[Adopted 11-5-2013 by Ord. No. 45-13]
A.
The Board of County Commissioners may enter into a written agreement for a negotiated payment in lieu of taxes under this Article X with the owner of a facility for the liquefaction of natural gas that is located or locates in the County.
B.
As specified in an agreement for a negotiated payment in lieu of taxes under this Article X, for the term specified in the agreement, the real, operating real, personal, or operating personal property at a facility for the liquefaction of natural gas that is located or locates in the County is exempt from County property tax.
An agreement for a negotiated payment in lieu of taxes under
this article shall provide that, for the term specified in the agreement:
A.
The owner shall pay to the County a specified amount each year in
lieu of the payment of County real, operating real, personal, or operating
personal property tax; and
B.
As set forth in an agreement, all or a specified part of the real,
operating real, personal, or operating personal property at the facility
shall be exempt from County property tax for the term of the agreement.
An agreement adopted pursuant to this Article X shall be binding on and inure to the benefit of successive Boards of County Commissioners.
