§ 3.16.200. Reinvestment zone—Effective date and date of determination of tax increment base established.

The effective date of the zone and the date of determination of the tax increment base is established according to law as the earliest date provided by Article 1066d, Vernon's Texas Civil Statutes; Article 1066e and the transitional schedule provided in Section 2(b) therein, Vernon's Texas Civil Statutes; Article 8 Section 1-g of the Texas Constitution; city Ordinance No. 7094, adopted on December 30, 1980, creating the Tax Incremental District No. 1, this section, Sections 3.16.170 through 3.16.190 and 3.16.210 through 3.16.260. The zone shall be terminated on December 31, 2010, or at an earlier time designated by a subsequent ordinance, but in any event, at such time as all project costs and tax increment bonds and interest thereon, have been paid in full.

(Prior code § 8-29(b)(3))