1969-01-06 Regular Meeting - Laserfiche WebLink

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• INDUSTRIAL AGREEMENT, Page 4. result of other final conclusion of the controversy, then within thirty (30) days thereafter Company shall make payment to City of any additional payment due hereunder based on such final valuation. Even though Company does protest the valuation set on its said properties by Harris County, Company will pay to City on or before the time therefor hereinabove provided the total amount of the payment in lieu of taxes which would be due by Company to City in accordance with the foregoing provisions of this paragraph (2) on the basis of renditions filed by Com- pany with the Tax Assessor of Harris County for that year. Should the City Commission, by resolution duly adopted by a majority of its members within thirty (30) days after the ad valorem tax assessment on Company's said property within the District is fixed by Harris County for any year during the term hereof, determine that such assessment is more than twenty percent (20~) less than the assessment for that year by Harris County of comparable properties within the District, the City may question Company's said assessment for the purpose of this agreement by so notifying Company in writing. Such written notice shall be given Company within six (6) days after the adoption of such resolution by registered United States mail addressed to Company at P.O. Box 685, La Porte, Texas, and the same shall be accompanied by a true copy of such resolution. Zf Company and City then do not agree on an assessment, City • may within three (3) months after the delivery of such notice petition the District Court of Harris County for a declaratory judgment to be tried as other civil causes in which City must establish by a preponderance of the evidence that the assessment of Company's said property for that year is in fact more than twenty percent (20$) less than the assessment by Harris County for that same year of comparable properties. If final judgment is entered in any such suit declaring Company's said assessment to be more than twenty percent (20~) less than said assessment by Harris County of comparable properties and determining in