128061
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
RESOLUTION NO. 12,806
A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF
WELSPUN TUBULAR LLC, LOCATED AT 9301 FRAZIER PIKE, LITTLE ROCK,
ARKANSAS, TO PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS
AUTHORIZED BY SECTION 15- 4- 2706(D) OF THE CONSOLIDATED INCENTIVE
ACT OF 2003); AND FOR OTHER PURPOSES.
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, Welspun Tubular LLC 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, Welspun Tubular LLC will purchase land and construct a building, and purchase
machinery and equipment for the manufacture of pipe, and
WHEREAS, the project will result in 300 new jobs and a total investment of $100,000,000.00, and
WHEREAS Welspun Tubular LLC 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 Welspun Tubular LLC 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
Welspun Tubular LLC 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
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.
[PAGE 1 OF 2]
Resolution
To endorse Welspun Tubular LLC
to participate In the Tax Back Program
I ADOPTED: December 22, 2008
2 ATTEST:
3 lv
4
5 Narky Wood, City Clerk
6
7 APPROVED AS TO LEGAL FORM:
9
10 Thomas M. Carpenter, City Attorn
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
Resolution
To endorse Welspun Tubular LLC
to participate In the Tax Back Program
APPROVED:
Mark Stodola, Mayor
[PAGE 2 OF 2]