O-2020-IDA-112 Dana Tank Conatiner, INC.

Browse Search

(excluding amounts which would be so payable with respect to any Substantial Increase in value of 'such_ tangible personal property to which subparagraph 2, above applies), had been within the corporate limits of City. -and appraised each year by the City' s independent appraiser, in .accordance with the applicable provisions of the Texas Property Tax Code. with the sum of 1, 2, and 3 reduced by the amount of City's ad valorem takes on the. annexed ,portion thereof as determired by appraisal by the Harris County Appraisal District,. 4. Notwithstanding the: above, should City elect to grant the freepost inventory exemptions authorized by Article VTII., Section l-j of the Texas constitution- and Section Zl_.'25l of the Texas Property Tax Code to taxpayers within the City limits, then the Freeport inventory exemption shall apply to parties to this Agreement. Further, should inventory or any other, class or type of property become exempt from taxation by constitutional amendment or act of the Texas Legislature (including, but not limited to, Article VIII, Section- i-n, of the Texas Constitution and Section 1-1.253 of the Texas Property Tax Code), such class or type of property shall be exempt for purposes of this Agreement., unless the City Council of the. City of La Porte shall by Ordinance provide: for the continued taxation of such property under the authority of any applicable Provisions of the Texas Constitution and Texas Statutes-.. 5. City and Company acknowledge circumstances might require the City to provide emergency services to Company's Property described on Exhibit "A" attached hereto. Emergency services are limited to fire, police, and public: works emergency services. if Company is not a member of Channel industries Mutual Aid Association (CIMA), Company agrees- to reimburse City, for its costs arising out of any emergency response_ requested by Company to Company's property, and to which. City agrees to respond: If Company is a member of CIMA, the obligations of Company and City shall be governed by the CIMA agreement, to which agreement City is a party. IV. This Agreement shall extend for a.period beginning on the 1st day of January, 2020, and continuing thereafter until December 31, 2031, unless :extended for An additional; period or periods of time upon mutual consent of Company and :City; as provided by the Municipal Annexation Act; provided, however, that in the event this Agreement is not so extended for an additional period or periods of time on or before August 31, 2031, the agreement of City, not to annex property of Company within:, the District shall. terminate. 'in that event, City shall. have the right to commence 6