1991-11-11 Regular Meeting - Laserfiche WebLink

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. e EXHIBIT -A- Page 1 of 2 TO AN INDUSTRIAL DISTRICT AGREEMENT BETWEEN THE CITY OF LA PORTE, TEXAS, AND 1. City and Company agree that the real property of Company, more particularly described on Page 1 of this Industrial District Agreement, is presently unimproved, and unannexed to City, except for existing "strip" annexations, if any. City and Company further agree that Paragraph II hereof is hereby amended, to provide that during the term of this Industrial District Agreement, and for such period of time that said real property remains unimproved, that City will not annex said propertYJ provided, however, City reserves the right to conduct "strip" annexations as my be required by law in connection with annexation of land other than that owned by Company. Company agrees to render to City and to pay as "in lieu of taxei~ on Company's said unimproved land, an amount equal to the sum of 100% of the amount of ad valorem taxes which would be payable to City if all the hereinabove described property of Company had been within the corporate limits of City and appraised each year by City's independent appraiser. 2. The provisions of the preceding paragraph hereof shall remain in full force and effect during the term of this Industrial District AgreementJ provided, however, at such time as Company commences improvements to Company's hereinabove described real property, Company shall be entitled to pay an amount "in lieu of taxes" on company's land, improvements, and tangible personal property on the above described property, in accordance with Paragraph II of this Industrial District Agreement. 3. Company agrees that the real property of described shall not be used as a site for commercial incineration, i.e., incineration of hazardous wastes siteJ provided, however, City does not waive its under Paragraph 1 of this agreement. Company herein hazardous waste generated aff- rights reserved 4. Except as amended by the terms and provisions of this Exhibit "A", the terms and provisions of the Industrial District Agreement, to which this Exhibit "A" is attached, shall remain in full force and effect for the term of this Agreement, expiring December 31, 1993. 5. City and Company agree that the terms and provisions of this Industrial District Agreement shall be retroactive to January 1, 1987. City acknowledges receipt of payment of "in lieu of taxes" fro calendar years 1987, 1988, and 1989. ENTERED INTO this day of September, 1990, retroactive to effective date of January-I, 1987. ATTEST: ~-eJ L S t.tLt'~,=-- Assistant Secretary Rexene Products Company 1/ (COMPANY >0 ~ BY: -A::-~ ZIJ. Jnrt1tut- /V Name: Robert L. Sutphen Name: Kevin W. McAleer Executive Vice President and Title: Chief Financial Officer Address: 5005 LBJ Freeway APPROVED BY COUNSEL: 'j2-b-{)-~ L .s U'fJ).e-..~ Attorney for Compan - Dallas, Texas 75244 Name: Robert L. Sutphen Address: 5005 LBJ Freeway Dallas, Texas 7524~ Telephone: 214-450-9071