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<br />. <br /> <br />.. <br /> <br />e <br /> <br />~ <br /> <br />WHEREAS, the City may later establish a Public Improvement District(s) to finance the <br />construction of certain other public improvements to serve the Zone pursuant .to Chapter 372, <br />TEXAS LOCAL GOVERNMENT CODE (the "PID Act") and pursuant to an approved Service and <br />Assessment Plan approved by City; and <br /> <br />WHEREAS, if a PID is esta~lished within the Zone, the City and the Zone may desire to <br />contract with the Authority to provide the assistance described in this Agreement during the term of <br />the Zone, and to finance the efforts of the Authority using PID assessments as provided herein; <br /> <br />NOW, THEREFORE, for and in consideration of the premises and the mutual covenants <br />and agreements herein contained, the City, the Zone and the Authority agree as follows: <br /> <br />I. <br />DEFINITIONS <br /> <br />Definitions. The te~s "Agreement," "Authority," "City," ','Zone Board," and "rri-Party <br />Agreement," and "PID Acf' have the meanings set forth in the preamble hereof, and the following <br />capitalized terms shall have the meanings provided bel.ow, unless otherwise defmed or the context <br />clearly requires otherwise. For purposes of this Agreement the words "shall" and "will" are <br />mandatory, and the word "may" is permissive. <br /> <br />"Agreemenf' shall mean this Agreement and all attachments hereto, between the City, the <br />Zone and the Authority. <br /> <br />"Appraisal Districf' shall mean the Harris County Appraisal District. <br /> <br />. "Authority Obligations" shall mean the notes or other contractual obligations that the <br />Authority may incur from time to time with a Developer pursuant to Article III hereof and includes <br />without .limitation Development Agreements. <br /> <br />"Bonds" shall mean TIRZ Bonds and/or PID Bonds, as applicable. <br /> <br />"Captured Appraised Va/ue" shall mean the total appraised value of property in the Zone as <br />of January 1 of any year less the Tax Increment Base of the Zone, all as defined in the TIRZ Act. <br /> <br />"City" is defined in the recitals hereto. . <br /> <br />"City Councif' shall mean the City Council of the City. <br /> <br />"City Manager" shall mean the city manager of the City, or such person as he or she shall <br />designate. <br /> <br />"County" shall mean Harris County, Texas. <br /> <br />Housloo:367966.2 <br /> <br />2 <br />