Laserfiche WebLink
<br />". <br /> <br />e <br /> <br />e <br /> <br />Industrial District Agreement - 6 <br /> <br />IV. <br /> <br />This Agreement may be extended for an additional period or <br /> <br />period~, ~y agreement between City and Company and/or its assigns even <br /> <br />thougl) it is not extended by agreement between City and all of the <br />~. . . I'.... . . .. <br /> <br />~~n~.rs of all land wi thin the District of which it is a part. In <br />.~.... l:..!~E-..~ '.#I,,~\..':..:':":; t"'.~' :J_.. "i..tl'=", to': .:..)..:~.: :''''~''.II.',' '.,::~':."'.::.' :;.~.:.:. <br /> <br />.~his co~nect~on, <br /> <br />Ci ty, )lereby <br /> <br />e':Cpresses its <br /> <br />belief that industrial <br /> <br />. .. - " <br />. .. .. .. <br /> <br />distri~t i;lgree,ments of ~he kind mad!=! her~in ~re conducive to the <br />'..::~""eJ..-"'-'" ~.~- .:..::'... ~.~:'Il'::'.~: -.:: r")~"....::, ~'::<"'. .... \. .)" .". . ," :.. . ':..!'..:f' ~ :-... <br /> <br />development of existing and future industry and are to .the best <br /> <br />interest of all citizens of City and encourage future City Councils <br />to enter into future' industrial district agreements and to extend for <br />~dditiona~'periods'permitt~d by 'law tnls Industrial District Agree~ent <br />upon'request' of :"Company' 'or' ,its assi9ns7 'provided, however, that <br />nothing' herein contained shall be ,deemed to' obligate' either party <br /> <br />h~reto: to agree t'o :iin "'extension of t'hls' Agrement /," <br /> <br />; (" j ";,:,: "<..-" <br /> <br />. V. <br /> <br />, . - <br />::"-"compiny:"''.a'gre'e's' to '''pay'' 'all ad valorem- :ta'xefr,' and' 'atl "in lieu <br /> <br />of taxes", payments -. hereunder, to City 'on" or" before December 31, o,f <br /> <br />each yea'r' during the term hereof. <br /> <br />It is' agreed that presently' the <br /> <br />ratio of ad valorem tax assessment used by City is one hundred percent <br /> <br />(100%) of the" fair' market value of property. <br /> <br />Any change' in, such <br /> <br />, <br />. . .. ,'.' <br />ratio used by City shall be reflected 'in any subsequent computations <br />hereunder. ~'This Agreement shall be 'subject to all provisions-of' law <br />reiating' to'.:aet~'rrnin~t:ibri')ofi:vatueiof' land, improvements {and' tangib~U! <br />personal-- property; for tax purposes '.. .(e.g., 'rendition, assessment, <br />Harris County Appraisal District review and appeal procedures, court <br /> <br />, , <br />appeats", ::et.c. ') for: purposes of fixing' and' determining the amount or <br /> <br />ad '~aibrem" 't.ax paYments, and the 'amount of "in lieu of tax " payments <br /> <br />hereunder, except as otherwise provided in Articles II and VI hereof. <br /> <br />VI. <br /> <br />,"-,.,;'; (A)'" -- - In t.he' event Company elects to protest the valuation for <br /> <br />tax purposes set on its said properties by City or by the Harris <br />