O-1972-942 - Laserfiche WebLink

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. ,', . . . . . Indn3t~ial Di&tIlct Agrecn~nt - 2 upon 't,hich tract (s) Company has either constrllcted an industrial plant{s) or contemplates the construction of an industrial plant{sl; and ~~EP~AS, pursuant to its policy, City has enacted Ordinance No. 729 designating a part of the area" located in its extraterritorial jurisdiction as the "Battleground Industrial District of La Porte, Texas," hereinafte"r called "District," such Ordinance being in com- p1iance with the provisions of Article I, Section 5 of the M~~icipal Annexation Act, H.B. 13, Acts of the 58th Legislature of the State of Texas, Regular Session, 1963; and WHEREAS, City desires to encourage the expansion and growth of industrial plants within said District and for such purpose desires to enter into this Agreement with Company pursuant to Resolution ,adopted by the City Commission of said City and recorded in the official minutes of said City: NOW, THEREFORE, in consideration of the prernises and the mutual agreernent of the parties contained herein and pursuant to the authority granted under the Municipal Annexation Act and the Ordinance of City referred to above, City and Company hereby agree with each other as . follows: I. City covenants, agrees and guarantees that during the terrn of this Agreement, provided beiow, and subject to the terms and ,provisions of this l\.greernent, sai:d District shall continue and retain its ext.caterri- torial status as an industrial district, at least ~o the extent that the same covers the land described above and belonging to Company and its assigns, and unless and until the status of said land, or a portion or portions thereof, as an industrial district may be changed pursuant . to the terms of this Agreement. Subject to the foregoi.ng and to the later provisions of this Agreement, City does further covenant, nCJree (Hcvised; 8-72)