13924 1 RESOLUTION NO. 13,924
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF DASSAULT FALCON JET CORPORATION, 3801
5 EAST 10TH STREET, LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN
6 THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY
7 SECTION 15-4-2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF
8 2003); AND FOR OTHER PURPOSES.
9
10 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
11 endorsement of businesses or enterprises that wish to participate in and take advantage of the program;
12 and,
13 WHEREAS, Dassault Falcon Jet Corporation has been declared by the management of the Arkansas
14 Tax Back Program to be an appropriate applicant to benefit from the features of the program; and,
15 WHEREAS, Dassault Falcon Jet Corporation will be constructing a new building and expanding and
16 modernizing an existing facility; and,
17 WHEREAS, the project will result in a total investment of Sixty Million Dollars ($60,000,000.00);
18 and,
19 WHEREAS, Dassault Falcon Jet Corporation has agreed to furnish to the management of the
20 Arkansas Tax Back Program all information necessary to assure compliance with the terms and
21 conditions of the program;
22 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK,ARKANSAS:
24 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
25 Local Government Endorsement of Dassault Falcon Jet Corporation to participate in the Arkansas Tax
26 Back Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
27 and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back Program.
28 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
29 and Administration is authorized to refund any City Sales and Compensating Use Taxes collected from
30 the Dassault Falcon Jet Corporation during the period of time that it participates in the Arkansas Tax
31 Back Program.
32 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
33 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
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1 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
2 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
3 resolution.
4 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
5 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
6 ADOPTED: July 15,2014
7 ATTEST APPROVE :
9 4/h."-w . A'
10 us I g ,City Clerk Mark Stodola,M.yor
11 APPRBV�AS TO LEGAL FORM:
12
13 1141",``n
14 Thomas M. Carpenter;City it(ttor*ney
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