1969-01-06 Regular Meeting - Laserfiche WebLink

Browse Search

,. ~ • 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 Com- pany°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 compar- able properties a 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 de- termining in dollars the proper assessment that should have been placed on Company°s said property by Harris County for the year in question, • then the assessment determined by said judgment shall be used for the purpose of calculating the amount to be paid City in lieu of taxes in accor- dance with the provisions of paragraph (2) above, If final judgment entered in any suit does not find said assessment on Company's property to be more than twenty percent (20%) less than said assessment by Harris County of comparable properties within the District, then the assessment originally established for that year shall be used for the purpose of para- graph (2) above . The costs of any such suit, exclusive of attorney's fees , shall be borne by the losing party . (3) This Industrial Agreement shall extend for a term beginning on the first day of January, 196.b, and continuing thereafter until Decem- • ber 31 , 197 unless extended for an additional period or periods of time as provided by the Texas Municipal Annexation Act upon mutual consent of the parties; 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 , 1972, the agreement of the City not to annex property of Com- pany within the District shall terminate. In this connection, City hereby -5-