124831 RESOLUTION NO. 121483
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF NOVUS
4 ARKANSAS, LLC, LOCATED AT 7920 SLOANE DRIVE, TO PARTICIPATE IN THE
5 ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY SECTION 15- 4- 2706(D)
6 OF THE CONSOLIDATED INCENTIVE ACT OF 2003); AND FOR OTHER
7 PURPOSES.
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9 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
10 endorsement of businesses or enterprises that wish to participate in and take advantage of the
11 program, and
12 WHEREAS, Novus Arkansas, LLC 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, and
14 WHEREAS, Novus Arkansas, LLC will purchase fifteen acres of land and construct a
15 manufacturing facility, including raw material storage, process structure, product packaging building
16 and a warehouse, to produce an animal feed ingredient for sales throughout the world, and
17 WHEREAS, the project will result in 20 new jobs and a total investment of $15,000,000, and
18 WHEREAS, Novus Arkansas, LLC has agreed to furnish to the management of the Arkansas Tax
19 Back Program all information necessary to assure compliance with the terms and conditions of the
20 program;
21 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
22 ROCK, ARKANSAS:
23 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate
24 of Local Government Endorsement of Novus Arkansas, LLC to participate in the Arkansas Tax Back
25 Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
26 and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back
27 Program.
28 Section 2. To the extent the City has authority to grant such authority, the Department of
29 Finance and Administration is authorized to refund any City sales and compensating use taxes collected
30 from Novus Arkansas, LLC during the period of time that it participates in the Arkansas Tax Back
31 Program.
32 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause,
33 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
34 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
35 in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
36 originally a part of the resolution.
[PAGE 1 OF 2]
Resolution
To endorse Novus Arkansas, LLC to participate
In the Tax Back Program
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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: April 17, 2007
ATTEST:
Nan y Wood, ity Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City At rney
Resolution
To endorse Novus Arkansas, LLC to participate
In the Tax Back Program
[PAGE 2 OF 2]
APPROVED:
Mark Stodola, Mayor