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RESOLUTION NO. 14,776
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF JOSEPH T. RYERSON & SON, INC., LOCATED AT
5 7701 LINDSEY ROAD, LITTLE ROCK, ARKANSAS, TO PARTICIPATE
6 IN THE ARKANSAS TAX BACK PROGRAM (AS.AUTHORIZED BY ARK.
7 CODE ANN. § 15-4-2706(D) OF THE CONSOLIDATED INCENTIVE ACT
8 OF 2003); AND FOR OTHER PURPOSES.
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10 WHEREAS, the regulations of the Arkansas Tax Back Program require local government endorsement
11 of businesses or enterprises that wish to participate in and take advantage of the program; and,
12 WHEREAS, Joseph T. Ryerson & Son, Inc., has been declared by the management of the Arkansas
13 Tax Back Program to be an appropriate applicant to benefit from the features of the program in its creation
14 of fifteen (15) new jobs and a total investment of Seven Hundred Eighty Thousand Dollars ($780,000.00);
15 and,
16 WHEREAS, Joseph T. Ryerson & Son, Inc., agrees to furnish to the management of the Arkansas Tax
17 Back Program any and all information necessary to assure compliance with the terms and conditions of the
18 Arkansas Consolidated Incentive Act of 2003 Incentive Application Program;
19 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
20 OF LITTLE ROCK, ARKANSAS:
21 Section 1. The City endorses Joseph T. Ryerson & Son, Inc., and the Mayor is authorized to execute
22 any required Certificate of Local Government Endorsement of to participate in the Arkansas Tax Back
23 Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts and
24 Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax Back Program.
25 Section 2. To the extent the City has authority to grant such authority, the Department of Finance and
26 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from Joseph
27 T. Ryerson & Son, Inc., during the period of time that it participates in the Arkansas Tax Back Program.
28 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
29 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
30 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
31 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
32 resolution.
33 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent with
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the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
ADOPTED: May 1, 2018
ATT APPROVED:
LEGAL FORM:
Thomas M. Carpenter, City
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Mark Stodola, Mayor
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