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<br />WHE,REAS, the City may later establish a Public Improvement District(s) to finance the
<br />constroction of certain other public improvements to serve the Zone pursuant.to Chapter. 372,
<br />TEXAS LOCAL GOVERNMENT CODE (the "Pill Act") and pursuant to an approved Service and
<br />Assessment Plan approved by City; and
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<br />WHEREAS, if a Pill is established within the Zone, the City and the Zone may desire to
<br />contract with the Authority to provide the assistance described in this Agreement during the term of
<br />the Zone, and to finance the efforts of the Authority using Pill assessments as provided herein;
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<br />NOW, THEREFORE, for,and in consideration of the premises and the mutual covenants
<br />and agreements herein contained, the City, the Zone and the Authority agree as follows:
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<br />I.
<br />DEFINITIONS
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<br />Definitions. The terms "Agreement," "Authority," "City," "Zone Board," and "Tri-Party
<br />Agreement," and "P ID Act" have the meanings set forth in the preamble hereof, and the following
<br />capitalized terms shall have the meanings provided bel.ow, unless otherwise defined or the context
<br />clearly requires otherwise. For purposes of this Agreement the words "shall" and "will" are
<br />mandatory, and the word "may" is permissive.
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<br />"Agreemenf' shall mean this Agreement and all attachments hereto, between the City, the
<br />Zone and the Authority. '
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<br />"Appraisal District' shall mean the Harris County Appraisal District.
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<br />"Autnority Obligations" shall mean the notes or other contractual obligations that the
<br />Authority may incur from time to tiIIie with a Developer pursuant to Article III hereof and includes
<br />without limitation Development Agreements.
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<br />. OJ1uS" ,SUlU.I:-me I<tti '. ., '~', on~ .. w,0I:'LJ:JJ.l;> unus' ,$I'l:!tapn, ,'oa ,1'
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<br />"Captured Appraised Value" shall mean the total appraised value of property in the Zone as
<br />of January I of any year less the Tax Increment Base of the Zone, all as defmed in the TIRZ Act.
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<br />"City" is defmed in the recitals hereto. '
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<br />"City Councif' shall mean the City Council of the City.
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<br />"City Manager" shall mean the city manager of the City, or such person as he or she shall
<br />designate. I
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<br />HaUSlaa:J67966.2
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<br />"County" shall mean Harris County, Texas.
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