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HomeMy WebLinkAbout16156 ORD - 04/01/1981AN ORDINANCE AUTHORIZING THE CITY MANAGER TO EXECUTE AN INDUSTRIAL DISTRICT AGREEMENT WITH BERRY CONTRACTING, INC., LONE STAR ERECTION CO., INC. AND MARVIN L. BERRY FOR A TERN OF SEVEN (7) YEARS COMMENCING JANUARY 1, 1981; DESIGNATING AN AREA TO BE KNOWN AS "CORPUS CHRISTI INDUSTRIAL DISTRICT NO. 7"; EXEMPTING SUCH AREA FROM ANNEXATION AND PROVIDING FOR AN ANNUAL PAYMENT IN LIEU OF TAXES TO THE CITY DURING THE TERM THEREOF; ALL AS MORE FULLY SET FORTH IN THE INDUSTRIAL DISTRICT AGREE- MENT, A SUBSTANTIAL COPY OF WHICH IS ATTACHED HERETO AND MADE A PART HEREOF, MARKED EXHIBIT 1. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That the City Manager be and he is hereby authorized to execute an Industrial District Agreement with Berry Contracting, Inc., Lone Star Erection Co., Inc. and Marvin L. Berry for a term of seven (7) years commencing January 1, 1981; designating an area to be known as "Corpus Christi Industrial District No. 7"; exempting such area from annexation and providing for an annual payment in lieu of taxes to the City during the term thereof; all as more fully set forth in the Industrial District Agreement, a substantial copy of which is attached hereto and made a part hereof, marked Exhibit 1. 161.56 AdialfliMED £P271984 ti INDUSTRIAL DISTRICT AGREEMENT THE STATE OF • TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI 1 4-2-81 - This Agreement made and entered into by and between the CITY OF CORPUS CHRISTI, TEXAS, a municipal corporation of Nueces County, Texas, hereinafter called "CITY", and BERRY cam/Perm. INC. —{ta1T�Bwner}- a Texan corporation, TDNR STAR F:RF.C'PTc)N TTN' (LCs:cc) , a Texas corporation, and MARVTl L. BERRY Landowner -(-Improvements Owner* corporation, hereinafter collectively called "COMPANY':, " WITNESSETH: WHEREAS, it is -the established policy of the City Council of -the City of Corpus Christi, Texas, to adopt reasonable measures permitted by-law which will tend to enhance the economic stability and growth of the City and its en- virons and which will attract the -location of new and 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 or lessee of land or owner of improve- ments on land -within the extraterritorial jurisdiction of the -City of Corpus Christi, which land shall, upon execution of this agreement by the City, be -- known as "Corpus Christi Industrial District No. 7 - and which land is more particularly described in Exhibit "A" -attached hereto, and incorporated herein for all purposes, herein called "said land" -and upon which Company has either constructed (and/or contemplates) the construction or expansion of improvements; and WHEREAS, pursuant to said policy and provisions of Article 970a, Revised Civil Statutes of Texas, known as the Municipal Annexation Act, City has enacted Ordinance No. 15898 indicating its willingness, within 90 days after final passage of said ordinance, to enter into industrial district agree- ments with industries located within its extraterritorial jurisdiction and designating areas located in its extraterritorial jurisdiction as industrial districts, herein collectively called "Districts" and Ordinance No. 15949 d n. designating'landareas as Corpus Christi Industrial Development Area No. 1 orf Corpus Christi Industrial Development Area No. 2; and WHEREAS, City desires to encourage the updating, expansion and growth of industries within said Districts and for such purpose desires to enter into this Agreement with Company: • 1.:)"4=- NOW, THEREFORE, in consideration of the premises, the mutual agreements of the parties herein contained and pursuant to the authority granted under the Municipal Annexation Act and the Ordinance of City referred to above, City and Company hereby agree as follows: ��co•: .. I +=x- +- City covenants and agrees that during the term of this Agreement, and subject to the terms and provisions hereof, said land shall retain its extra- territorial status as an industrial district and shall continue to retain such status until and unless the same is changed pursuant to the terms of this Agree- ment. Except as herein provided City further covenants and agrees that said; land shall be immune from annexation. During the term hereof City shall have no obligation to extend to_ said land any City services except fire protection in the event Company makes additional payments to City under Article III(d) hereof, and such other City services as are being provided to and paid for by Company on the date hereof_ Further, City and Company agree that during the term hereof, City shall not require_with respect to •said land compliance with its rules or regu- -lotions (a) governing zoning and platting of said land or any .additions thereto outside the City limits; provided, however, Company further agrees that it will in no way divide said land or additions thereto without complying with State law and City ordinances governing subdivision of land; (b) prescribing any building, electrical, plumbing or inspection code or codes; -or -(c) prescribing any rules governing the method of operations of Company's business, except as to those regulations relating to the delivery of utility services and industrial waste disposal through City owned facilities. II The term of this Agreement shall begin shall continue until December 31, 1987, periods of time upon mutual consent of 1981, and period or - 2 - on the first day of January, unless extended for additional 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 March 31 of the final calendar year of the term hereof, then the immunity from annexation granted herein shall terminate on that date, but all other terms of this Agreement shall remain in effect for the remainder of the term; provided, however, the effective date and time of such annexation shall be no earlier than midnight of December 31 of such final year of the term-.- , This Agreement may be extended for an additional period or periods by agreement between City and Company and/or its assigns. In this connection, City recognizes that industrial district agreements of this kind are conducive to the _J• development of existing and future -industry and business and are to the best interest of all citizens of City. Accordingly, future City Councils are hereby -. . -encouraged; but are not.obligated,.to•enter into industrial district agreements and to extend -existing industrial district agreements. III Each year during the term hereof, Company shall pay to City: (a) An -amount in lieu of taxes on said land (excluding -improvements and personal property located thereon) -equal to one hundred -percent (100%) of- _ , : the f- the amount of -ad valorem taxes based upon the market value of said Tand which would otherwise be payable to City -by Company if said land were -situated within- • the -city limits_of-City. .With respect -to any new land.acquired by-- Company after -January 1,. 1981, located -=in the extraterritorial jurisdiction of City, and -the -use of which - relates directly tothe primary use of the parent tract, such new land'shall.be- • included in -Company's landknown as said land, and shall be -considered in.calcu- lating-the--in-lieu of tax payment on said land as of January 1 of the first year following the date which such new land is acquired by Company. In addition, Company shall provide City a revised Exhibit "A" which includes a complete de- scription of such new land. - (b) An_amount in lieu of taxes on improvements (excluding personal property) located on said land equal to fifty percent (50%) of the amount of ad valorem taxes which would otherwise be payable to City by Company if said improvements were situated on land within the city limits of City. On or before March 31 of each year during the term of this,Agree- 'ment, Company shall provide to City's Tax Assessor -Collector a written statement of its opinion of the market value sworn to by an official of Company authorized to do the same. - • ;,„. (c) With respect to any new improvements or facilities, which are hereby defined as those being completed after January 1, 1974, Company shall pay to City five percent (5%) rather than the percentages of the amount of ad valorem taxes as calculated in paragraph (b) above for each year of use, i.e., 10% the second year in use, 15% the third year in use, etc. Payments under this provision shall never exceed fifty percent (50%). The first yearofuse for purposes of this new improvements payment shall be deemed to commence on the first day of January.next following the date which the new improvements are placed in use. This provision shall apply to construction of new improve- ments or facilities and to the expansion of existing improvements or facilities. on said land. New improvements or facilities not included within this paragraph (c) shall be deemed to be included within the provisions of paragraph (b) above. (d) An additional amount for City fire protection equal- to fifteen percent (15%) of the amount which would be payable on 100% of assessed value of improvements located in said land notwithstanding the provisions of paragraph (b) above; provided, however, that if and as long as Company is a member in good standing of the Refinery Terminal Fire Company, or its successor, it shall not be obligated to pay the additional amount provided by this paragraph (d). (e) At the request of Company, an alternative to the method of calcu- lation set forth in paragraphs (a) through (d) above, the Company may make a pay- ment which is determined by considering using the method of calculation set_forth— • in paragraphs (a) through (d) above, said land and all other lands contiguous to said land, or forming an integral part of Company's primary operation located on said land, owned by Company inside the city limits as' if all the value of Company's lands above described and improvements thereon were outside the city limits, and deducting from the amount which would otherwise be due from such calculation the property taxes actually due to City resulting from the assessed values of land and improvements, excluding personal property, located inside the City. If Company selects such alternative procedure, the amount due to City under this section shall be the resulting difference or the minimum payment required in paragraph (f), whichever is greater. In addition, Company shall provide City, by attaching hereto as Exhibit "B", a complete description of the lands contiguous to said land, or forming an integral part of Company's primary operation located on said land, owned by Company inside the city limits. -4- With respect to any new land acquired by Company after January 1, 1981, located inside the city limits, which is contiguous to said land, or forms an integral part of Company's primary operation located on said land, such new land may be considered in the alternative method of calculating the in lieu of tax payment as stated above, as of January 1 of the first year following the date which such new land is acquired by Company. Company shall provide City a new or revised Exhibit "8" which includes a complete description of such new land.. \ (f) Minimum Payments. For any Company which qualifies as an industry under'Ordinance No. 15898 and which has less than two million dollars ($2,000,000.00) .,in market value of improvements on said land subject to this Agreement, such Company, in lieu of the payments in items (a), (b), (c), (d) and (e) above, shall pay the lower of: amount in lieu of taxes on said land equal to one hundred percent (IOgX) of the amount of ad valorem taxes based on the market value of said land which would be payable to City if said land were situated within the city limits, plus an amount equal to one hundred percent (100%) of the ad - valorem taxes on one million dollars -($1,000,000.00) of improvements which would be payable to City if said improvements were situated within the city limits, regardless of whether one million dollars •($1,000,000.00) of improve- ments exist an said land, or (ii) the amount of adi-valorem taxes on land, improvements and personal property on said land which would be payable to City if said land; improvements and personal property were situated within the city limits of City, plus an amount in lieu of City sales tax equal to that which would be remitted to the State Comptroller annually by Company, and which would later be remitted to City by the State Comptroller, if said land were situated within the city limits. Iv Company agrees to pay to City on or before December 31 of each year during the term hereof all payments in lieu of taxes provided for hereunder without discount for early payment. The present ratio of ad valorem tax assess- ment 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 -5- j -e que �bgequent computations hereunder. This Agreement and the method of determining r- -,aro �z and fixing the amount of in lieu of taxes payments hereunder shall be subject to all provisions of law relating to determinations of market value and taxation, including, but not limited to, laws relating to rendition, assessment, equaliza- tion and appeal. v In the event Company elects to protest the valuation set on any of its properties by City for any year or years during the term hereof, it is agreed that 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 as if such property were located within the City. Notwithstanding any such protest by Company, Company agrees to pay to City an initial in lieu of tax payment on or before the date therefor hereinabove provided, at least the amount of the payment in lieu of taxes on said land and improvements which would be due by Company to City hereunder on the basis of renditions filed-- by iled—by Company with City's Tax Assessor -Collector for that yearoron the basis of the assessment thereof for the last -preceding year, whichever is higher. When the valuation on said property has been finally determined, either as the result of final judgment of a court of competent jurisdiction or as the result of other final settlement of the controversy, then within thirty (30) days thereafter Company shall make to City an additional payment due based on such final valuation. If as a result of final judgment of a court of competent jurisdiction, or as the result of other final settlement of the controversy, the valuation of Company's property is established as an amount less than the amount used to compute the initial in lieu of tax payment for such year by Company, then within thirty (30) days thereafter City shall make to Company any payment due based on the difference between the initial payment and that which is computed based on the final settlement. VI (a) In the event Company fails or refuses to comply with all or any of the terms, conditions and obligations herein imposed upon the Company, then option of City and/or the City may remaining due hereunder or take any this Agreement may be terminated at the elect to sue to recover any sum or sums in the sole discretion of the City it deems best. In the other action which event the City elects to sue to recover any sum due under this Agreement, the -6- amepenalties, interest, attorney's fees, and cost of collection shall be recoverable by the City as would be in a suit to recover delinquent ad valorem h ti,5' L7z+K . taxes. (b) City shall be entitled to a tax lien on said land and improve- ments, in the event of default in payment of in lieu of tax payments hereunder, which may be enforced by City in the same manner as provided by law for the collection of delinquent ad valorem taxes. (c) In the event City breaches this Agreement by annexing or attempting to pass an ordinance annexing any of the said land, Company shall be entitled to enjoin City from the date of its breach for the balance of the term of this Agree- ment, from enforcing ment and from taking any annexation ordinance adopted in violation of this Agree - any further action in violation of this Agreement. If Company elects to pursue this remedy, then so long as City specifically performs its obligations_ hereunder, under injunctive order or otherwise, Company_shall continue to make the annual payments required by this Agreement. VII ' Company agrees to provide to City at Company's expense, a survey plat and field note description of said -land. - With respect -to Company's acquisition. of new land, as described in Article-III(a) above, which becomes included in said land, Company agrees to provide to City at Company's expense, a survey plat and field note description of such new land. VIII If any attempt to annex any of said land owned, used, occupied, leased; rented or possessed by Company, is made by another municipality, or if the incor— poration of any new municipality should be attempted so as to_include_within its limits such land or property, the City shall' seek a temporary and permanent injunction against such annexation or incorporation, with the cooperation of Company, and shall take such other legal action as may be necessary or advisable under the circumstances. The cost of any such legal action shall be borne equally by the parties hereto; provided, however, the fees of any special legal counsel shall be paid by the party retaining same. In the event City and Company are unsuccessful in obtaining a temporary injunction enjoining such attempted annexation or incorporation, Company shall have the -option of (1) terminating this Agreement, effective as of the date of such annexation or incorporation, or (2) continuing to make the in lieu of taxes - 7 - payments required hereunder. Such option shall be exercised within thirty (30) days after the application for such temporary injunction is denied. In the event Company elects to continue such in lieu of taxes payments, the City shall place future payments hereunder together with part of the payment for the cal- endar year in which such annexation or incorporation is attempted, prorated to the date such temporary injunction or relief is denied, in a separate interest- bearing escrow account which shall be held by City subject to the following: (a) In the event final judgment (after all appellate review, if any, has been exhausted) is entered denying a permanent injunction and/or upholding such annexation or incorporation, then all such payments and accrued interest thereon shall be refunded to Company; or _ (b) In the event final judgment (after all appellate review, if .any, has been exhausted) is entered granting a permanent injunction and/or invali- dating such annexation or incorporation, then all such payments and accrued interest thereon shall be retained for use by City. IX The benefits accruing to Company under this Agreement shall_also extend to Company's "affiliates" and to any properties presently owned or acquired by said affiliates within the area described in Exhibit "A" to this - Agreement, and where reference is made herein to land, property -and improve- ments owned by Company, that shall also include land and improvementspresently owned by its affiliates. The word "affiliates" as used herein shall mean (1) all companies with respect to which Company directly or indirectly, through one or more intermediaries at the time in question, owns or has the power to exercise control over fifty percent (50%) or more of the stock having the right to vote for the election of directors; or (2) all corporations which are members of a "controlled group of corporations" (as that term is defined in Section 1563(a) of the Internal Revenue Code of 1954, as amended) of which Company is a member. X This Agreement shall inure to the benefit of and_be binding upon City and Company, and upon Company's successors and assigns, affiliates and subsidi- aries, and shall remain in force whether Company sells, assigns, or in any other manner disposes of, either voluntarily or by operations of law, all or any part of said land, and the agreements herein contained shall be held to be covenants -8- running with said land for so long as this Agreement or any extension thereof remains in force. XI (a) Whenever the Company sells a contiguous portion of said land • consisting of 20 acres or more to an ancillary industry which will be engaged on the property in the further processing of the product of the Company or the preparation of raw materials prior to their processing by the Company, then platting of such property may be deferred under the following conditions: (i) The seller shall submit for approval by the City Council a site plan indicating the proposed water, sewer, drainage, access, and street plans for said land. (ii) Both the buyer and the seller shall enter into an agreement with the City requiring the platting of said land in the event the buyer's use of the property materially changes from the permitted uses described above, or if the Company's industrial district agreement terminates without extension. The seller shall remain solely responsible for any payments in lieu of taxes attributable to the buyer's holdings on the property unless the buyer has entered into a supplemental industrial district contract with the ---- City concerning such holdings. (h) Whenever the Company properly plats,, subdivides and conveys to a buyer other than an affiliate a portion -of the lands described in Exhibit "A" and/or Exhibit "B", Company shall -furnish to the City's Tax Assessor -Collector a revised Exhibit "A" and/or Exhibit "B", which revised exhibit or exhibits shall constitute an amendment to this Agreement, effective for the calendar year next following the calendar year in which the.conveyance occurred: Seller shall remain solely responsible for any payments in lieu of taxes for -the calen- dar year in which the conveyance occurred. In the event the Company improperly plats, subdivides or conveys a portion of the lands described in Exhibit "A" or Exhibit "B", Company shall remain solely responsible for any payments in lieu of taxes applicable to such property, including improvements thereon, as if no such conveyance had occurred. XII If City enters into an agreement with any other landowner, within the extraterritorial jurisdiction of the City, engaged in a similar industry, as classified by Major Group according to the Standard Industrial Classification -9- an661(1) or enters into a renewal of any existing industrial district agreement with an industry of the same classification, which contains in lieu of tax pay- ment terms and provisions more favorable to such landowner than those in this Agreement, Company and its assigns shall have the right to either terminate this Agreement, or amend this Agreement to contain such more favorable in lieu of tax payment terns and provisions. XIII In the event any one or more words, phrases, clauses, sentences, paragraphs, sections, articles or other parts of this Agreement or the appli- cation thereof to any person, firm, corporation or circumstances shall ever 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. -E\ ENTERED into this 11 - day of , 19,R/ lJ.t )� ATTEST:'', ,'; BERRY CONTRACTING, INC. (Company) _ = / (Landowner) / • Secretary ATTEST: • !')/� ,Se,cretary •, 1 .; ATTEST....... fi4 Secretary- )Wit ess (/ ATTEST: City Secreta h� hC �6 ��PScr.r•�, APPROVED: /2,�//ti DAY OF .�,�. �c , 1g8/ : J. BRUCE AYCOCK, CITY ATTORNEY President LONE STAR ERECTION CO..IN((company) (tes�ee )Landowner i By '777 - be i President N.A. -I p eYeRleni:s-.Owae By -'jr! !6 Lan. owner COM CITY OF CORPUS CHRIS By R. Marvi• Townsend, City Manager ------ By Assistt ity Attorney Q :_l6/SGAUIHORIZLL BY COUNCIL_ 461 -I -Pi ... SECIKARY (1) Standard Industrial Classification Manual. (Executive Offiee of the President Office of Management and Budget, Statistical Policy Division, 1972). 659 pp. - 10 - That the foregoing ordinance was read for he first time and passed to its second reading on this the as day of — , 192/ , by the following vote: Luther Jones Edward L. Sample Dr. Jack Best Jack K. Dumphy Leopoldo Luna Betty N. Turner Cliff Zarsky That the foregoing ordinance as read fo e sec•nd time dpassed to its third reading on this the day of �_ ! , 19Y/ , by the following vote: Luther Jones Edward L. Sample Dr. Jack Best Jack K."Dumphy Leopoldo Luna Betty N. Turner Cliff Zarsky - That the foregoing ordina m was rad for on this the day of_ - - Luther Jones Edward L. Sample Dr. Jack Best Jack K.'Dumphy Leopoldo Luna.' Betty N. Turner Cliff Zarsky PASSED AND APPROVED, this the t/.$J day of ATTEST: the third 19 , time and passed finally by the following vote: 9 City Secretary MAYOR THE CITY OF CORPUS CHRISTI, TEXAS APPR ED: DAY OF F , 1911 : J. BRUCE AYCOCK, CITY ATTORNEY 21 -is ity Attorne 18156 MOTION TO AMEND moved and 03 - .seconded this motion to the ordinance authorizing the City Manager to exe— cute an industrial district agreement with Berry Contracting, Inc./Lone Star Erection Company, Inc./Marvin L. Berry for a term of seven (7) years commencing January 1, 1981, passed on first reading by the City Council of the City of Corpus Christi on February 25, 1981, and on second reading on March 4, 1981, the following: 1. Amending the sentence comprising the second paragraph of Article I of Exhibit 1 to hereafter read as follows: "During the term hereof City shall have no obligation to extend to said land any City services except fire protection in the event Company makes additional payments to City under Article III(d) hereof, and such other City services as are - being provided to and paid for by Company on the date hereof." 2. Amending the first sentence of Article IIIc) of Exhibit 1 to hereafter read as follows: "With respect to any new improvements or facilities, which are -hereby defined as those being completed after January 1, 1974, Company shall pay to City five percent (5%) rather than the percentage 'of the amount of ad valorem taxes as calculated' :in paragraph (b) above for each year of use, i.e.,10% the " second year in use, 15% the third year in use, etc." 3. Amending the sentence comprising Article XII of Exhibit I to hereafter read as follows: "If City enters into an agreement with any other landowner, within the extraterritorial jurisdiction of the City, engaged in a similar industry, as classified by Major Group according to the Standard Industrial Classification ManualCl) or enters into a renewal of any existing industrial district agreement with an industry of the same classification which contains in lieu of tax payment terms and provisions more favorable to such landowner than those in this Agreement, Company and its assigns shall have the right to either terminate this Agreement, or amend this Agreement to contain such more favorable in lieu of tax payment terms and provisions." 4. Amending the first paragraph of Article I of Exhibit 1 to hereafter read as follows: "City covenants and agrees that during the term of this Agreement, and subject to the terms and provisions hereof, said land shall retain its extraterritorial status as an • industrial district and shall continue to retain such status until and unless the same is changed pursuant to the terms of this Agreement. Except as herein provided City further covenants and•agrees that said land shall be immune from annexation. Whenever it may be necessary, in the opinion of the -City Council', to annex land not immune from annexa- tion by an effective industrial district agreement pursuant to Ordinance 15898, and in order•to carry out such annexation it is necessary, in -the opinion of the City Council, to annex a strip or corridor of land contained within Exhibit A,"Company shall designate, within sixty (60) days after the City sends Company -written request to provide such strip or corridor, a strip or -corridor (hereinafter called "annexation corridor") in a width and length legally sufficient to accomplish:a con- tractual annexation of the annexation• -corridor pursuant to Article I, Section 2 of the City Charter of Corpus Christi and to enable the City to annex the aforementioned land not immune from annexation. 'Said annexation corridor shall thereafter be included within the corporate boundaries of the City of Corpus Christi, and shall become a part thereof, subject to the terms of Article I, Section 2 of the City Charter of Corpus Christi, as amended. In the event that Company fails or refuses to make such designation legally sufficient to accomplish such purpose, the City may, at its option, either (1) terminate this industrial district agreement and any guarantee of impunity from annexation shall thereafter be void, or (2) seek a mandatory injunction from any court of competent jurisdiction to compel Company to make such designation and perform such other acts as may be necessary for the City to annex said annexation corridor pursuant to this agreement and to Article I, Section 2 of the City Charter, or both." -2- 5. Amending the first sentence of Article VI(c) of Exhibit 1 to hereafter read as follows: "In the event City breaches this Agreement by annexing or attempting to pass an ordinance annexing any of the said land, except as provided in Article I of this Agreement, Company shall be entitled to enjoin City from the date of its breach for the balance of the term of this Agreement, from enforcing any annexation ordinance adopted in violation of this Agreement and from taking any further action in vio- lation of this Agreement." 6. Amending Article III(f) of Exhibit 1 to hereafter read as follows: "(f) Minimum Payments. For any Company which qualifies as an industry under Ordinance No. 15898 and which has less than two million dollars (52,000,000) in market value of improvements on said land subject to this agreement, such Company, in lieu of the payments in items (a), (b), (c), (d), and (e) above, shall pay the lower of: - "(i) an a:,:ount in lieu of taxes on said land equal to one hundred percent (100%) of the amount of ad valorem taxes based on the market value of said land which would be payable to City if said land were situated within the .city limits, plus an amount equal to one hundred percent (100%) of the ad valorem taxes on one million dollars ($1,000,000) of improvements which would be payable to- - City if said improvements were situated within the city limits, regardless of which one million dollars ($1,000,000) of improvementsexist on said land, or "(ii) the amount of ad valorem taxes on land, improve- ments and personal property on said land which would be payable to City if said land, improvements and personal property were situated within the city limits of City, plus an amount in lieu of City sales tax equal to that which would-be remitted to the State Comptroller annually by Company, and which would later be remitted to City by the State Comptroller, if said land were situated within the city limits." . 7. Amending the third "WHEREAS" clause of Exhibit 1 to hereafter read as follows: "WHEREAS, pursuant to said policy and the provisions of Article 970a, Revised Civil Statutes of Texas, known as the Municipal Annexation Act, City has enacted Ordinance No. 15898 indicating its willingness, within 90 days after final passage of said ordinance, to enter into industrial district - 3 - A agreements with industries located within its extraterritorial jurisdiction and designating areas located in its extraterritorial jurisdiction as industrial districts, herein collectively called "Districts",and Ordinance No. 15949 designating land areas as Corpus Christi Industrial Development Area No. 1 and Corpus Christi Industrial Development Area No. 2; and" PASSED 4 MOTION P u /'4 Ph/ / moved and ,6 U N ii seconded this motion to include in the ordinance authorizing the City Manager to execute an industrial district agreement with Berry Contracting, Inc., Lone Star Erection Company, Inc., and Marvin L. Berry, for a term of seven (7) years commencing January 1, 1981, passed on first reading by the City Council of the City of Corpus Christi on February 25, 1981, and on second reading on March 4, 1981, the following: 1. Adding the required Exhibit "A" describing the lands to be included within the industrial district. PASSED t`/)1—a.4,-, // /v'cpi