1981-03-04 Regular Meeting - Laserfiche WebLink

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• • • Industrial District agreement - 7 County Appraisal District for any year or years during the terms hereof, noti:ing ir. this Agreement shall pre clud~: such protest z~nd Company shall have the right to take all legal steps desired by it to reduce the same. Notwithstanding such protest by Company, Company agrees to pay to City on or before the date therefor hereinabove provided, at least the total of (a) the total amount of ad valorem tares on the annexed portions, plus (b) the total amount of the "in lieu of tares" on the unannexed portions of Company's hereinabove- described property which would be due by Company to City in accord- . ance with the foregoing provisions of this Agreement on the basis of renditions which shall be timely filed by Company with City's Tax Assessor-Collector or with both the City and the Harris County Appraisal District (as the case may be) for that year. j~lhen the City or Harris County Appraisal District (as the case rtay be) valua- tion on said property of Company has been so finally determined, either as the result of final judgment of a court of competent juris- diction or as the 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. (B) Should Company disagree with any appraisal made by the • independent appraiser selected by City pursuant to Article YI(B) above (which shall be given in writing to Company), Company shall, within twenty (20) days of receiving such copy, give written notice to the City of such disagreement. In the event Company does not give such written notice of disagreement within such time period, the appraisal made by said indeF>end~nt appraiser shall be final and controlling for purposes of the determination of "in lieu of tares" payments to he made under this Agreement. Should Company give such notice of disagreement, Company shall also submit to the City with such notice a written statement setting C/l~