O-1991-1790 - Laserfiche WebLink

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e . -2- upon which tract(s) Company has either constructed an industrial plant(s) or contemplates the construction of an industrial plant(s); and WHEREAS, pursuant to its policy, City has enacted Ordinance No. ____, designating a portion of the area located in its extraterritorial jurisdiction as the "South La Porte Industrial District," hereinafter called "District," such Ordinance being in compliance with Section 42.044 of the Texas Local Government Code; and WHEREAS, City desires to encourage the expansion and growth of industrial plants within said District and for such purpose desires to enter into this Agreement with Company pursuant to Ordinance adopted by the City Council of said City and recorded in the official minutes of said City: NOW, THEREFORE, in consideration of the premises and the mutual agreements of the parties contained herein and pursuant to the authority granted under the Municipal Annexation Act and the Ordinances of City referred to above, City and Company hereby agree with each other as follows: I. A. City covenants, agrees and guarantees that during the term of this Agreement, provided below, and subject to the terms and provisions of this ~greement, said District shall continue and retain its extraterritorial status as an industrial district, at least to the extent that the same covers the land described above and belonging to Company and its assigns, and unless and until the status of said land, or a portion or portions thereof, as an industrial district may be changed pursuant to the terms of this Agreement. Subject to the foregoing and to the later provisions of this Agreement, City does further covenant, agree and guarantee that such industrial district, to the extent that it covers said land lying within said District and not now within the corporate limits of City, or to be disannexed from the corporate limits of City, shall be immune from annexation by City during the term hereof