126511 RESOLUTION NO. 12,651
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF
4 CAMERON'S VALVES £t MEASUREMENT - PROCESS VALVES - LITTLE ROCK,
5 LOCATED AT 7200 INTERSTATE 30, LITTLE ROCK, ARKANSAS, TO
6 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY
7 SECTION 15- 4- 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF 2003);
8 AND FOR OTHER PURPOSES.
9
10 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
11 endorsement of businesses or enterprises that wish to participate in and take advantage of the
12 program, and
13 WHEREAS, Cameron's Valves £t Measurement - Process Valves - Littte Rock has been declared by the
14 management of the Arkansas Tax Back Program to be an appropriate applicant to benefit from the
15 features of the program, and
16 WHEREAS, Cameron's Valves Et Measurement - Process Valves - Little Rock will purchase land and
17 expand and modernize the existing building, in addition to purchasing equipment, and
18 WHEREAS, the project will result in 50 new jobs and a total investment of $31,027,900, and
19 WHEREAS, Cameron's Valves Et Measurement - Process Valves- Little Rock has agreed to furnish to
20 the management of the Arkansas Tax Back Program all information necessary to assure compliance with
21 the terms and conditions of the program;
22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
23 ROCK, ARKANSAS:
24 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
25 Local Government Endorsement of Cameron's Valves Et Measurement - Process Valves - Little Rock to
26 participate in the Arkansas Tax Back Program and to be eligible to benefit from any refunds and tax
27 credits, including City gross receipts and compensating use tax credits, in accordance with the
28 regulations of the Arkansas Tax Back Program.
29 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
30 and Administration is authorized to refund any City sales and compensating use taxes collected from
31 Cameron's Valves Et Measurement - Process Valves - Little Rock during the period of time that it
32 participates in the Arkansas Tax Back Program.
33 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause,
34 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
35 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
[PAGE 1 OF 2]
Resolution
To endorse Cameron's Valves & Measurement - Process Valves- Little Rock
to participate In the Tax Back Program
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
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 into sistency.
ADOPTED: February 19, 2008
ATTEST:
�l� rk
Nanc Wood, ity Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Attor*y
PAGE 2 OF 2]
Resolution
To endorse Cameron's Valves Ft Measurement - Process Valves - Little Rock
to participate In the Tax Back Program
fflAW
Mark Stodola, Mayor