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14955 1 RESOLUTION NO. 14,955 2 3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT 4 ENDORSEMENT OF SOUTHWEST POWER POOL, INC., LOCATED AT 5 201 WORTHEN DRIVE,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. 9 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, Southwest Power Pool,Inc., has been declared by the management of the Arkansas Tax 13 Back Program to be an appropriate applicant to benefit from the features of the program in a total investment 14 of One Million,Three Hundred Thirty Thousand Dollars($1,330,000.00); and, 15 WHEREAS, Southwest Power Pool, Inc., agreed to furnish to the management of the Arkansas Tax 16 Back Program all information necessary to assure compliance with the terms and conditions of the program; 17 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 18 OF LITTLE ROCK,ARKANSAS: 19 Section 1. The City endorses Southwest Power Pool, Inc., and the Mayor is authorized to execute any 20 required Certificate of Local Government Endorsement of to participate in the Arkansas Tax Back Program 21 and to be eligible to benefit from any refunds and tax credits, including City gross receipts and 22 Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax Back Program. 23 Section 2. To the extent the City has authority to grant such authority,the Department of Finance and 24 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from United 25 Parcel Service,Inc., during the period of time that it participates in the Arkansas Tax Back Program. 26 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 27 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 28 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 29 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 30 resolution. parts of the 31 Section 4. Repealer. All laws,ordinances,resolutions,or same,that are inconsistent with P 32 the provisions of this resolution, are hereby repealed to the extent of such inconsistency. 33 ADOPTED: March 5,2019 [Page 1 of 21 1 i i�'.��.� APPROVED: 2 r D.v,t/_ ,:iplir- i� — 4 4.us. 1 ng : ,City Clerk Frank Scott,Jr.,Mayor 5 AP' ' S 1 D ' S TO LEGAL FORM: 6 7 G1-4A/1""-2 /ii.., 8 Thomas M.Carpenter, ity Atto' ey 9 // 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2 of 2]