14067 1 RESOLUTION NO. 14,067
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF GRANDEUR FASTENERS, INC., TO BE LOCATED
5 AT 2200 145TH STREET, LITTLE ROCK, ARKANSAS, TO
6 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS
7 AUTHORIZED BY SECTION 15-4-2706(D) OF THE CONSOLIDATED
8 INCENTIVE ACT OF 2003); AND FOR OTHER PURPOSES.
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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, Grandeur Fasteners, Inc., has been declared by the management of the Arkansas Tax
14 Back Program to be an appropriate applicant to benefit from the features of the program; and,
15 WHEREAS, Grandeur Fasteners, Inc., will be expanding and modernizing an existing building, and
16 purchasing equipment; and,
17 WHEREAS,the project will result in nine (9)to fourteen (14) new jobs and a total investment of Six
18 Hundred Fifty-Six Thousand Dollars($656,000.00); and,
19 WHEREAS,Grandeur Fasteners, Inc., has agreed to furnish to the management of the Arkansas Tax
20 Back Program all information necessary to assure compliance with the terms and conditions of the
21 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 Grandeur Fasteners, Inc., to participate in the Arkansas Tax Back
26 Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts and
27 Sales and Compensating Use Tax credits, in accordance with the regulations of the Arkansas Tax Back
28 Program.
29 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
30 and Administration is authorized to refund any City sales and Compensating Use Taxes collected from
31 the Grandeur Fasteners, Inc., during the period of time that it participates in the Arkansas Tax Back
32 Program.
33 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
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1 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
2 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
3 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
4 resolution.
5 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
6 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
7 ADOPTED: February 24,2015
8 ATTEST: APPROVE .
9 1114 API
11 'us. ey,City Clerk Mark Stodola,Mayor
12 APP' : D AS TO LEGAL FORM:
13 /D
14 /
15 Thomas M. Carpenter,City Attorne v
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