124871 RESOLUTION NO. 12,487
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF BOYD
4 METALS OF LITTLE ROCK, INC., LOCATED AT 600 BOND STREET, TO
5 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY
6 SECTION 15- 4- 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF 2003);
7 AND FOR OTHER PURPOSES.
N.
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WHEREAS, the regulations of the Arkansas Tax Back Program require local government
endorsement of businesses or enterprises that wish to participate in and take advantage of the
program, and
WHEREAS, Boyd Metals of Little Rock, Inc. has been declared by the management of the
Arkansas Tax Back Program to be an appropriate applicant to benefit from the features of the program,
and
WHEREAS, Boyd Metals of Little Rock, Inc. will initially lease a facility to be used for a full -line
metals service distribution center and will purchase machinery and equipment for the operation of
such center, and
WHEREAS, the project will result in 20 new jobs and a total investment of $300,000, and
WHEREAS, Boyd Metals of Little Rock, Inc. has agreed to furnish to the management of the
Arkansas Tax Back 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 of Boyd Metals of Little Rock, Inc. to participate in the Arkansas
Tax Back 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 Arkansas Tax Back
Program.
Section 2. To the extent 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 Boyd Metals of Little Rock, Inc. during the period of time that it participates in the Arkansas Tax
Back Program.
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
[PAGE 1 OF 2]
Resolution
To endorse Boyd Metals of Little Rock, Inc. to participate
In the Tax Back Program
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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: April 17, 2007
ATTEST:
Nanc Wood, C' y Clerk
APPROVED AS TO LEGAL FORM:
• t�
Thomas M. Carpenter, City Attorvy
Resolution
To endorse Boyd Metals of Little Rock, Inc. to participate
In the Tax Back Program
[PAGE 2 OF 2]
APPROVED:
Mark Stodola, Mayor