Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />valuation on the Captured Appraised Value, and interest earned thereon, shall be applied to the <br />payment of non-educational facilities Project Costs. including Administrative Costs and School <br />Support Expenses. The remaining portion of the LPISD Tax Increment Participatiofl, and interest <br />earned thereon, shall be paid to LPISD by the City, the La Porte Zone or the La Porte Redevelopment <br />Authority on an annual basis to be used by LPISD for Educational Facilities Project Costs, within the <br />La Porte Zone or the City. <br />All funds paid to LPISD pursuant to this Section V.C. shall come from the La Porte Zone <br />LPISD Tax Increment Participation. Neither the City nor the La Porte Zone shall ever be obligated to <br />set aside for or pay to LPISD any funds other than LPISD's portion of funds derived from the La Porte <br />Zone, nor shall the City or the La Porte Zone ever be obligated to expend any funds other than funds <br />made available by LPISD after payment pursuant to this Section V.C. to finance, acquire. construct or <br />reconstruct any Educational Facilities Projects Costs. <br />D. Control of Educational Facilities <br />The parties agree that all decisions regarding location, acquisition, construction, reconstruction <br />and educational content ofLPISD educational facilities in or to serve the La Porte Zone will be in the <br />controlofLPISD. Nothing in this subsection shall be construed to relieve LPISD of the obligation to <br />comply with all City ordinances and regulations applicable to the construction and operation of any <br />educational facility by or on behalf ofLPISD. <br /> <br />AMl\I 1611 8. 1\IN'ffiRLOCAL AGRMT\LPISD\3668,4 <br />