13378RESOLUTION NO. 13.378-A
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF RYERSON, INC., TO BE LOCATED AT 7701
5 LINDSEY ROAD, LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN
6 THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY
7 SECTION 154- 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF
8 2003); 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 program;
12 and
13 WHEREAS, Ryerson, Inc., has been declared by the management of the Arkansas Tax Back
14 Program to be an appropriate applicant to benefit from the features of the program; and
i5 WHEREAS, Ryerson, Inc., will be expanding and upgrading an existing facility and purchasing
16 machinery and equipment to be used in a plate conversion center; and
17 WHEREAS, the project will result in eighteen (18) new jobs and a total investment of
18 $7,300,000.00; and
19 WHEREAS, Ryerson, Inc., has agreed to furnish to the management of the Arkansas Tax Back
20 Program all information necessary to assure compliance with the terms and conditions of the 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 Ryerson, Inc., to participate in the Arkansas Tax Back Program and to
25 be eligible to benefit from any refunds and tax credits, including City gross receipts and compensating use
26 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 Ryerson, Inc., during the period of time that it participates in the Arkansas Tax Back Program.
30 Section 3. SeverabMity. 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
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1 resolution.
2 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
3 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
4 ADOPTED: October 18, 2011
5 ATTEST: APPROVED: /J
6
7
8 Sus L ley, City Clerk Mark Stodola, Mayor
9 AP O D AS TO LEGAL FORM:
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11 .0.4n" 1'(4 . 4!�
12 Thomas M. Carpenter, Ci Attorney
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