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RESOLUTION NO. 11.162
A RESOLUTION TO AUTHORIZE LOCAL GOVERNMENT ENDORSEMENT
OF LIFE INVESTORS INSURANCE COMPANIES OF AMERICA, TO
PARTICIPATE IN THE ADVANTAGE ARKANSAS PROGRAM; AND FOR
OTHER PURPOSES.
WHEREAS, the regulations of the Advantage Arkansas program, formerly the Arkansas
enterprise Zone program, require local government endorsement of business or enterprise
that wishes to participate in, and take advantage of the program, and
WHEREAS, this endorsement is required to be on specific forms supplied by the
Arkansas Industrial Development Commission, and
WHEREAS, Life Investors Insurance Companies of America, located at Centerview
and Executive Drive, Little Rock, Arkansas, has been declared by the management of the
Advantage Arkansas Program to be an appropriate applicant to participate in, and benefit
from, the features of the program, and
WHEREAS, Life Investors Insurance Companies of America has agreed to furnish to
the management of the Advantage Arkansas Program, all information necessary to assure
compliance with the terms and conditions of the program.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. The City endorses, and the Mayor is authorized to execute any
required Certificate of Local Government Endorsement, Life Investors Insurance
Companies of America, to participate in the Advantage Arkansas Program, and to be
eligible to benefit from any refunds and tax credits, including City gross receipts and
compensating use tax credits, in accordance with the regulations of the Advantage
Arkansas Program.
Section 2. To the extend the City has authority to grant such authority, the
Department of Finance and Administration is authorized to refund any City sales and
compensating use taxes collected from Life Investors Insurance Companies of
America, during the period of time that it participates in the Advantage Arkansas
program.
Section 3. Severability. In the event any section, subsection, subdivision,
paragraph, subparagraph, item, sentence, clause, phrase, or word of this resolution is
declared or adjudged to be invalid or unconstitutional, such declaration or adjudication
shall not affect remaining portions of the resolution which shall remain in full force and
effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of the resolution.
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Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that
are inconsistent with the provisions of this resolution are hereby repealed to the extent of
such inconsistency.
ADOPTED: Nov. 20, 2001
APPROVED
a cy WQ4fd, City Clerk
ATTEST:
uL 60at e
AidDailey, Mayor