15231 1 RESOLUTION NO. 15,231
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF ARCTURUS, INC., D/B/A ARCTURUS
5 AEROSPACE, LOCATED AT 11225 HIGHWAY INTERSTATE 30,
6 LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN THE ARKANSAS
7 TAX BACK PROGRAM,AS AUTHORIZED BY ARK. CODE ANN. § 15-4-
8 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF 2003; AND FOR
9 OTHER 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, Arcturus Inc., d/b/a Arcturus Aerospace, has been declared by the Management of the
14 Arkansas Tax Back Program to be an appropriate applicant to benefit from the features of the program in
15 its creation of at least six (6) new jobs and a total investment of at least Two Hundred Fifty Thousand
16 Dollars($250,000.00); and,
17 WHEREAS,Arcturus Inc.,d/b/a Arcturus Aerospace,has agreed to furnish to the management of the
18 Arkansas Tax Back Program all information necessary to assure compliance with the terms and conditions
19 of the 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 Arcturus Inc.,d/b/a Arcturus Aerospace,and the Mayor is authorized to
23 execute any required Certificate of Local Government Endorsement of to participate in the Arkansas Tax
24 Back Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
25 and 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 Arcturus
28 Inc., d/b/a Arcturus Aerospace, during the period of time that it participates in the Arkansas Tax Back
29 Program.
30 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
31 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
32 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
33 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
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1 resolution.
2 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
3 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
4 ADOPTED: June 9,2020
5 AT .It
APPROVED:
6
q-4v-t-
8 Susan3. e.llik Clerk Frank Scott,Jr.,M or
9 APPRI ,1 A 1 LEGAL FORM:
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11 4t
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12 Thomas M. Carpenter, City Atto y
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