HomeMy WebLinkAbout13942 1 RESOLUTION NO. 13,942
2 •
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF DAVIS RUBBER COMPANY, INC., LOCATED AT
5 1800 EAST 14TH STREET, 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, Davis Rubber Company, Inc., has been declared by the management of the Arkansas
14 Tax Back Program to be an appropriate applicant to benefit from the features of the program; and,
15 WHEREAS, Davis Rubber Company, Inc., will be expanding and improving an existing building
16 and purchasing machinery and equipment; and,
17 WHEREAS, the project will result in a total investment of One Million, One Hundred Ninety-Four
18 Thousand Dollars($1,194,000.00); and,
19 WHEREAS, Davis Rubber Company, Inc., has agreed to furnish to the management of the Arkansas
20 Tax Back Program all information necessary to assure compliance with the terms and conditions of the
21 program;
22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK,ARKANSAS:
24 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
25 Local Government Endorsement of Davis Rubber Company, Inc., to participate in the Arkansas Tax Back
26 Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts and
27 compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back Program.
28 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
29 and Administration is authorized to refund any City Sales and Compensating Use Taxes collected from
30 the Davis Rubber Company, Inc., during the period of time that it participates in the Arkansas Tax Back
31 Program.
32 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
33 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
[Page 1 of 2l
1 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
2 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
3 resolution.
4 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
5 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
6 ADOPTED: August 5,2014
7 ATTEST. APPROVED:
8 .
9 4 `--
10
!10 Susan la le f;,'ty Clerk Mark Stodola,Mayor
11 APPR/V DA' O LEGAL FORM:
12
13 14-0' ,
14 Thomas M. Carpente City Apo rney
15 //
16 //
17 //
18 //
19 //
20 //
21 //
22 //
23 //
24 //
25 //
26 //
27 //
28 //
29 //
30 //
31 //
32 //
33 //
1
34 // 1
35 //
(Page 2 of 21