O-2007-2991 - Laserfiche WebLink

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1) Render information related to FTZ Inventory owned by it and located at the Complex as required by the TEXAS PROPERTY TAX CODE to Harris County Appraisal District ("HCAD"), without regard to and without identifying FTZ Inventory as subject to or eligible for the federal exemption in 19 U.S.C. s810(e), and provide a copy to the City. 2) On or before December 1 sl of each year, during the term of this Agreement (and/or August 1 sl in cases where Company has elected a September 1 sl valuation date for taxation purposes pursuant to TEX. TAX CODE SECTION 23.12(f), Company agrees to certify to the City that it will claim the exemption in 19 D.S.C. s810(e) as it relates to the FTZ Inventory owned by Company, if any, with respect to ad valorem taxes payable to the City on such FTZ Inventory, only at the percentage rate agreed to under Paragraph C of this agreement. 2. Immediately upon execution of this Agreement, the City shall issue a letter of non-objection in substantially the form attached as Exhibit B, which is to be filed as part of the Company's Application to Expand Foreign Trade Zone No. 84 to encompass the Complex 3. Company agrees that this Agreement is necessary for the Expansion of the Foreign Trade Zone No. 84 to include the Complex, and such expansion is in the best interest of the community. Therefore, a violation by Company of this Agreement or a determination of its invalidity would justify a reversal of such expanSIOn. D. Miscellaneous Provisions 1. Governing Law. This Agreement will be interpreted under the laws of the State of Texas. 2. Binding Effect. This Agreement shall extend to and be binding upon and inure to the benefit of the parties hereto, and their respective legal representatives, successors and assigns. It is agreed that City Taxing Jurisdiction is a beneficiary of this Agreement and shall be entitled to enforce its terms and seek damages for its breach. 3. Entire Agreement. This Agreement supersedes any prior understanding or oral agreements between the parties with respect to the subject matter hereof and constitutes the entire understanding and agreement between the parties with respect to the subject matter hereof, and there are no agreements, understandings, restrictions, representations or warranties among the parties with respect to the subject matter hereof other than those set forth herein or provided for herein.