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<br />OCl-l J-cUUU ~ l< 1 U 1 : U4 t'il <br /> <br />t'HJ<. NU, <br /> <br />j, Uq <br /> <br />., , <br /> <br />Nothing herein contained shall ever be interpreted as lessening the <br />authority of the Harris County Appraisal District to establish the <br />appraised value of Land, improvements, and tangible personal <br />property in the annexed portion, for ad valorem tax purposes. <br /> <br />III. <br /> <br />A. On or before April 15, 2001, and on or before each April 15th <br />thereafter, unless an extension is granted in accordance with the <br />Texas Property Tax Code, through and including April 15, 2007, <br />Company shall provide city with a written description of its Land <br />and all improvements and tangible personal property located on the <br />Land as of the immediately preceding January 1st, stating its <br />opinion of the Property's market value, and being sworn to by an <br />authorized officer of the Company authorized to do so, or Company's <br />duly authorized agent, (the Company's IIRendition"). company may <br />file such Rendition on a Harris County ApPFaisal District rendition <br />form, or similar form. The properties which the Company must <br />render and upon which the "in lieu ofll taxes are assessed are more <br />fully described in subsections 1, 2, and 3 of subsection D, of this <br />paragraph III (sometimes collectively called the "Property"); <br />provided, however, pollution control equipment installed on the <br />Land which is exempt from ad valorem taxation pursuant to the <br />provisions of Sec. 11.31 of the Texas Property Tax Code is exempt <br />from ad valorem taxation and "in lieu of taxes" hereunder. A <br />failure by Company to file a Rendition as provided for in this <br />paragraph, shall constitute a waiver by company for the current tax <br />year, of all rights of protest and appeal under the terms of this <br />Agreement. <br /> <br />B. As part of its rendition, Company shall furnish to city a <br />written report of the names and addresses of all persons and <br />entities who store any tangible personal property on the Land by <br />bailment, lease, consignment, or other arrangement with Company <br />("products in storage"), and are in the possessi~n or under the <br />management of Company on January 1st of each Value Year, further <br />giving a description of such products in storage. <br /> <br />C. On or before the later of December 31, 2001, or 30 days from <br />mailing of tax bill and in like manner on or before each December <br />31st thereafter, through and inclUding December 31, 2007, Company <br />shall pay to City an amount lIin lieu of" taxes" on company's <br />Property as of January 1st of the current calendar year ("Value <br />Year") . <br /> <br />D. Company agrees to render to ci't:y and pay an amount "in lieu of <br />taxes" on Company's Land, improvements and tangible personal <br />property in the unannexed area equal to the sum of: <br /> <br />1. Fifty-three percent (53%) of the amount of ad valorem <br />taxes which would be payable to City" if all of the <br />company's Land and improvements which existed on January <br />1, 2001, and each January 1 thereafter of the applicable <br />Value Year during the term of this Agreement, (excluding <br />amounts payable pursuant to subparagraph 2, below), had <br />been within the corporate limits of city and appraised <br /> <br />3 <br />