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Res 2481 3/25/1980s• RESOLUTION NO. few RESOLUTION DESIGNATING A CERTAIN TRACT OF LAND LOCATED IN WICHITA COUNTY, AS AN IN- DUSTRIAL DISTRICT, AND APPROVING A CONTRACT WITH INGERSOLL-RAND COMPANY GUARANTEEING ITS IMMUNITY FROM ANNEXATION FOR A PERIOD OF SEVEN (7) YEARS. BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT: SECTION 1. That a certain tract of land located in Wichita County, Texas, said land being more fully described in Exhibit A attached and incor- porated herein, being a part of the area located in the extraterritorial juris- diction of the City of Wichita Falls, is hereby designated as an industrial district in accordance with the provisions of Section 5 of the Municipal Annexation Act, Article 970a of the Revised Civil Statutes of Texas. SECTION 2. That certain contract, a copy of which is attached hereto, between the City of Wichita Falls and Ingersoll-Rand Company, whereby the City guarantees the continuation of the extraterritorial status of the said tract of land more fully described in Exhibit A attached and its immunity from annex- ation by City for a period of seven (7) years from January 1, 1980, is hereby approved, and the City Manager is authorized to execute the same for the City of Wichita Falls. PASSED AND APPROVED THIS THE 25th day of March, 1980. MAYOR ATTEST: CITY CLERK 1l THE STATE OF TEXAS X COUNTY OF WICHITA X This contract made and entered into by and between the City of Wichita Falls, Texas, a municipal corporation, hereinafter called City", and Ingersoll-Rand Company, hereinafter called Ingersoll-Rand. WITNESSETH: WHEREAS, INGERSOLL-RAND is the owner of a certain tract of land, hereinafter called "Subject Property" , located in Wichita County, Texas, said land being more fully described in Exhibit A, which is attached hereto and incorporated herein, and which land is located within City' s extraterritorial jurisdiction; and, WHEREAS, the Board of Aldermen of City has, by Resolution No. 1//1/ , designated Subject Property as an industrial district, and authorized and approved this contract which such Board of Aldermen deem to be in the best interest of the City. NOW, THEREFORE, for and in consideration of the mutual cove- nants hereinafter contrained to be performed by the parties hereto, City and Ingersoll-Rand do hereby agree as follows : 1.City guarantees the continuation of the extraterritorial status of Subject Property, and its immunity from annexation by City for a period of seven (7) years from January 1st, 1980 . 2 .City will furnish water service to Ingersoll-Rand on Subject Property at rates equal to 150% of the rates charged to users located within the City limits throughout the term of this contract, unless City's Board of Aldermen completely eliminates the standard out-of-city additional charge established by ordinance, in which event Ingersoll-Rand shall thereafter pay the same rates charged to users within the City limits. 3.City will furnish sanitary sewer service to Ingersoll- Rand on Subject Property at rates equal to 150% of the rates charged to users located within the City limits throughout the term of this contract, unless City's Board of Aldermen completely eliminates the standard out-of-city additional charge established by ordinance, in which event Ingersoll-Rand shall thereafter pay the same rates charged to users within the City limits. 4 . City will furnish solid waste collection and removal service to Ingersoll-Rand on Subject Property at rates equal to 125% of the rates charged to commercial and business establishments within the City limits throughout the term of this contract, unless City' s Bcard of Aldermen completely eliminates the standard out-of- city additional charge established by ordinance, in which event Ingersol] -Rand shall thereafter pay the same rates charged to users within the City limits . 5 . The water service, sanitary sewer service and solid waste collection service provided to Ingersoll-Rand by City shall be subject to the ordinances of City as presently existing and as may be hereinafter amended. 6 . City will furnish fire protection service to Ingersoll- Rand on Subject Property. 7 . Ingersoll-Rand will pay to City each year during the seven (7) years of this contract, as payment in lieu of taxes , an amount in cash equal to 25% of that amount that their normal City taxes would have been that year had they been in the City limits . Each annual payment shall be made between October 15 and December 31 of each year; the first such payment in lieu of taxes shall be payable between October 15 and December 31 of 1980 . In computing the amount that their taxes would be each year during this contract, the following rules shall be applied : a. The appraised value of the land shall be determined in the same manner that other land in the City is appraised. b. The initial appraisal of the buildings and other improvements shall be an amount equal to 92% of the actual costs of such buildings and improvements, which cost figures will be furnished to City by Ingersoll-Rand. c. The appraised value of the machinery, equipment and other personal property except for inventory shall be, throughout the term of this contract, an amount equal to 65% of the actual costs of such machinery, equipment and other personal property, which cost figures will be furnished to City by Ingersoll-Rand. d. The appraised value of the inventory shall be de- termined in the same manner that the inventory of other firms in the City are appraised. -2- e. Each year the then current assessment ratio estab- lished by the Board of Aldermen shall be applied to the appraised value in order to obtain the assessed value; the then current tax rate as established by the Board of Aldermen shall be applied to the assessed value to obtain the amount that the taxes would have been that year had the property been located within the City limits. The payment in lieu of taxes shall be 25% of the amount so computed. 8 . This contract does not release or waive any obligations to the City in connection with any paving, curb and gutter, or other improvement liens which may be assessed against Subject Property. 9 . In the event Ingersoll-Rand should breach any of the provisions of this contract, and it fails to remedy such breach within thirty (30) days after having been notified by City to do so, then City shall have the right to terminate this contract, and to proceed to annex Subject Property. 10 . City shall initiate proceeding to annex Subject Pro- perty into the City limits early enough to be able to complete such proceeding by December 31, 1986 , and Subject Property shall be in- cluded on the tax rolls of City on January 1, 1987 . 11 . This contract shall be effective as of January 1, 1980 . IN WITNESS WHEREOF, the parties hereto have caused this con- tract to be executed by their duly authorized officers on this the 25th day of March , 1980 . CITY OF WICHITA FALLS , TEXAS BY: r� ' L-4i)4 Ge'ald G. Fox ' City Manager ATTEST: ./ir z City' Clerk INGERSOLL-RAND COMPANY B Y , a/11A.A.,z,teJI ATTEST: Vice-Precc�c� pgst. Sec-cy v j _ r EXHIBIT A A tract of land out of Block 26 , Kemp & Newby Subdivision, Cherokee County School Land, A-33 , Wichita County, Texas, and being more specificElly described by metes and bounds as follows : BF;GINNING at a point in the North line of said Block 26 and the South line of Unit One, Expressway East Industrial District, an addition to the City of Wichita Falls, Texas , said point lies in the South right-of-way line of Production Boulevard and bears South 88°58 ' 34' East 1747 . 21 feet from the Northwest corner of said Block 26 for the Northeast corner and place of beginning of this descrip- tion; THENCE South 01°O1 ' 26" West 1258 . 30 feet to a point in the South line of Block 26 for the Southeast corner of this tract; THENCE North 88°57 ' 19" West 1726 feet along said South line of Block 26 to a point in the East right-of-way line of Hammon Road for the Southwest corner of this tract; THENCE North 01°00 ' East 1258 feet along the East right-of- way line of Hammon Road to a point in the South right-of-way line of Production Bouldvard for the Northwest corner of this tract; THENCE South 88°58"34" East 1726 feet along the South right- of-way line of Production Boulevard to the place of beginning and containing 50 acres, more or less .