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• <br />• <br />• <br />the amount of taxes thus resulting on its annexed <br />property for that year; provided, however, that if the <br />total amount of taxes to be paid the City by all of the <br />Industries collectively as determined by the use of <br />said f ormuia shall exceed the sum of One Hundred Twe7ty- <br />five Thousand Dollars ($125,000) in any year, then for <br />that year the valuation of the annexed property of each <br />of the Industries shall be in an amount which will yield <br />to the City at the then current City tax rate that In- <br /> dustry's proportionate part of the sum of $125:000 in <br />• the ratio tYiat the Harris County ad valorem tax valua- <br /> tion of the property of such Industry in the area for <br /> that year bears to the total Harris County ad valorem <br /> tax valuation of the properties of all of said Indus- <br /> tries within the area. <br /> 2. The annual tax payment of each Industry to <br /> the City hereunder shall be in two installments, the <br /> first of which shall be made by such Industry on or <br /> before January 15 in each year in an amount not less <br /> than cne-half of the taxes which would be paid by that <br />' Industry to the City calculated on its Harris County <br /> ad valorem tax valuation of its property in the area <br /> for the preceding year. The second installment shall <br /> be paid by each Industry on or before September 1 in <br /> each year unless Harris County has not then made final <br /> its assessment on the properties of:~such Industry in <br /> the area for that year, in which event the second in- <br /> stallment shall be paid within thirty days after such <br /> assessment has been made final. Such second install- <br /> ment to be paid by each Industry shall be in an amount <br /> equal to the balance of taxes remaining due by it to <br /> <br /> the City for~that year when calculated on the basis of <br />-~- <br />