1987-12-07 Workshop Meeting and Called Regular Meeting

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er -' Industrial District ^gree~ent - 5 limits of City and appraised by City's independent appraiser, reduced by the amount of Ci ty' s ad valorem tax on the annexed portion thereof as determined by appraisal by the Harris County Appraisal District. Nothing contained in Article II(B) (1) shall ever be construed as in derogation of the authority of the Harris County Appraisal .;~ District to establish the appraised value of land, improvements, and tangible pers'onal prope'rty in the annexed portion, for ad valorem ~. .~. 'n".-.~.. j...: .:. ~ ';,-~j - j , . ;.. tax purposes. - ~_ 0.- :'J o.r. .~: :-: (- ~ ~ c :"" ...~. ,.-.',.... .,. ..... ". " . _.~. \0. III. This Agreement shall extend for a period beginning on the 1st day . .;"_:~;<-:--'.e::a_::~, ;~,;~j t..:~:';:'f.-~':.l."= ~';.~ '..~() :"~:~ ":", :'c.......:-"(..,:..)...: ,- ~'.: -. . -'- . of January, 1980, and continue there?fter until December 31, 1986', . - . ," unless - extended for' an add i tionalper1od or period s of time upon mutu- al con~~nt of Company and City as provided by the Municipal Annexation Act; provided, hovlever, that in the event this Agreement is not sc extended for an additional period or periods of time on or before l~ugust 31, of the final calendar year of'the term hereof, the agree- ment of Ci ty not to annex property of Company wi th in the District shall terminate. In . that event, City shall hav'e the right to com- mence immediate annexation proceedings as to all of Company's propert~ covered by this Agreement, notwithstanding any of the terms and pro- visions o~ this agreement, and in such event Company agrees that i the Texas Municipal Act, Article 970a (V.A.T.S.), is hereafter amende. or any new legislation is enacted by the Legislature of the State 0 Texas \o/hich imposes greater restrictions on' the right of City t anne:.: land belonging to Company or imposes further obligations 0 City in connection therewith after the annexation of such land Company will waive the right to require City ~o comply with any suc additional restrictions or obligations and the rights of the partie shall be then determined in accordllnce \o/ith the provisions of sai Texas Municip~l l\nnexation Act as the same exists on the dute c . . .. . ..... -.,....,~.~....~._ ,,,"'...':'"...... .....,:! ~ J\o.': !'. - -. .... ...-...... '~,.r__':=':~:"