O-1973-947 - Laserfiche WebLink

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~ ~ . I Industrial District Agreement - 3 e ~ ~ .and guarantee that SUQn industrial district, to the extent that it covers sai4 land lY~bg within said District and not now within the corporate limits of City or to be annexed under the provisions of Article II hereof, shall be immune from annexation by City during the term hereof (except as hereinafter provided) and shall have no right to have extended to it any services by City, and that all of said land, including that which has been heretofore or which may be annexed pur- suant to the later provisions of this Agreement, shall not have extended to it by ordinance any rules and regulations (a) governing pla~s and subdivisions of land, (b) prescribing any building, electrical, plumb- ing or inspection code or codes, or (c) attempting to exercise in any emanner whatever control over the conduct of business thereoni provided, however, it is agreed that City shall have the right to institute or intervene in any judicial proceeding authorized by the Texas Water Code or the Texas Clean Air Act to the same extent and to the same intent and effect as if all land covered by this Agreement were located within the corporate limits of City. II. Company has filed with City, coincident with the execution hereof, its petition to City to annex 25% of the total value of the land and improvements hereinabove described. Upon annexation thereof, Company eagrees to render and pay full City ad valorem taxes on such annexed land and improvements. In addition, Company shall make "in lieu of taxes" payments to City on the remaining 75% of the value of the land and improvements thereon, in an amount equal to 25% of the amount which would be payab1e to City 'in ad valorem ,taxes if said 75% of the hereinabove described property was within the corporate limits of City. III. City shall have the right three (3) years after the effective date hereof to review and determine the value of the land and improvements within the area covered by this Agreement which are then within the corporate limits of City (the annexed area) and the value of the land eand improvements within the area covered by this Agreement which are not within the corporate limits of City (the unannexed area). If at (Revised: 8-72)