11559• . •
1 RESOLUTION NO. 11.559
2
3 A RESOLUTION TO AUTHORIZE LOCAL GOVERNMENT
4 ENDORSEMENT OF CENTRAL MORTGAGE CO., LOCATED AT
5 801 BARROW ROAD, LITTLE ROCK, ARKANSAS, TO
6 PARTICIPATE IN THE ADVANTAGE ARKANSAS PROGRAM;
7 AND FOR OTHER PURPOSES.
0
9 WHEREAS, the regulations of the Advantage Arkansas Program, formerly the Arkansas
10 Enterprise Zone Program, require local government endorsement of business or enterprises that
11 wish to participate in and take advantage of the program, and
12 WHEREAS, Central Mortgage Company. has been declared by the management of the
13 Advantage Arkansas Program to be an appropriate application and benefit from the features of
14 the program, and
15 WHEREAS, Central Mortgage Company has agreed to furnish to the management of
16 the Advantage Arkansas Program all information necessary to assure compliance with the terms
17 and conditions of the program.
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
19 THE CITY OF LITTLE ROCK, ARKANSAS:
20 Section 1. The City endorses and the Mayor is authorized to execute any required
21 Certificate of Local Government Endorsement of Central Mortgage Company to participate in
22 the Advantage Arkansas Program and to be eligible to benefit from any refunds and tax credits,
23 including City gross receipts and compensating use tax credits, in accordance with the
24 regulations of the Advantage Arkansas Program.
25 Section 2. To the extent the City has authority to grant such authority, the Department of
26 Finance and Administration is authorized to refund any City sales and compensating use taxes
27 collected from Central Mortgage Company during the period of time that it participates in the
28 Program.
29
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Section 3. Severability. In the event any title, section, paragraph, 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 the 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.
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inconsistent with the provisions of this resolution, are hereby repealed to the extent of such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: August 4, 2003
ATTEST: APPROVED:
Nat Woo , City Clerk
APPROVED AS TO FORM:
Thomas M. Carpenter, City Ahbrney
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Mayo im Dailey