13746 1 RESOLUTION NO. 13,746
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF MIDWEST INDEPENDENT TRANSMISION
5 OPERATOR, INC., P.O. BOX 4202, LITTLE ROCK, ARKANSAS, TO
6 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS
7 AUTHORIZED BY SECTION 15-4-2706(D) OF THE CONSOLIDATED
8 INCENTIVE ACT OF 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, Midwest Independent Transmission Operator, Inc., 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, Midwest Independent Transmission Operator, Inc., will be purchasing developed land
17 for the construction of a multi-use single-story facility and machinery and equipment for operations
18 support of the Bulk Electric System in the MISO Southern Region; and,
19 WHEREAS, the project will result in sixty (60) new jobs and a total investment of Fifteen Million
20 Dollars($15,000,000.00); and,
21 WHEREAS, Midwest Independent Transmission Operator, Inc., has agreed to furnish to the
22 management of the Arkansas Tax Back Program all information necessary to assure compliance with the
23 terms and conditions of the program;
24 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
25 OF LITTLE ROCK,ARKANSAS:
26 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
27 Local Government Endorsement of Midwest Independent Transmission Operator, Inc. to participate in the
28 Arkansas Tax Back Program and to be eligible to benefit from any refunds and tax credits, including City
29 gross receipts and compensating use tax credits, in accordance with the regulations of the Arkansas Tax
30 Back Program.
31 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
32 and Administration is authorized to refund any City sales and compensating use taxes collected from the
33 Midwest Independent Transmission Operator, Inc. during the period of time that it participates in the
34 Arkansas Tax Back Program.
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1 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
2 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
3 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
4 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
5 resolution.
6 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
7 with the provisions of this resolution, are hereby repealed to the extent of such inconsis ency.
8 ADOPTED: August 6,2013
9 ATTEST: APPROVED:
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12 $usad City Clerk Mark Stodola,Mayor
13 APPUli , AS TO LEGAL FORM:
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16 Thomas M. Carpenter,City Attornq
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