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<br />.e ( <br /> <br />e <br /> <br />,- <br />. <br /> <br />Industrial District l\greement - 6 <br /> <br />execution of this Agreemcnt. This Agreement may be exte~ded for an <br /> <br />additional period or periods by agreement between City and Company <br />and/or its assigns even though it is not extended by agreement <br /> <br />between City and all of the owners of all land within the District, <br /> <br />af which it is a part. <br /> <br />In this connection, Ci ty hereby expresses <br /> <br />.its belief that <br /> <br />,'~ <br />industrial district agreem~nts of the kind made <br /> <br />herein are ~o!1duciv~ to, the.. ~.eve~opmen~ af existing and future indus- <br /> <br />try and are to the best interest of all citizens of City_ ~nd encour- <br /> <br />age,future City Commissions to enter into future industrial district <br /> <br />: ~ ,. <br /> <br />agreements and to extend for additional periods permitted by laVl <br /> <br />this Industrial <br /> <br />Distric.t ,?\9J;eement upon <br /> <br />request of~Ol'!~pany or <br /> <br />its <br /> <br />assigns iH P;~~ iged-, however! that, nothing herein contained shall be <br />deemed to ob1ig~te either party hereto to. agree to an extension af <br />this Agreement. <br /> <br />IV. <br /> <br />Company agrees to pay all ad valorem taxes, and all "in lieu af <br /> <br />taxes" pClyments hereunder, to City on or before December 31 af eacr. <br /> <br />year during the term hereof. <br /> <br />It is agreed that presently the ratic <br /> <br />of ad valorem tax assessment used by City is eighty per cent (80%) af <br />the fair market value af property. Any change in such ratio used b2 <br />City shall be reflected in any subsequent computations hereunder.. <br /> <br />This Agreement shall be subject to all provisions af law relating t< <br /> <br />determina tion af value of land, impravements, and tang ible persona: <br /> <br />property, for tax purposes (e. g. ,. rend i tion r. assessmen t ~ Board 0 <br /> <br />Equalization. procedure', 'court appeals, etc.) for purposes of fix in< <br /> <br />and determining the amount of ad valorem tax payments, and the amoun' <br /> <br />of "in lieu of tax" payments hereunder, except as otherwise providel <br /> <br />in Articles II and V hereof. <br /> <br />V. <br /> <br />(1\) In the event Compilny elects to protest the vClluCltion Eo <br /> <br />tax purposes set on it~ said properties by City or by the Ilarri <br />