1998-09-28 Regular Meeting and Public Hearing

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- e ~@., . ~DY: . l .', ~-? section 4 . Accordingly, there is hereby established and designated a reinvestment zone in the City of La Porte to be known as the PPG Industries Reinvestment Zone, legally described by metes and bounds on Exhibit "E", and as more particularly shown on the plat attached hereto as Exhibit "F", Proposed Reinvestment Zone, reference to which is here made for all purposes. section 5. The City Council of the city of La Porte authorizes and approves the execution of a tax abatement agreement with PPG Industries, Inc., for abatement of City of La Porte ad valorem taxes, in form attached hereto as Exhibit "G" incorporated 'by reference herein, and made a part hereof for all purposes. The City Manager is hereby authorized to execute such document and all related documents on behalf of the City of La Porte. The City Secretary is hereby authorized to attest to all such signatures and to affix the seal of the City to all such documents. Section 6. This Ordinance shall serve as notice of the establishment of the PPG Industries Reinvestment Zone by the City of La Porte, to every taxing uni t that includes inside its boundaries property that is located within the boundaries of the Zone, and the City Secretary is hereby directed to send certified copies of this Ordinance to all such affected taxing units. section 7. The City Council officially finds, determines, recites, and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as 3