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<br />. <br /> <br />e <br /> <br />to this Section V.C. to finance, acquire, construct or reconstruct any Educational <br />Facilities Project Costs. <br /> <br />Interlocal Agreement between City of La Porte and Harris County, Texas <br /> <br />Section II. <br /> <br />Definitions <br /> <br />"Harris County Tax Increment Participation" means the amount of the Harris County tax <br />contribution to the La Porte Zone pursuant to Section IV of this Agreement. <br />. <br /> <br />Section IV. Obligations of Harris County <br /> <br />A. Tax Increment Participation by Harris County <br /> <br />. For and in consideration of the agreements of the parties set forth herein, and SUbject to <br />the remaining subsections of this section, the parties agree that Harris County's <br />participation in the La Porte Zone is a contribution, to the extent authorized by law, to the <br />Tax Increment Fund during the term of this Agreement of seventy-five percent (75%) of <br />the tax increment attributed to the Captured Appraised Value in the La Porte Zone <br />attributable to Harris County for the period January 1, 2001 through December 31, 2029; <br />and that the contributions of the Port of Houston' Authority of Harris County, Texas, the <br />Harris County Flood Control District, the Harris County Hospital District, the Harris <br />County Department of Education, and any other taxing entity for whom Harris County <br />imposes taxes, either now or in the future, shall be zero percent (0%) of the tax <br />increment attributed to the Captured Appraised Value in the La Port~ Zone attributable <br />to the Port of Houston Authority of Harris County, Texas, the Harris County Flood <br />Control District, the Harris County Hospital District, the Harris County Department of <br />Education, and any other taxing entity for whom Harris County imposes taxes, either <br />now or in the future. Harris County's participation and use of funds is limited to the <br />projects described in Exhibit A to this Agreement. In addition, Harris County, at its <br />option, may choose to manage the construction of any project to which it will contribute. <br />All increments contributed by Harris County shall be restricted for use only on those <br />projects and in the amounts set out in Exhibit A, attached hereto and made a' pa~ <br />hereof. In the event of bond financing, Harris County's tax increments may be dedicated <br />to bond repayment, however, in that event, a portion of the bond proceeds equal to the <br />total of all of Harris County's proposed participation set out in Exhibit A, shall be <br />restricted for use' only on those projects and in the amounts set out in Exhibit A. <br /> <br />B. <br /> <br />Tax Increment Limitation <br /> <br />Harris County is not obligated to pay its Harris County Tax Increment Participation from <br />any source other than taxes collected by Harris County of the Captured Appraised <br />Value. Furthermore, Harris County has no duty or obligation to pay the Harris County <br />Tax Increment Participation from any other Harris County taxes or revenues, or until the <br />Harris County Tax Increment Participation in the La Porte Zone is actually collected. <br />Any portion of the taxes representing the Harris County Tax Increment Participation that <br />are paid to Harris County and subsequently refunded pursuant to the provisions of the <br />Texas Tax Code shall be offset against future payment to the Tax Increment Fund. The <br />obligations to pay the Harris County Tax Increment Participation accrues, as taxes <br />representing the Harris County Tax Increment Participation are collected by Harris <br />County, and payment shall be due as provided in section 311.013(c) of the Texas Tax <br /> <br />4 <br />