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<br />. <br /> <br />. <br /> <br />"LPISD" is defined in Section I of this Agreement and includes its successors and assigns. <br /> <br />"LPISD Tax Increment Participation II means the amount of the LPISD tax levy on the <br /> <br />Captured Appraised Value which LPISD agrees to contribute to the La Porte Zone pursuant to <br /> <br />Subsections A, B and C of Section IV of this Agreement. <br /> <br />"Project Costs" means the costs identified as "project costs" in the Project Plan for the La Porte <br /> <br />Zone. <br /> <br />"Project Plan II means the project plan and the reinvestment zone financing plan for the La Porte <br /> <br />Zone adopted by the board of directors of the La Porte Zone and approved by the City Council of the <br />City on August 23. 1999, by Ordinance No. 2352, and as may be further amended from time to time. <br />"Tax Increment Fund" means the tax increment fund created by the City for the La Porte Zone. <br />Otherwise, the terms used herein shall have the meanings ascribed to them in Chapter 311, <br />Texas Tax Code, or the Texas Education Code, as applicable. <br />m. BACKGROUND <br />By Ordinance No. 99-2325, adopted May 24, 1999. the City created the La Porte Zone for the <br />purposes of development and redevelopment in the La Porte Area. The Board of Directors of the La <br />Porte Zone adopted a project plan and reinvestment zone financing plan, which was approved by the <br />City on August 23, 1999, by City of La Porte Ordinance No. 2352. The City currently contributes tax <br />increments produced in the La Porte Zone to the Tax Increment Fund. LPISD desires to participate in <br />the La Porte Zone in consideration for the agreements set forth below. <br />LPISD hereby acknowledges receipt of notice of the initial creation of the La Porte Zone prior <br />to May 31, 1999. <br /> <br />AMJ\176718.1\INTERLOCAL AGRMnLPISD\3668.4 <br />