1964-12-28 Special Meeting - Laserfiche WebLink

Browse Search

•. -4- • 263 provided, the total amount which would be due by Humble to City in accordance with the provisions of this agreement on the basis of value specified in rendition filed by Humble with City with respect to said property for that year. At such time as the protested valuation of such property of Humble has been finally determined, either as the result of final judgment of a court of competent jurisdiction or as the result of other final conclusion of the valu- ation,then within thirty (30) days thereafter, Humble shall make payment to City of any additional amount that may be due hereunder, • based upon such final valuation. V This agreement shall extend for a term of seven (7) years from and after the date hereof, unless extended for an additional period or periods of time as provided by the Texas Municipal Annexa- tion Act, upon mutual consent of the parties hereto. In this con- nection, City hereby expresses its bell that such industrial dis- trict agreements of the kind contained herein are conducive to the development of existing and future industry, and to the best inter- est of all citizens of the City, and City does hereby encourage future City Commissions to enter into future industrial agreements and to extend for additional periods permitted by law, this indus- • trial district agreement upon the request of Humble, its successors or assigns. VI This agreement shall inure to the benefit of and be binding upon City and Humble, and upon Rumble's successors and assigns, and shall remain in force whether Humble sells, assigns, or in any other manner, disposes of all or any part of the property • belonging to Humble within the District; provided, however, that p••'