14183 1
RESOLUTION NO. 14,183
2
3 A RESOLUTION TO APPROPRIATE FIVE HUNDRED THOUSAND
4 DOLLARS ($500,000.00) FROM THE ECONOMIC DEVELOPMENT
5 FUND OF THE 3/8-CENT SALES AND COMPENSATING USE TAX RE-
6 CEIPTS FOR DASSAULT FALCON JET TO CONSTRUCT
7 INFRASTRUCTURE ON PROPERTY CONTROLLED BY THE LITTLE
8 ROCK AIRPORT COMMISSION; AND FOR OTHER PURPOSES.
9
10 WHEREAS,Dassault Falcon Jet is engaged in economic development projects at the Bill and Hillary
11 Clinton National Airport,and are participating in the Governor's Quick Action Fund through the Arkansas
12 Economic Development Commission; and,
13 WHEREAS,an Economic Development Fund with an emphasis on job creation was a stated desire for
14 the use of the proceeds of the 3/8-Cent Capital Improvement Sales and Compensating Use Tax;
15 NOW, THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
16 OF LITTLE ROCK,ARKANSAS:
17 Section 1. The City Manager is authorized to commit Five Hundred Thousand Dollars($500,000.00),
18 for Economic Development Capital Improvement Projects by Dassault Falcon Jet at the Bill and Hillary
19 Clinton National Airport.
20 Section 2. These funds are available in Account No.TS 10A03.
21 Section 3. The funds,to be used only for capital improvements and infrastructure improvements, are
22 to be used as matching funds for a One Million, Five Hundred Thousand Dollar($1,500,000) grant from
23 the Arkansas Economic Development Commission's Governor's Quick Action Closing Fund.
24 Section 4. To the extent that any documents need to be executed in association with this appropriation,
25 the Mayor,City Manager, and City Clerk,and any other necessary City officials,are authorized to execute
26 all necessary documents.
27 Section 5. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adju-
29 dication shall not affect the remaining portions of the resolution which shall remain in full force and effect
30 as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the reso-
31 lution.
32 Section 6. Repealer. All laws, ordinances, resolutions,or parts of the same,that are inconsistent with
33 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: September 15,2015
2 ATTE {- APPROVED:
3 N
A /
4 wAiliP
5 S an i.n ey,City Clerk Mark Stodola,Mayor
6 AP' 'O . D S TO LEGAL FORM:
7
9 Thomas M. Carpenter, City Attorne
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