fund, and that LPISD and the City will negotiate use agreements for such use. LPISD will allow the City to use, at no cost to the City other than proportionate utility, maintenance and building personnel costs of LPISD. ball fields, tennis courts and other outdoor recreational areas, indoor recreational areas, lunchrooms. and other assembly areas of the Educational Facilities constructed with or financed by monies from the Tax Increment Fund for municipal recreational and meeting purposes, at all reasonable times to be agreed to by the City and LPISD that LPISD is not conducting school or other related activities at the facilities. ,LPISD shall identify annually for the City and the La Porte Zone those Educational Facilities that are required. constructed or reconstructed or financed with monies from any City Reinvestment Zone created pursuant to Chapter 311 of the Texas Tax Code. E. Changes in Applicable Laws Notwithstanding any other provision of this Agreement. in the event and to the extent that Texas law applicable to LPISD or tax increment reinvestment zones is changed subsequent to the effective date of this Agreement, or there is any interpretation, ruling, order. decree or court decision interpreting existing or subsequently enacted law applicable to LPISD or tax increment reinvestment zones, whether administratively by the Texas Education Agency, the Comptroller of Public Accounts of the State of Texas, the Attorney General of the State of Texas, or by a court of competent jurisdiction, with the result that the participation of LPISD in the La Porte Zone decreases the aggregate amount of the state and local funds available to or received in any school year by LPISD during the term of this Agreement that would otherwise be available to or received by ~ISD in such school year if LPISD was not participating in the La Porte Zone during that year. as determined by LPISD subject to the review by the City as to the accuracy of the calculations, LPISD's Tax Increment Participation shall, at the option of LPISD. be reduced in an amount equal to the amount of the AMJ\176718,I\INTERLOCAL AORMT\LPISD\3668.4