HomeMy WebLinkAbout14173 1 RESOLUTION NO. 14,173
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF BEAUDET AVIATION, INC., TO BE LOCATED AT
5 6001 LINDSEY ROAD, LITTLE ROCK, ARKANSAS, TO PARTICIPATE
6 IN THE ARKANSAS TAX BACK PROGRAMAS AUTHORIZED D BY
7 SECTION 15-4-2706(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, Beaudet Aviation, Inc., has been declared by the management of the Arkansas Tax
14 Back Program to be an appropriate applicant to benefit from the features of the program; and,
15 WHEREAS, Beaudet Aviation, Inc., will be expanding the existing facility with new construction
16 and purchasing machinery and equipment;and,
17 WHEREAS, the project will result in eighty-five (85) new jobs and a total investment of Four
18 Million Dollars($4,000,000.00); and,
19 WHEREAS, Beaudet Aviation, Inc., has agreed to furnish to the management of the Arkansas Tax
20 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 Beaudet Aviation, 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 Beaudet Aviation,Inc., during the period of time that it participates in the Arkansas Tax Back Program.
31 Section 3. Severability. In the event any title, section, paragraph, item sentence, clause, phrase,P , ro
32 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
33 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
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1 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
2 resolution.
3 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
4 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
5 ADOPTED: August 18,2015
6 ATT . • APPROVE :
i
9 ,41 a Ile ity Clerk
Mark Stodola,Mayor
10 APP S D AS O LEGAL FORM:
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12 Oma. / 0. 14E-
13 Thomas Si. Carpent• , i' Attorni
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