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O-2006-2955
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O-2006-2955
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Last modified
7/5/2019 4:37:31 PM
Creation date
5/7/2008 3:52:17 PM
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Legislative Records
Legislative Type
Ordinance
Date
11/6/2006
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comprising the Reinvestment Zone. The Chief Appraiser shall record both the abated <br />value and the full taxable value in the appraisal records. The full exemption value listed <br />in the HCAD records shall be used to compute the amount of abated taxes that are <br />required to be recaptured and paid in the event this Agreement is terminated in a manner <br />that results in recapture. Each year, the Lessor and/or Lessee shall furnish the HCAD <br />Chief Appraiser with such information outlined in Chapter 22, TEXAS TAX CODE, as may <br />be necessary for the administration of the tax abatement specified herein. <br />If the County terminates this Agreement, it shall provide the Lessor and/or Lessee <br />with written notice of such termination. If the Lessor and/or Lessee believe that such <br />termination was improper, the Lessor and Lessee may file suit in the Harris County <br />District Courts appealing such termination within sixty (60) days after receipt from the <br />County of written notice of termination. If a suit is filed, the Lessor and Lessee shall <br />remit to the County, and other political subdivisions who are parties to this Agreement, <br />within sixty (60) days after receipt of the notice of termination, any additional and/or <br />recaptured taxes as may be payable during the pendency of the litigation pursuant to the <br />payment provisions of TEX. TAX CODE ANN. § 42.08. If the final determination of the <br />appeal increases the Lessor's and Lessee's tax liability above the amount of tax paid, the <br />Lessor and Lessee shall remit the additional tax to the County and other political <br />subdivisions that are parties to this Agreement, pursuant to TEX. TAX CODE ANN. § 42.42. <br />If the final determination of the appeal decreases tax liability of the Lessor and Lessee, <br />the County and other political subdivisions that are parties to this Agreement shall refund <br />the difference between the amount of tax paid and the amount of tax for which the Lessor <br />and Lessee is liable pursuant to TEX. TAX CODE ANN. § 42.43. <br />IX. ASSIGNMENT <br />The Lessor and Lessee may assign this Agreement to a new owner of the facility <br />with the written consent of the Commissioners Court, which consent shall not be <br />unreasonably withheld. Any assignment shall provide that the assignee shall irrevocably <br />and unconditionally assume all the duties and obligations of the assignor upon the same <br />terms and conditions as set out in this Agreement. Any assignment of this Agreement <br />shall be to an entity that contemplates the same improvements to the property, except to <br />the extent such improvements have been completed. No assignment shall be approved if <br />the Lessor, Lessee or assignee is indebted to the County, or the other political subdivision <br />that are parties to this Agreement, for ad valorem taxes or other obligations. <br />X. RENDITION <br />This Agreement is specifically conditioned upon the Lessor and Lessee <br />complying with TEX. TAX CODE ANN. § 22.01, as amended, requiring an annual rendition <br />of all personal property with HCAD. <br />
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