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O-1972-942
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O-1972-942
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Last modified
11/2/2016 3:38:31 PM
Creation date
7/20/2006 7:45:31 AM
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Legislative Records
Legislative Type
Ordinance
Date
11/5/1972
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<br />'A <br /> <br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />. . <br /> <br />Industrial District Agreernent - 6 <br /> <br />. <br /> <br />ad valorern tax payrnents, and the arnount of "in lieu of tax" payments <br />hereunder. <br /> <br />VII. <br /> <br />In the event Cornpany elects to protest the valuation set on its <br /> <br />said properties by City for any year or years during the terrns hereof, <br />nothing in this Agreernent shall preclude such protest and Cornpany shall <br />have the right to take all legal steps desired by it to reduce the <br /> <br />sarne. Notwithstanding such protest by Cornpany, Cornpany agrees to pay <br />to City on or before the date therefor hereinabove provided, at least <br />the total of (a) the total arnount of ad valorern taxes on the annexed <br /> <br />portions, plus (b) the total arnount of the lIin lieu of taxes" on the <br />~ unannexed portions of Cornpany's hereinabove-described property which <br />would be due by Cornpany to City in accordance with the foregoing pro- <br />visions of this Agreernent on the basis of renditions which shall be <br />tirnely filed by Cornpany with City's Tax Assessor-Collector for that <br />year. When the City tax valuation on said property of Cornpany has been <br />finally deterrnined, either as the result of final judgrnent of a court <br /> <br />of cornpetent jurisdiction or as the result of other final conclusion <br /> <br />of the controversy, then within thirty (30) days thereafter Cornpany <br /> <br />shall rnake payment to City of any additional payrnent due hereunder <br /> <br />based on such final valuation. <br /> <br />. <br /> <br />VIII. <br /> <br />City shall be entitled to a tax lien on Cornpany's above-described <br />property, and all irnprovernents thereon, in the event of default in <br /> <br />payrnent of "in lieu of taxes" payrnents hereunder, ~lhich shall accrue <br /> <br />penalty and interest in like manner as delinquent taxes, and which <br /> <br />shall be collectible by City in the same manner as provided by law <br /> <br />for delinquent taxes. <br /> <br />IX. <br /> <br />Cornpany agrees to provide to City at Cornpany's expense, a survey <br />plat and field note description of the land and irnprovemen~ which <br />Cornpany petitions to be annexed in accordance with the provisions of <br />Article II above. Such annexation tract shall be contiguous to <br /> <br />. <br /> <br />a point on the existing corporate lirnits of La Porte. In the event <br /> <br />(Revised: 8-72) <br />
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