O-2020-IDA-122 Duke Realty, LP - Laserfiche WebLink

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ar (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 Ci y'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 Cit s ad valorem-:: takes on ::the* "::annexed :portion thereof ::as determined:- by appraisal by the:Harris County::Appraisal District .......... :.::Notwithstanding the above,:: should. City electto grant ;the freeport ._inventory exemption auth6rized byArticle _. VIIi : S:ection 1.=j:, of the Texas :Constitution. _arid Section 11 251 :.of the . Texas Property Tax Code :: o.;: taxpayers .. within the ,City liints., `then the freeport inventory ::exemptzon..shall appl'.:to parties..to` this Agreement.. Fuirther should. inventory or any :other . class: or , type of . property become .-exempt from. .taxat. on by . cons;titutional ;: amendment _or:;:act of :the Texas Legislature (including, but . riot, 'limited.. to.,:.. Art -idle. VIII., ..Section Texas:: Cons titut. ion ::: and Section.: 11. 253 : of :::the Texas Property:. Tax.... Code:) such... class or type of pro ert P y :: .:.::shall be: exempt for purposes of this :Agreement, unless 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` provi ions ,of the Texas Constitution and Texas Statutes., :.:. . 5.! City.:' and Company acknowledge circumstances... might,:: require the :City. to provide emergency services: to Com any's pro ert described on:: Exhibit - "A'•'.. attached' P,- , P . . hereto:.: Emergency services:: : are limited::: to fire,..: - p:ol'ice, and ::::public works emergency:::: services.:*,,:::: If .. :.Company is not a member of Channel Industries Mutual . .. ::_ Aid Association (:LIMA), Company: agrees to reimburse City :for its costs. arising::: out of any. ': emergency' response',' requested by „Company to. Company's property, . :.and to which.. Ci y agrees:: respond.. ::If Company ::is a member: of LIMA, the obligations of Company and City shall ::be governed: by. .the..CIMA. agreement;,::to which P. :agreement City is a ps.rty. ... IV. ..... .. This :Agreement shall extend fora period beginning on the: 1st..day of. .jai ary,. .202.0.,. and 'continuing thereafter until.. December 31,. 2031' unless: extended for: an::additional:::period or periods of time; upon mutual consent ..,ot. Company and City; :. as ...provided ..by..: the ' Municipal .:.Annexation Act; provided.;::" however:, t4at in the event this Agreement . i s ' no.t` so extended 'for an: additional _;.period or periods of tzme.:on or before:: August 31, :2031, the -:agreement of City pot -:to annex: property of :Company within -the -District -shall terminate:.::: In that .event, City shall have :the : right to commence :.