08-25-99 La Porte Reinvestment Zone Number One

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'f" j. B. Tax Increment Limitation Harris County is not obligated to pay its Harris County Tax Increment Participation from any source other than taxes collected by Harris County on the Captured Appraised Value. Furthermore, Harris County has no duty or obligation to pay the Harris County Tax Increment Participation from any other Harris County taxes or revenues, or until the Harris County Tax Increment Participation in the La Porte Zone is actually collected. Any portion of the taxes representing the Harris County Tax Increment Participation that are paid to Harris County and subsequently refunded pursuant to the provisions of the Texas Tax Code shall be offs~t against future payments to the Tax Increment Fund. The obligation to pay the H~s County Tax Increment Participation accrues, as taxes representing the Harris County Tax Increment Participation are collected by Harris County, and payment shall be due as provided in section 31 1.0 13 (c) of the Texas Tax Code. No interest or penalty will be charged to Harris County for any late payment received from Harris County; provided however, that penalty and interest received by Harris Co.unty on any delinquent taxes from the Harris County Tax Increment Participation shall be paid to the Tax Increment Fund in the amounts required by section 3ll.0l3(c) of the Texas Tax Code. C. Expansion of La Porte Zone The obligation of Harris County to participate in the La Porte Zone is limited to the area described in City of La Porte Ordinance Nos. 99-2325 and 99-2350. Harris County's participation does not extend to the tax increment on any additional property added to the La Porte Zone by the City or any amendment to the Project Plan by the La Porte Zone and the City that would increase the total amount of project costs unless Harris County specifically agrees to participate in the additional area or amendment to the Project Plan. In addition, Harris County's participation does 5