14663 1 RESOLUTION NO. 14,663
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF RING CONTAINER TECHNOLOGIES, LOCATED
5 AT 9000 FRAZIER DAM PIKE ROAD, LITTLE ROCK, ARKANSAS, TO
6 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS
7 AUTHORIZED BY ARK. CODE ANN. § 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 endorsement
12 of businesses or enterprises that wish to participate in and take advantage of the program; and,
13 WHEREAS, Ring Container Technologies, 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 in its creation
15 of at least six (6) new jobs and a total investment of at least Two Hundred Sixty-One Thousand, Eight
16 Hundred Fifty-Six Dollars($261,856.00); and,
17 WHEREAS,Ring Container Technologies, has agreed to furnish to the management of the Arkansas
18 Tax Back Program all information necessary to assure compliance with the terms and conditions of the
19 program;
20 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
21 OF LITTLE ROCK,ARKANSAS:
22 Section 1. The City endorses Ring Container Technologies, and the Mayor is authorized to execute
23 any required Certificate of Local Government Endorsement of to participate in the Arkansas Tax Back
24 Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts and
25 Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax Back Program.
26 Section 2. To the extent the City has authority to grant such authority,the Department of Finance and
27 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from Ring
28 Container Technologies, during the period of time that it participates in the Arkansas Tax Back Program.
29 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
30 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
31 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
32 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
33 resolution.
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1 Section 4. Repealer. All laws,ordinances,resolutions, or parts of the same,that are inconsistent with
2 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
3 ADOPTED: November 7,2017
1
4 _ _ 4' APPROVED: ,r
5 N / /1',/f +� --2//-
_
7/ ,, -..;e /--
7 n ►� i ey,City Clerk Mark Stodola,Mayor
8 APP: s, P AS TO LEGAL FORM:
9
10 , e,049 A.
11 Thomas M. Carpenter,City orney
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