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<br />e <br /> <br />e <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: <br /> <br /> <br />Appropriation <br /> <br />Requested By: <br /> <br />Source of Funds: <br /> <br />N/A <br /> <br />Department: Figaate <br /> <br />Account Number: N/A <br /> <br />Report: <br /> <br />Resolution: XX Ordinance: <br /> <br />Amount Budgeted: N/A <br /> <br />Exhibits: <br /> <br />HCAD Letter <br /> <br />Amount Requested: NIl\. <br /> <br />Exhibits: <br /> <br />Resolution <br /> <br />Budgeted Item: YES ~Q <br /> <br />Exhibits <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Section 6.051, of the Texas Property Tax Code, provides that the acquisition of real property by an appraisal district <br />must be approved by the governing bodies of three-fourths of the taxing units entitled to vote on the appointment of <br />board members. An entity that fails to indicate approval is considered to be a no vote. The law contains a strict time <br />frame in which taxing unit approval can occur, and must take place within 30 days after the appraisal board of <br />directors fonnally approves the proposal. Harris County Appraisal District formally approved the proposal on <br />October 15, 2003, and is now asking that the City of La Porte approve the resolution to authorize them to purchase <br />an office building located at 13013 Northwest Freeway, Houston, Texas. <br /> <br />This proposal is for a lease-purchase of a building located at 13013 Northwest Freeway, which can be purchased at <br />the end of the lease for $100. This move will save approximately $500,000 annually, which will reflect in the City <br />of La Porte's pro-rate share of their budget. <br /> <br />Action Required bv Council: <br />Approve resolution authorizing the purchase of an office building by Harris County Appraisal District <br /> <br />Approved for City Council Aeenda <br /> <br /> <br />/I-t-d 3 <br /> <br />Date <br />