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0 0 Industrial District Agreement - 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. 729, designating portions of the area located in its extraterritorial jurisdiction as the "Battleground Industrial District of La Porte, Texas," and Ordinance No. 842, designating portions of the area located in its extraterritorial jurisdiction as the "Bayport Indus- trial District of La Porte, Texas," hereinafter collectively called "District," such Ordinances being in compliance with the Municipal Annexation Act of Texas, Article 970a, Vernons Annotated Revised Civil Statutes of Texas; 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 Resolution adopted by the City Commission 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 Ordi- nances of City referred to above, City and Company hereby agree 'with each other as follows: I. City covenants, agrees and guarantees that during the term of this Agreement, provided below, and subject to the terms and provi- sions of this Agreement, 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