HomeMy WebLinkAbout14573 1 RESOLUTION NO. 14,573
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORESEMTN OF SPEKTRON SYSTEMS, LLC, LOCATED AT 400
5 WEST CAPITOL AVENUE, SUITE 1727, LITTLE ROCK, ARKANSAS,
6 TO PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAMS, AS
7 AUTHORIZED BY ARK., CODE ANN. §15-4-2706 (D) OF THE
8 CONSOLIDATED INCENTIVE ACT OF 2003; AND FOR OTHER
9 PURPOSES.
10
11 WHEREAS,the regulations of the Arkansas Tax Back Program require local government endorsement
12 of businesses or enterprises that wish to participate in and take advantage of the program; and,
13 WHEREAS, SpektronSystems, LLC, 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 in its creation of
15 ten(10)new jobs and a total investment of Seven Hundred Fifty Thousand Dollars($750,000.00); and,
16 WHEREAS, SpektronSystems, LLC, has agreed to furnish to the management of the Arkansas Tax
17 Back Program all information necessary to assure compliance with the terms and conditions of the program;
18 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK,ARKANSAS:
20 Section 1. The City endorses SpektronSystems, LLC, and the Mayor is authorized to execute any
21 required Certificate of Local Government Endorsement of to participate in the Arkansas Tax Back Program
22 and to be eligible to benefit from any refunds and tax credits, including City gross receipts and
23 Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax Back Program.
24 Section 2. To the extent the City has authority to grant such authority, the Department of Finance and
25 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from
26 SpektronSystems, LLC, during the period of time that it participates in the Arkansas Tax Back Program.
27 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
29 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
31 resolution.
32 Section 4. Repealer. All laws,ordinances, resolutions,or parts of the same,that are inconsistent with
33 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
[Page I of 21
1 ADOPTED: June 6,2017
2 ATT APPROVED• Azle_
3 IS
4 ���1 ,
11
5 Susa rk ,City Clerk Mark Stodola, Mayor
6 APP' S TO LEGAL FORM:
7
8 I 11,0vl"-e"2
9 Thomas M. Carpenter,City Atto y
10 //
11 //
12 //
13 //
14 //
15 //
16 //
17 //
18 //
19 //
20 //
21 //
22 //
23 //
24 //
25 //
26 //
27 //
28 //
29 //
30 //
31 //
32 //
33 //
34 //
35 //
IPage2of2I