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2000-IDA-68-A
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2000-IDA-68-A
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6/20/2007 11:56:56 AM
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12/28/2022 10:15:48 AM
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La Porte TX
Document Type
Ordinances
Date
1/23/2006
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<br />~Jv-3a-2JaG 03:Z8p~ <br /> <br />From-r\S~INS e.ISTROflG, PC <br /> <br />281 m 2047 <br /> <br />e <br /> <br />T-96B <br /> <br />P,0081o18 <br /> <br />H65 <br /> <br />foregoing provisions of this Agreement on the basis of renditions <br />which shall be filed by Company. <br /> <br />When the city or Burris county Appraisal District (as the case may <br />bel valuatio.u on said property of Comp,3ny hCls been so finally <br />determined, ei.tber as the result of final judgment of a court of <br />"Competent jurisdiction or as the :result of othe:!:' final conclusion <br />of the controversy, then within thirty (30) days thereafter Company <br />shall tni:l.ke payment to City of any additional payment due hereunder <br />based on such final valuation, together with applicablepenalt.ies, <br />interest.s, and costs. <br /> <br />B. Should ComP":lny disagr.ee with any appraisal mad{;.: by the <br />independent appra~ser selecled by City pursuant. t.o Article II above <br />(which sball be given in writing to Company). Company shall. within <br />twenty (20) days of receiving such copy, give \>lritten notice to the <br />ciLyof such disagreement. In the event Company does not give such <br />'N'ritten noc.ice of disagreement within such time period, the <br />,;Ipp:r:'aisal made by $aid independent apprai.ser shall be final and <br />controlling for purposes of the dete1:1l1inal:ion of "in lieu of t.axes" <br />pclyrnents to be made under this Agreement:. <br /> <br />Should Company give such notice of disagreement, Company shall also <br />submit to the City with such notice a written statement. setting <br />forth '""hat Company believes to be the market value of Company's <br />hereinabcve described property. Both parties agree to thereupon <br />enter into good faith negotiations in an attempt to reach an <br />a;greemcnt as to the market value of Company's propel.-ty for "in <br />lieu" purposes hereunder. If, after the expiration of thirty (30 1 <br />days from the date the notice of disagreement was received by City, <br />the parties have not reached agreement os to such market value, the <br />parties agree to su.bmit the dispute to fL"Jal arbitration as <br />p:r.ovided in GubpL.J.ragraph 1 of this Article VI B. Notwithst.anding <br />any such disagreement by Company, Company agrees to pay to Ci,ty on <br />or before December 31 of each year during the term hereof. at. least <br />the total of (a) the Cl.d valorem taxes on the annexed, portions, plus <br />(0) the total amount of the "in lieu" payments which would be due <br />hereu'f)der on the b,;u:;is of Compa.ny's valuiltions rendered and/or <br />submitted to city by Company hereunder, or the total assessment and <br />11 in 1 ieu of ta..,<es If thereon for the la r:t p:r.eceding year, '.lhicheve:r <br />:is higher. <br /> <br />1. A Board of Arbitrators s~'lall be creatE.:d composed of one <br />person named by Company, one by city, and a third to be <br />named by those two. In case of ho agreement on this <br />arbitrator in 10 days. the pa.rtieG will join in a wriLt.en <br />request that t.he Chief Judge of the U.S. District Court <br />for the Southern District of Texas appoint the third <br />arbitrator '...,ho. (as the "Impartial Arbitrator") shall <br />preside over the arbitration proceeding. The sole issue <br />to be deterl'nincd in th~ arbitration shall be resolution <br />of the difference between the parties ClS to the fair <br />market value of Corr:pany's property for calcu~ation of the <br />,t in .I.:i.eu Q payment and tota 1 payment hereunder for the <br />year i.n question. The ,Roa'rd shall hear and cons ider all <br />rel~v,:l!lt and material evidence on that issue including <br /> <br />6 <br />
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