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HomeMy WebLinkAbout14794 RESOLUTION NO. 114,794 2 3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT 4 ENDORSEMENT OF GEORG FISCHER HARVEL, LLC, A WHOLLY- 5 OWNED SUBSIDIARY OF GEORG FISHER, LTD., LOCATED AT 7777 6 SLOANE DRIVE, LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN 7 THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY ARK. 8 CODE ANN. § 15-4-2706(D) OF THE CONSOLIDATED INCENTIVE ACT 9 OF 2003); AND FOR OTHER 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, Georg Fischer Harvel, LLC, a Wholly-Owned Subsidiary of Georg Fisher, LTD, has 14 been declared by the management of the Arkansas Tax Back Program to be an appropriate applicant to 15 benefit from the features of the program in its creation of four(4) new jobs and a total investment of Six 16 Hundred Thirty-Six Thousand Dollars($636,000.00); and, 17 WHEREAS, Georg Fischer Harvel,LLC, a Wholly-Owned Subsidiary of Georg Fisher, LTD, agrees 18 to furnish to the management of the Arkansas Tax Back Program any and all information necessary to 19 assure compliance with the terms and conditions of the Arkansas Consolidated Incentive Act of 2003 20 Incentive Application Program; 21 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 22 OF LITTLE ROCK,ARKANSAS: 23 Section 1. The City endorses Georg Fischer Harvel, LLC, a Wholly-Owned Subsidiary of Georg 24 Fisher, LTD, and the Mayor is authorized to execute any required Certificate of Local Government 25 Endorsement of to participate in the Arkansas Tax Back Program and to be eligible to benefit from any 26 refunds and tax credits, including City gross receipts and Compensating Use Tax Credits, in accordance 27 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 and 29 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from Georg 30 Fischer Harvel, LLC, a Wholly-Owned Subsidiary of Georg Fisher, LTD, during the period of time that it 31 participates in the Arkansas Tax Back 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 2] 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 with 5 the provisions of this resolution,are hereby repealed to the extent of such inconsistency. 6 ADOPTED: June 5,2018 7 ATT�._ ," APPROVED: 8 `1 Ali / � / , / 9 err 10 "'!'!_'I.►�'T!gle City Clerk Mark Stodola,Mayor 11 APP Ili,I ii L.0_.. S TO LEGAL FORM: 12 / 13 / 14 Thomas M. Carpenter, ty Attor:y 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2 of 2]