14192 1 RESOLUTION NO. 14,192
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF MARTIAL ARTS SERVICES, INC., TO BE
5 LOCATED AT 1800 RIVERFRONT DRIVE, LITTLE ROCK,
6 ARKANSAS, TO PARTICIPATE IN THE ARKANSAS TAX BACK
7 PROGRAM (AS AUTHORIZED BY SECTION 15-4-2706(D) OF THE
8 CONSOLIDATED INCENTIVE ACT OF 2003); AND FOR OTHER
9 PURPOSES.
10
11 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
12 endorsement of businesses or enterprises that wish to participate in and take advantage of the program;
13 and,
14 WHEREAS, Martial Arts Services, Inc., has been declared by the management of the Arkansas Tax
15 Back Program to be an appropriate applicant to benefit from the features of the program; and,
16 WHEREAS, Martial Arts Services, Inc., will be purchasing land, constructing a building, and
17 purchasing equipment; and,
18 WHEREAS, the project will result in eight (8) new jobs and a total investment of Twelve Million,
19 Six Hundred Twenty-Five Thousand Dollars ($12,625,000.00); and,
20 WHEREAS, Martial Arts Services, Inc., has agreed to furnish to the management of the Arkansas
21 Tax Back Program all information necessary to assure compliance with the terms and conditions of the
22 program;
23 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
24 OF LITTLE ROCK,ARKANSAS:
25 Section 1. The City endorses Martial Arts Services, Inc., and the Mayor is authorized to execute any
26 required Certificate of Local Government Endorsement of Martial Arts Services, Inc. to participate in the
27 Arkansas Tax Back Program and to be eligible to benefit from any refunds and tax credits, including City
28 gross receipts and compensating use tax credits, in accordance with the regulations of the Arkansas Tax
29 Back Program.
30 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
31 and Administration is authorized to refund any City Sales and Compensating Use Taxes collected from
32 the Martial Arts Services, Inc., during the period of time that it participates in the Arkansas Tax Back
33 Program.
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1 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
2 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
3 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
4 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
5 resolution.
6 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
7 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
8 ADOPTED: September 15,2015
9 ATTEST. APPROVED:
10 IN
11 �AS �' / ;f.....‘ .
12 Su
lit
T •ng : , City Clerk Mark Stodola,Mayor
13 AP' I °1 • S TO LEGAL FORM:
14 1 4
15 , A-PIA-d-'11 AU,"
16 Thomas M. Carpenter, City Atto i .
17 /l
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