Res 2006-025 - Laserfiche WebLink

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I I I - K this agreement is expressly contingent upon the availability of funds for each obligation herein for the term of the agreement and any extension thereto. In the event that either no funds or insufficient funds are appropriated for the payments due under this agreement for the period covered by such budget or appropriation, the contract shall terminate without penalty to the County. C. Expansion of the Zone; Supplemental Projects. The County's obligation to make payments under this Agreement is limited to the County's captured appraised value on property in the Zone as described in this Agreement. The County is not obligated to make payments based on the addition of property to the Zone unless the County specifically agrees to do so by amendment to this Agreement. The County's obligation to make payments under this Agreement is also limited to use by the City for partial reimbursement of the Project Costs, as described in Recital 4 above. The County is not obligated to make payments towards the costs of any other improvements unless the County specifically agrees to do so by amendment to this Agreement. Any member of the County Commissioners Court may review and provide comments to the Board of Directors of the Zone or the City Council of the City on any proposed expansion of the Zone or amendment to the Project Plan prior to its approval by the City Council. D. County Appointment to Board of Directors of the Zone. Pursuant to the provisions of Section 311.009(a), Texas Tax Code, the Commissioners Court of the County shall have the unequivocal right during the term of this Agreement to appoint and remove, at its sole discretion, a qualified person to serve as a voting member of the Board of Directors of the Zone. Failure of the Commissioners Court to appoint a person to the Board of Directors of the Zone shall not be deemed a waiver of the County's right to make an appointment at a later date. The Commissioners Court will make best faith efforts to appoint a qualified person to serve on the Board of Directors, and to fill vacancies in this position as needed. The Commissioners Court may also appoint and maintain as many non-voting members of the Board of Directors of the Zone as the County may desire. SECTION 3. OBLIGATIONS OF THE CITY A. Initial Project Plan. The City agrees that the Project, as described in Recital 3 above, will comprise the Project in the initial Project Plan adopted by the Board of Directors of the Zone and approved by the City Council of the City. The City agrees that the reinvestment 4