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NO. 2007-IDA-~~ <br />F <br />STATE OF TEXAS ' <br />COUNTY OF HARRIS ' <br />~®rt~ 1~~~ ~~fCe <br />INDUSTRIAL DISTRICT AGREEMENT <br />This AGREEMENT made and entered into by and between the CITY <br />OF LA PORTE, TEXAS, a municipal corporation of Harris County, <br />Texas, hereinafter called "CITY", and AKZO NOBEL CHEMICALS INC., a <br />Delaware corporation and AKZO NOBEL POLYMER CHEMICALS LLC, a <br />Delaware corporation hereinafter jointly called "COMPANY", <br />W I T N E S S E T H: <br />WHEREAS, it is the established policy of the City Council of <br />the City of La Porte, Texas, to adopt such reasonable measures <br />from time to .time as are permitted by law and which will tend to <br />enhance the economic stability and growth of the City and its <br />environs by attracting the location of new and the expansion of <br />existing industries therein, and such policy is hereby reaffirmed <br />and adopted by this City Council as being in the best interest of <br />the City and its citizens; and <br />WHEREAS, pursuant to its policy, City has enacted Ordinance <br />No. 729, designating portions of the area located in its <br />extraterritorial jurisdiction as the "Battleground Industrial <br />District of La Porte, Texas", and Ordinance No. 842A, designating <br />portions of the area located in its extraterritorial jurisdiction <br />as the "Bayport Industrial District of La Porte, Texas", <br />hereinafter collectively called "District", such Ordinances being <br />in compliance with the Municipal Annexation Act of Texas, codified <br />as Section 42.044, Texas Local Government Code; and <br />WHEREAS, AKZO NOBEL CHEMICALS INC. is the owner of land and <br />its subsidiary, AKZO NOBEL POLYMER CHEMCCALS LLC, is the lessee <br />and operator within a designated Industrial District of the City <br />of La Porte, said land being legally described on the attached <br />Exhibit "A" (hereinafter "Land"}; and said Land being more <br />particularly shown on a plat attached as Exhibit "B", which plat <br />describes the ownership boundary lines; a site layout, showing all <br />improvements, including pipelines and railroads, and also showing <br />areas of the Land previously annexed by the City of La Porte; and <br />WHEREAS, City desires to encourage the expansion and growth <br />of industrial plants within said Districts and for such purpose <br />desires to enter into this Agreement with Company pursuant to <br />Ordinance adopted by the City Council of said City and recorded in <br />the official minutes of said City: <br />FINAL DRAFT: November 1., 2007 <br />1 <br />