13826 1 RESOLUTION NO. 13,826
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF RING CONTAINER TECHNOLOGIES, LLC,
5 LOCATED AT 9000 FRAZIER PIKE, 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, Ring Container Technologies, LLC, has been declared by the management of the
14 Arkansas Tax Back Program to be an appropriate applicant to benefit from the features of the program;
15 and,
16 WHEREAS, Ring Container Technologies, LLC, will be expanding an existing facility, by an
17 expansion of 50,000 square feet on an existing manufacturing building; and,
18 WHEREAS, the project will require a total investment of Two Million, Five Hundred Thousand
19 Dollars($2,500,000.00); and,
20 WHEREAS, Ring Container Technologies, LLC, has agreed to furnish to the management of the
21 Arkansas Tax Back Program all information necessary to assure compliance with the terms and
22 conditions of the program;
23 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
24 OF LITTLE ROCK,ARKANSAS:
25 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
26 Local Government Endorsement of Ring Container Technologies, LLC, to participate in the Arkansas
27 Tax Back Program and to be eligible to benefit from any refunds and tax credits, including City gross
28 receipts and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back
29 Program.
30 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
31 and Administration is authorized to refund any City Sales and Compensating Use Taxes collected from
32 the Ring Container Technologies, LLC, during the period of time that it participates in the Arkansas Tax
33 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 inconsistency.
8 ADOPTED: January 21,2014
9 A TE . APPROV .
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11 adA
12 SGsad'L. . ,City Clerk Mark Stodora,Rayor
13 APPR 11 . S TO LEGAL FORM:
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16 Thomas M. Carpenter,'City Att rney''
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