13070Fees 0
1 RESOLUTION NO. 13,070
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF "' C)�� C,
4 CENTURY INDUSTRIES, INC., LOCATED AT 2300 EAST 145TH STRE1t��'
5 LITTLE ROCK, ARKANSAS 72206, TO PARTICIPATE IN THE ARKANSAS j
6 TAX BACK PROGRAM (AS AUTHORIZED BY SECTION 15- 4- 2706(D) OF TH •,
7 CONSOLIDATED INCENTIVE ACT OF 2003); AND FOR OTHER PURPOSES.
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 program,
11 and
12 WHEREAS, Century Industries, Inc. 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, Century Industries, Inc. will be purchasing land and an existing building, renovating the
15 building, and purchasing equipment to be used in the manufacture of attic stairs to be supplied to retailers
16 for re -sale, and
17 WHEREAS, the project will result in 10 -15 new jobs and a total investment of $249,600.00, and
18 WHEREAS, Century Industries, Inc. 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
22 OF LITTLE ROCK, ARKANSAS:
23 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
24 Local Government Endorsement of Century Industries, Inc. 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 and
26 compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back Program.
27 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
28 and Administration is authorized to refund any City sales and compensating use taxes collected from
29 Century Industries, Inc. during the period of time that it participates in the Arkansas Tax Back Program.
30 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
31 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
32 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
33 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
34 resolution.
[PAGE 1 OF 21
Resolution
To endorse Century Industries, Inc.
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 inconsi envy.
ADOPTED: January 19, 2010
ATTEST: APPROVEDW
S san On t y, Acting City Clerk Mark Stodola, Mayor
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City rney
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[PAGE 2 OF 2]
Resolution
To endorse Arkansas Genomics, LLC to participate In the Tax Back Program