HomeMy WebLinkAboutO-1993-1895
ORDINANCE NO. 93- 1895
AN ORDINANCE AUTHORIZING THE EXECUTION BY THE CITY OF LA PORTE OF AN
INDUSTRIAL DISTRICT AGREEMENT WITH FMC CORPORATION, WITHIN THE
BAYPORT INDUSTRIAL DISTRICT FOR THE TERM COMMENCING JANUARY 1, 1987,
AND ENDING DECEMBER 31, 1993.
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE:
section 1. The City Council hereby finds, determines and
declares that FMC CORPORATION has executed an industrial district
agreement with the City of La Porte, for the term commencing January
1, 1987, and ending December 31, 1993, a copy of proposed industrial
district agreement being attached hereto, incorporated by reference
herein, and made a part hereof for all purposes.
Section 2.
The Mayor, the City Council, and the City
Secretary of the City of La Porte, Texas, be, and they are hereby,
authorized and empowered to execute and deliver on behalf of the
City of La Porte, Texas, the industrial district agreement with the
corporation named in Section 1 hereof, a copy of which is attached
hereto.
section 3.
The City Council officially finds, determines,
recites and declares that a sufficient written notice of the date,
hour, place and subject of this meeting of the City Council was
posted at a place convenient to the public at the City Hall of the
City for the time required by law preceding this meeting, as
required by the Open Meetings Law, Article 6252-17, Texas Revised
civil Statutes Annotated; and that this meeting has been open to the
public as required by law at all times during which this ordinance
and the subject matter thereof has been discussed, considered and
formally acted upon. The City Council further ratifies, approves
and confirms such written notice and the contents and posting
thereof.
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ORDINANCE NO. 93-1895
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its passage and approval, and it is so ordered.
section 4. This Ordinance shall be effective from and after
PASSED AND APPROVED, this 12th day of April, 1993.
~OF LA PORT~
BY ~~
fl'o an L. ~~, Ma or
A~~
Cher1e B ac
City Secretary
AP~vJ ~
Knox W. . Askins
City Attorney
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FULBRIGHT & ~AWORSKI
L. L. P.
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A REGISTERED LIMITED LIABILITY PARTNERSHIP
1301 MCKINNEY, SUITE 5100
HOUSTON, TEXAS 77010-3095
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HOUSTON
WASHINGTON. D,C,
AUSTIN
SAN ANTONIO
DALLAS
NEW YORK
LOS ANGELES
LONDON
ZURICH
HONG KONG
TELEPHONE: 713/651-5151
TELEX: 76-2829
FACSIM ILE: 713/651-5246
WRITER'S DIRECT DIAL NUMBER:
713/651-5241
BY MESSENGER --
RETURN RECEIPT REQUESTED
April 2, 1993
Re: FMC Corporation/Industrial District Agreement with the City of La Porte,
Texas for the Period January 1, 1987 through December 31, 1993
Mr. Knox W. Askins
Askins & Armstrong, P.C.
702 W. Fairmont Parkway
La Porte, Texas 77572-1218
Dear Knox:
Pursuant to our telephone conference today, enclosed please find the
following:
1. Four (4) originals of the above-referenced agreement (the
"Agreement"), which have been executed by FMC Corporation and us;
and
2. FMC Corporation's check number 027434 dated April 2, 1993, payable
to "City of La Porte" in the amount of$18,411.10, and representing the
aggregate amount of "in lieu" taxes remaining due from FMC
Corporation under the Agreement for tax years through and including
the tax year 1992.
As we discussed, Article II of the Agreement has been crossed out and
initialed by FMC Corporation, because the matters therein are covered by the
provisions of EXHIBIT "B" to the Agreement. Please cause City of La Porte to initial
Article II in connection with their execution of the Agreement.
0196498
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Mr. Knox W. Askins
Askins & Armstrong, P.C.
April 2, 1993
Page 2
We confirmed with Ms. Ana M. Estrada, Tax Supervisor of the City of La
Porte, that the amount of lIin lieull taxes remaining due from FMC Corporation under
the Agreement for tax years through and including 1992 is $18,411.10. The breakdown
of this amount is as follows:
1. 1990 IIln Lieull Taxes on 64.00-acre tract
Less refund due FMC Corporation for 1989
$7,914.47
(4.281.27)
Net amount due on 64.00-acre tract for 1990
$3,633.20
. 2. 1990 IIln Lieull Taxes on 23.8225-acre
tract sold to ARCa Chemical Corporation
in 1990
Total
$3,213.66
$5,441.20
$6.123.04
~18.411.10
3. 199111In Lieull Taxes on 44.00-acre tract
4. 1992 IIln Lieull Taxes on 44.00-acre tract
We understand from our telephone conference that the Agreement will be on
the City Council's agenda for the April 12, 1993 meeting. Mter the Agreement has
been executed by City of La Porte, please send two fully executed originals to me. In
addition, please send me the receipts evidencing payment of the lIin lieull taxes identified
above.
With respect to the Industrial District Agreement matters we discussed
relating to the term beginning January 1, 1994, please return to me via our messenger
delivering this letter the list of taxpayers in the district{s) and, if you can locate it, a
copy of the business cards of the industry representatives in attendance at the meeting
on March 26, 1993.
If you have any questions, please call me at (713) 651-5241. Thank you for
your attention to this matter.
Very truly yours,
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Stephen A. Kuntz
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0196498
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Mr. Knox W. Askins
Askins & Armstrong, P.C.
April 2, 1993
Page 3
SAK/tik
Enclosures
cc: Ms. Ana M. Estrada
Tax Supervisor
City of La Porte
P. O. Box 1115
La Porte, Texas 77572-1115
(w/copy of check)
Mr. James M. Steinberg
Counsel
FMC Corporation
19th Floor
1735 Market Street
Philadelphia, Pennsylvania 19103
(w/copy of enclosures)
Mr. Jeff McRae
Comptroller
FMC Corporation
12000 Bay Area Boulevard
Pasadena, Texas 77507
(w/copy of enclosures)
0196498
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(Revised: 06/86)
NOTICE: THIS CONTRACT IS SUBJECT TO ARBITRATION
UNDER THE TEXAS GENERAL ARBITRATION ACT, ARTICLE
224, ET. SEQ., REVISED CIVIL STATUTES OF TEXAS
THE STATE OF TEXAS ~
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COUNTY OF HARRIS ~
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CITY OF LA PORTE ~
INDUSTRIAL DISTRICT AGREEMENT
This AGREEMENT made and entered into by and between the CITY OF
LA PORTE, TEXAS, a municipal corporation of Harris County, Texas,
hereinafter called "CITY" , and
F1C CORPORATION
, a Delaware
corporation, hereinafter called "COMPANY",
WIT N E SSE T H: That
WHEREAS, it is the established policy of the City Council of the
City of La Porte, Texas, to adopt such reasonable measures from time
to time as are permitted by law and which will tend to enhance the
economic stability and growth of the City and its environs by attracting
the location of new and the expansion of existing industries therein,
and such policy is hereby reaffirmed and adopted by this City Council
as being in the best interest of the City and its citizens: and
WHEREAS, Company is the owner of a certain tract(s) of land more
particularly described in the Deed Records of Harris County, Texas,
in the following Volume and Page references, to-wit:
That certain parcel of land, out of the George B. McKinstry
League, A-47, in Harris County, Texas, more particularly
described by metes and bounds on Exhibit "A" attached hereto,
incorporated by reference herein, and made a part hereof for
all purposes.
THIS INDUSTRIAL DISTRICT AGREEMENT IS SUBJECT TO THE TERMS AND
CONDITIONS SET FORTH IN EXHIBIT "B" ATTACHED HERETO, INCORPORATED BY
REFERENCE HEREIN, AND MADE A PART HEREOF FOR ALL PURPOSES.
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Industrial District Agreement - 2
upon which tract(s) Company has either constructed an industrial
plant(s) or contemplates the construction of an industrial plant(s):
and
WHEREAS, pursuant to its policy, City has enacted Ordinance No.
729, designating portions of the area located in its extraterritorial
jurisdiction as the "Battleground Industrial District of La Porte,
Texas," and Ordinance No. 842, designating portions of the area 10-
cated in its extraterritorial jurisdiction as the ""Bayport Industrial
District of La Porte, Texas," hereinafter collectively called "Dis-
trict," such Ordinances being in compliance with the Municipal Annex-
ation Act of Texas, Article 970a, Vernons Annotated Revised Civil
Statutes of Texas: and
WHEREAS, City desires to encourage the expansion and growth of
industrial plants within said Districts and for such purpose desires
to enter into this Agreement with Company pursuant to Resolution
adopted by the City Council of said City and recorded in the official
minutes of said City:
NOW, THEREFORE, in consideration of the premises and the mutual
agreements of the parties contained herein and pursuant to the
authori ty granted under the Municipal Annexation Act and the Ordinances
of City referred to above, City and Company hereby agree with each
other as follows:
I.
Ci ty covenants, agrees and guarantees that during the term of
this Agreement, provided below, and subject to the terms and provisions
of this Agreement, said District shall continue and retain its
extraterritorial status as an industrial district, at least to 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
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Industrial District Agreement - 3
the foregoing and to the later provisions of this Agrement, City does
further covenant, agree and guarantee that such industrial district,
to the extent that it covers said land lying 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 pursuant to the later provisions 'of this
Agreement, shall not have extended to it by ordinance any rules and
regulations (a) governing plats and subdivisions of land, (b) prescri-
bing any building, electrical, plumbing or inspection code or codes,
or (c)
attempting to exercise in any manner whatever control over
the conduct of business thereon: 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
on hereof, its
described property
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heretof~r@
limits of City.
II. 1),Q&JA.J} ~\IN\:it
five
e total value
filed with City,
with
been
to City to
the hereinabove described property,
shall be annexed
Ci ty ad valorem
land and
tangible personal
621, Acts
of the 65th: Texas Legislature,
as amended),
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the appraised
e for tax purposes of t e annexed
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Industrial District Agreement - 4
improvements,
tangible personal p
be deter 'ned by
the Harris
The parties
istrict has no author' y to appraise the land,
y in the unannexed
the purpose
hereunder.
the parties
of the land,
and tangible
the unannexed
by City,
an independent appraiser of City's
that in
entire
improvements, and
render and pay Ci ty ad valorem
land, improvements, a tangible personal pro-
perty.
to render
an amount "in
of taxes"
company' s land,
and tangible
the unannexed
(l) Fifty percent
would be
Ci ty if all of
property
January l,
been within the
corporate
of City and
year by City's
(2)
of the
of ad valorem taxes
appraiser: and
payable to
any increase in value
hereinabove described
in excess of the appra' ed value
of same on January
new acquisitions tangible personal propert, (exclusive of
Construction Progress, which shall be e from taxation),
new construction and
had been within
independent
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Industrial District Agreement - 5
with the
(1) and (2) r
em
taxes thereof
rris County Appr. isal District.
by
propert
the Harris
value of
the annexed
for ad
derogation
establish
tangible personal
tax purposes.
III.
This Agreement shall extend for a period beginning on the 1st
day of January, 1987, and continue thereafter until December 31, 1993,
unless extended for an additional period or periods of time upon
mutual consent of Company and City as provided by the Municipal
Annexation Act: provided, however, that in the event this Agreement
is not so extended for an additional period or periods of time On
or before August 31, 1993, the agreement of City not to annex property
of Company within the District shall terminate. In that event, City
shall have the right to commence immediate annexation proceedings as
to all of Company I s property. covered by this Agreement, notwithstanding
any of the terms and provisions of this agrement, and in such event
Company agrees that if the Texas Municipal Act, Article 970a (V.A.T.S.),
as amended after January 1, 1980, or any new legislation is thereafter
enacted by the Legislature of the State of Texas which imposes greater
restrictions on the right of City to annex land belonging to Company
or imposes further obligations on City in connection therewith after
the annexation of such land, Company will waive the right to require
City to comply with any such additional restrictions or obligations
and the rights of the parties shall be then determined in accordance
with the provisions of said Texas Municipal Annexation Act as the
same existed January 1, 1980.
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Industrial District Agreement - 6
IV.
This Agreement may be extended for an additional period or
periods by agreement between City and Company and/or its assigns even
though it is not extended by agreement between City and all of the
owners of all land wi thin the District of which it is a part. In
this connection, City hereby expresses its belief that industrial
district agreements of the kind made herein are conducive to the
development of existing and future industry and are to ,the best
interest of all citizens of City and encourage future City Councils
to enter into future industrial district agreements and to extend for
additional periods permitted by law this Industrial District Agreement
upon request of Company or its assigns; provided, however, that
nothing herein contained shall be deemed to obligate either party
hereto to agree to an extension of this Agrement.
V.
Company agrees to pay all ad valorem taxes, and all "in lieu
of taxes" payments hereunder, to City on or before December 31 of
each year during the term hereof. It is agreed that presently the
ratio of ad valorem tax assessment used by City is one hundred percent
(100%) of the fair market value of property. Any change in such
ratio used by City shall be reflected in any subsequent computations
hereunder. This Agreement shall be subject to all provisions of law
relating to determination of value of land, improvements, and tangible
personal property, for tax purposes (e.g., rendition, assessment,
Harris County Appraisal District review and appeal procedures, court
appeals, etc.) for purposes of fixing and determining the amount of
ad valorem tax payments, and the amount of "in lieu of tax" payments
hereunder, except as otherwise provided in Articles II and VI hereof.
VI.
(A) In the event Company elects to protest the valuation for
tax purposes set on its said properties by City or by the Harris
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Industrial District Agreement - 7
County Appraisal District for any year or years during the terms
hereof, nothing in this Agreement shall preclude such protest and
Company shall have the right to take all legal steps desired by it to
reduce the same.
Nothwithstanding such protest by Company, Company agrees to pay
to City on or before the date therefor hereinabove provided, at least
the total of (a) the total amount of ad valorem taxes on the annexed
portions, plus (b) the total amount of the "in lieu of taxes" on the
unannexed portions of Company's hereinabove-described property which
would be due by Company to City in accordance with the foregoing
provisions of this Agrement on the basis of renditions which shall be
filed by Company on or before March 31 of each year during the term
of this Agreement, with both the City and the Harris County Appraisal
District (as the case may be) for that year.
When the City or Harris County Appraisal District (as the case
may be) valuation on said property of Company has been so finally
determined, either as the result of final judgment of a court of
competent jurisdiction or as the result of other final conclusion of
the controversy, then wi thin thirty (30) days thereafter Company
shall make payment to City of any additional payment due hereunder
based on such final valuation, together with applicable penal ties,
interests, and costs.
(B) Should Company disagree with any appraisal made by the
independent apppraiser selected by City pursuant to Article II above
(which shall be given in writing to Company), Company shall, within
twenty (20) days of receiving such copy, give written notice to the
City of such disagreement. In the event Company does not give such
written notice of disagreement within such time period, the appraisal
made by said independent appraiser shall be final and controlling for
purposes of the determination of "in lieu of taxes" payments to be
made under this Agreement.
Should Company give such notice of disagreement, Company shall
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Industrial District Agreement - 8
also submit to the City with such notice a written statement setting
forth what Company believes to be the market value of Company' s
hereinabove described property.
Both parties agree to thereupon
enter into good faith negotiations in an attempt to reach an agreement
as to the market value of Company' s property for II in lieu II purposes
hereunder. If, after the expiration of thirty (30) days from the
date the notice of disagreement was received by City, the parties
have not reached agreement as to such market value, the parties agree
to submit the dispute to final arbitration as provided in subparagraph
(l) of this Article VI(B). Notwithstanding any such disagreement by
Company, Company agrees to pay to City on or before December 31 of
each year during the term hereof, at least the total of (a) the ad
valorem taxes on the annexed portions, plus (b) the total amount of
the lIin lieull payments which would be due hereunder on the basis of
Company's valuations rendered and/or submitted to City by Company
hereunder, or the total assessment and lIin lieu of taxesll thereon
for the last preceding year, whichever is higher.
(l) A Board of Arbitrators shall be created composed of one
person named by Company, one by City, and a third to be named by
those two.
In case of no agreement on this arbitrator in 10
days, the parties will join in a written request that the Chief
Judge of the U. S. District Court for the Southern District of
Texas appoint the third arbitrator who, (as the II Impartial
Arbitratorll) shall preside over the arbitration proceeding. The
sole issue to be determined in the arbitration shall be resolution
of the difference between the parties as to the fair market
value of Company' s property for calculation of the II in lieu II
payment and total payment hereunder for the year in question.
The Board shall hear and consider all relevant and material
evidence on that issue including expert opinion, and shall
render its written decision as promptly as practicable.
That
decision shall then be final and binding upon the parties,
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Industrial District Agreement - 9
subject only to judicial review as may be available under the
Texas General Arbitration Act (Articles 224-238, Vernon's Annot-
ated Revised Civil Statutes of Texas). Costs of the arbitration
shall be shared equally by the Company and the City, provided
that each party shall bear its own attorneys fees.
(C) Should the provisions of Article II of this Agreement
become impossible of enforcement because of (I) the invalidity or
unenforceability of the Texas Property Code (S.B. 621, Acts of the
65th Texas Legislature, Regular Session, 1979), or any relevant
provision thereof, or (2) because of any material delay or failure
to act on the part of the Harris County Appraisal District, then and
in any of such events, all payments under this Agreement shall be
governed by the provisions of Article II hereof; anything to the
contrary in this Agreement notwithstanding.
VII.
City shall be entitled to a tax lien on Company's above-described
property, all improvements thereon, and all tangible personal property
thereon, in the event of default in payment of .. in lieu of taxes II
payments hereunder, which shall accrue penalty and interest in like
manner as delinq~ent taxes, and which shall be collectible by City in
the same manner as provided by law for delinquent taxes.
VIII.
Company agrees to provide to City at Company's expense, a survey
plat and field note description of the land and improvements which
Company petitions to be annexed in accordance with the provisions of
Article II above. Such annexation tract shall be contiguous to a
point on the existing corporate limits of La Porte. In the event of
failure of Company to file either such petition, or such description,
City shall have the right by notice in writing to Company to cancel
and terminate this Agreement.
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Industrial District Agreement - 10
IX.
This Agreement shall inure to the benefit of and be binding
upon City and Company, and upon Company's successors and assigns,
affiliates and subsidiaries, and shall remain in force whether Company
sells, assigns, or in any other manner disposes of, either voluntarily
or by operation of law, all or any part of the property belonging to
it within the territory hereinabove described, and the agreements
herein contained shall be held to be covenants running with the land
owned by Company situated within said territory, for so long as this
Agreement or any extension thereof remains in force.
X.
If City enters into an Agreement with any other landowner with
respect to an industrial district or enters into a renewal of any
existing industrial district agreements after the effective date
hereof and while this Agreement is in effect, which contains terms
and provisions more favorable to the landowner than those in this
Agreement, Company and its assigns shall have the right to amend
this Agreement and City agrees to amend same to embrace the more
favorable terms of such agreement or renewal agreement: provided,
however, City reserves the right to enter into such agreements or
renewal agreements with other landowners not covered by existing
agreements, containing a percentage of ad valorem taxes more favorable
to the landowner than that contained in Paragraph II, Subparagraph 3
(2) hereof, and Company and its assigns shall not have the right to
amend this agreement to embrace the more favorable percentage of ad
valorem taxes contained in such agreement or renewal thereof, than
that contained in Paragraph II, Subparagraph 3 (2) hereof. City may
extend more favorable terms to landowners covered by existing contracts
only to the extent such favorable terms apply to any increase in
value of the hereinabove described property, in excess of the appraised
value of same on January 1, 1986, as described in Paragraph II, Sub-
paragraph 3 (2) hereof.
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Industrial District Agreement - 11
XI.
In the event anyone or more words, phrases, clauses,
sentences, paragraphs, sections, articles or other parts of this
Agreement or the application thereof to any person, firm,
corporation or circumstances shall be held by any court of competent
jurisdiction to be invalid or unconstitutional for any reason, then
the application, invalidity or unconstitutionality of such words,
phrase, clause, sentence, paragraph, section, article or other part
of the Agreement shall be deemed to be independent of and separable
from the remainder of this Agreement and the validity of the
remaining parts of this Agreement shall not be affected thereby.
XII.
Upon the commencement of the term of this Agreement, all other
previously existing industrial district agreements with respect to
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said land shall terminate.
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ENTERED INTO this ~ day of
January 1, 1987.
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APPROVED BY COUNSEL:
FULBRIGHT & J
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,torney for Compan
Name: Stephen A. Kuntz
Address: 1301 McKinney, Suite 5100
Houston, Texas 77010-3095
Telephone: (713) 651-5241
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ATTEST:
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Cherie ~lSiCk,.City Secretary
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KNOX W. ASKINS, City Attorney
702 W. Fairmont Parkway
P. O. Box 1218
La Porte, Texas 77571
Telephone: (713) 471-1886
(Revised: 03/87)
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CITY OF LA PORTE
By4~~Yor
By: Qol~ T, ~
Robert T. Herrera, City Manager
CITY OF LA PORTE
P. o. Box 1115
La Porte, Texas 77571
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EXHIBIT A
That certain 44 acres of land, more or less, out of the George B. McKinstry
League, A-47 in Harris County Texas, being 168.7945 acres of land in the La Porte
Industrial District out of that certain 203.713 acres of land conveyed to FMC
Corporation by deed dated June 11,1970, recorded under Clerk's File No. D-123161 in
the Official Public Records of Real Property of Harris County, Texas, SAVE, LESS and
EXCEPT (i) 80.972 acres of land conveyed to the City of LaPorte by deed dated
July 24, 1989, recorded under Clerk's File No. M-253982 in the Official Public Records
of Real Property of Harris County, Texas, (ii) 23.8225 acres of land out of that certain
100 acres ofland conveyed to ARCO Chemical Corporation by deed dated July 16, 1990,
recorded under Clerk's File No. M-728181 in the Official Public Records of Real
Property of Harris County, Texas, leaving 64 acres of land remaining from said
168.7945 acres of land, which 64 acres is more more particularly described by metes and
bounds as follows:
BEGINNING at 5/8 inch iron rod found for the southwest corner of that certain
80.972 acre tract of land conveyed to the City of LaPorte, Texas by instrument
recorded under Clerk's File No. M-253982 in the Official Public Records of Real
Property of Harris County, Texas, being in the East right-of-way line of Bay
Area Boulevard based on 150 feet in width, and being the northwest corner of
the herein described 64 acres of land;
THENCE South 010 00' 45" E, 1,274.37 feet with the East right-of-way line of
said Bay Area Boulevard to a 5/8 inch iron rod set for the southwest corner for
the herein described 64 acres of land;
THENCE North 870 26' 12" East, 2,286.50 feet to a 5/8 inch iron rod set for the
southeast corner of this 64 acre tract and being in the West line of a Harris
County Flood Control District Fee Strip called Ditch "C", Tract 2, described in
instrument recorded under Clerk's File No. 0-239800 in the Official Public
Records of Real Property of Harris County, Texas;
THENCE North 100 08' 23" West, 1000.80 feet along the West line of said Ditch
to Copperweld Rod 2383 found for angle'.ppint in the East line of this 64 acre
tract;
THENCE North 030 01' 51" West, 281.85 feet to a 5/8 inch iron rod found in the
West right-of-way line of said Ditch for the northeast corner of this 64 acre tract;
THENCE South 870 26' 12" West, 2,117.76 feet to the PLACE OF BEGINNING
and containing 64 acres of land, more or less;
SAVE, LESS and EXCEPT from said 64 acres that certain 20 acres of land conveyed
by FMC Foundation to CHUSEI (U.S.A.) INC. by deed dated August 26, 1991, and
recorded under Clerk's File No. N-291863 in the Official Public Records of Real
Property of Harris County, Texas.
0077188
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EXHIBIT "B"
Page 1 of 2
TO AN INDUSTRIAL DISTRICT AGREEMENT BETWEEN THE CITY OF LA PORTE,
TEXAS, AND FMC CORPORATION.
1. City and Company agree that the real property of Company, more
particularly described on Page 1 of this Industrial District
Agreement, is presently unimproved, and unannexed to City, except
for existing "strip" annexations, if any. City and Company further
agree that paragraph II hereof is hereby amended, to provide that
during the term of this Industrial District Agreement, and for such
period of time that said real property remains unimproved, that City
will not annex said propertyr provided, however, City reserves the
right to conduct "strip" annexations as my be required by law in
connection with annexation of land other than that owned bY,Company.
Company agrees to render to City and to pay as "in lieu of taxes" on
Company's said unimproved land, an amount equal to the sum of 100%
of the amount of ad valorem taxes which would be payable to City if
all the hereinabove described property of Company had been within
the corporate limits of City and appraised each year by City's
independent appraiser.
2. The provisions of the preceding paragraph hereof shall remain in
full force and effect during the term of this Industrial District
Agreementr -provided, however, at such time as Company commences
improvements to Company's hereinabove described real property,
Company shall be entitled to pay an amount "in lieu of taxes" on
Company's land, improvements, and tangible personal property on the
above described property, in accordance with Paragraph II of this
Industrial District Agreement.
3. Company agrees that the real property of
described shall not be used as a site for commercial
incineration, i.e., incineration of hazardous wastes
siter provided, however, City does not waive its
under Paragraph 1 of this agreement.
Company herein
hazardous waste
generated off-
rights reserved
4. Except as amended by the terms and provlslons of this Exhibit
nBn, the terms and provisions of the Industrial District Agreement,
to which this Exhibit nB" is attached, shall remain in full force
and effect for the term of this Agreement, expiring December 31,
1993.
5. City and Company agree that the terms and provisions of this
Industrial District Agreement shall be retroactive to January 1,
1987.
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EXHIBIT "B"
Page 2 of 2
~~2:)
ENTERED INTO
effective date of
this ~aY of ~. 1991:
January 1, 1987.
retroactive to
~ PMC CORPORATlON
By: {i.AAJt (litGHt
ame: ~. '.- S'
Title:
Address: 1735 Market Street
PhiladeJ,phia, Pennsv1vania 19103
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APPROVED BY COUNSEL:
FULBRIGHT & J~
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ffiorney for Compa
Name: Stephen A. Kuntz
Address :1301 McKinney, - SUite 5100
Houston, Texas 7701~3095
Telephone: (713) 651-5241
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Cherie B1ack"--
City Secretary
CITY OF LA PORTE
By.Jk~
~~rman Malone
Mayor
By:G<~ T ~
Robert T. Herrera
City Manager
Knox W. Asklns
City Attorney
702 W. Fairmont Parkway
P.O. Box 1218
La Porte, TX 77572-1218
Telephone: (713) 471-1886
CITY OF LA PORTE
P.O. Box 1115
La Porte, TX 77572-1115