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15495 1 RESOLUTION NO. 15,495 2 3 A RESOLUTION TO ENDORSE SEQURETEK, INC., FOR 4 PARTICIPATION IN AUTHORIZED BY THE CONSOLIDATED 5 INCENTIVE ACT OF 2003; TO SPECIFY THAT THE ARKANSAS 6 DEPARTMENT OF FINANCE AND ADMINISETRATION IS 7 AUTHORIZED TO MAKE APPROPRIATE REFUNDS IN ACCORDANCE 8 WITH THE ACT TO SEQURETECK, INC.; AND FOR OTHER 9 PURPOSES. 10 11 WHEREAS, Sequretek, Inc., has applied to the Arkansas Department of Finance and Administration 12 for Economic Development Incentives authorized by the Consolidated Incentive Act of 2003; and, 13 WHEREAS, Ark. Code Ann. § 15-4-2706 requires the Local Governing Body to endorse this 14 application; and, 15 WHEREAS,the City of Little Rock, Arkansas,welcomes a business that from a present employment 16 of three(3)individuals there will expand to twenty-eight(28)employees involved in software development 17 with an anticipated payroll increase of Five Hundred Thousand Dollars($500,000.00). 18 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 19 OF LITTLE ROCK,ARKANSAS: 20 Section 1. The Mayor and Board of Directors of the City of Little Rock, Arkansas, pursuant to the 21 requirements of Ark. Code Ann. §§ 15-4-2706 (d) and (e), endorse the application of Sequretek, Inc., for 22 participation in the Consolidated Incentive Act of 2003. 23 Section 2. The Mayor and Board of Directors of the City of Little Rock, Arkansas, pursuant to the 24 requirements of Ark. Code Ann. §§ 15-4-2706(d)and(e),authorizes the Arkansas Department of Finance 25 and Administration to provide any local and sales tax refunds to Sequretek, Inc., as appropriate under the 26 provisions of Consolidated Incentive Act of 2003. 27 Section 3. The Mayor, City Manager and City Clerk, are authorized to execute any documents 28 necessary, or to prepare any correspondence necessary, to transmit these endorsements to the Arkansas 29 Department of Finance and Administration in accordance with the Consolidated Incentive Act of 2003. 30 Section 4. Severability. In the event any title,paragraph, item,sentence,clause,phrase,or word of this 31 resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adjudication shall 32 not affect the remaining portions of the resolution which shall remain in full force and effect as if the portion 33 so declared or adjudged invalid or unconstitutional were not originally a part of the resolution. [Page 1 of 2J 1 Section 4.Repealer. All laws,ordinances,resolutions,or parts of the same,which are inconsistent with 2 the provisions of this resolution are hereby repealed to the extent of such inconsistency. 3 ADOPTED: July 6,2021 4 AT APPROVED: 5 .10 7 u I r :ngley,City Clerk Frank Scott,Jr.,Mayor 8 AP"O D AS TO LEGAL FORM: 9 10 *1414-441 11 l . ,s--- 11 Thomas M. Carpenter, City Att rney 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2 of 21