04 Historic Structure Tax Exemp - Laserfiche WebLink

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(b) If the tax exemption certificate executed by the City Manager is timely recorded by the owner of the site in the Deed Records of Lamar County with the approved application, the tax exemption authorized above shall constitute a covenant running with the land for the seven (7) year period provided in this Article. Likewise, any tax exemption approved in accordance with this ordinance shall apply for future owners of the affected property for the remainder of the seven (7) year term, provided the owner or owners execute an assignment of the tax exemption agreement in such form as the City shall specify. Should the current owner of the site ever cease to comply with the terms of the application, the tax exemption agreement, or this Article during such seven (7) year period, the exemption may be revoked for the years remaining within such seven (7) year period, upon the finding of such non- compliance by the City Council, after giving notice and hearing to the owner. The City Manager or his designee shall advise the Chief Appraiser of the Lamar County Appraisal District of the revocation of the exemption and shall file an appropriate document in the Deed Records of Lamar County revoking the tax exemption. (c) In the event that the City or any other affected jurisdiction having granted a tax exemption hereunder determines that the applicant or owner is in default of any of the terms or conditions contained in the application, in the tax exemption agreement, or in this Article, then the affected jurisdiction shall give the applicant or current owner (60) days written notice to cure such default. In the event such default is not cured to the satisfaction of the affected jurisdiction within the sixty (60) day notice period, then the tax exemption agreement shall terminate, all exemption of taxes shall likewise terminate, and the current owner shall immediately repay to the City and all other local taxing entities all of the tax revenues that were not paid because of the exemption plus interest calculated at an annual rate of seven percent (7%). (d) In every case of termination set forth above, any affected jurisdiction having granted the tax exemption may determine whether default has occurred by the applicant or owner in the terms and conditions of the application, the tax exemption agreement, or this Article, and shall so notify all other affected jurisdictions. Termination of the tax exemption agreement by any affected jurisdiction shall constitute simultaneous termination of all tax exemption agreements of all other affected jurisdictions." Section 4. That this ordinance shall not be construed so as to conflict with any State or Federal statute. Section 5. That all ordinances or portions of ordinances in conflict with the terms and provisions of this ordinance shall be and are hereby repealed to the extent of such conflict only. S~ction 6. That if any section, subsection, paragraph, sentence, clause, phrase, or word in this ordinance or the application thereof to any person or circumstance is held invalid by a court of competent jurisdiction, such holding shall not affect the validity or the remaining portions of the ordinance, and the City Council hereby declares that it would have passed such remaining portions of the ordinance despite such invalidity. Section 7. That this ordinance shall be effective December 1, 2004. -6-