HomeMy WebLinkAbout15555 1 RESOLUTION NO. 15,555
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF TREX COMPANY,INC.,TO PARTICIPATE IN THE
5 ARKANSAS TAX BACK PROGRAM, AS AUTHORIZED BY ARK. CODE
6 ANN. § 15-4-2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF
7 2003; AND FOR OTHER PURPOSES.
8
9 WHEREAS,the regulations of the Arkansas Tax Back Program require local government endorsement
10 of businesses or enterprises that wish to participate in and take advantage of the program; and,
11 WHEREAS,TREX Company, Inc., has been declared by the Management of the Arkansas Tax Back
12 Program to be an appropriate applicant to benefit from the features of the program in its creation of at least
13 542 new jobs and a total investment of at least Three Hundred Ninety-Six Million, Seven Hundred Fifty
14 Thousand Dollars($396,750,000.00);and,
15 WHEREAS, TREX Company, Inc., has agreed to furnish to the management of the Arkansas Tax
16 Back Program all information necessary to assure compliance with the terms and conditions of the program.
17 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
18 OF LITTLE ROCK,ARKANSAS:
19 Section 1. The City endorses TREX Company, Inc., and the Mayor is authorized to execute any
20 required Certificate of Local Government Endorsement of to participate in the Arkansas Tax Back Program
21 and to be eligible to benefit from any refunds and tax credits, including City gross receipts and Sales and
22 Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax Back Program.
23 Section 2. To the extent the City has authority to grant such authority,the Department of Finance and
24 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from TREX
25 Company,Inc.,during the period of time that it participates in the Arkansas Tax Back Program.
26 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
27 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
28 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
29 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
30 resolution.
31 Section 4. Repealer. All laws,ordinances, resolutions,or parts of the same,that are inconsistent with
32 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
33 ADOPTED: October 26,2021
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1 AT APPROVED:
2 tra
3 W/��i� AI&
4 S san _ :�,C%irk rank Scott,Jr.,M.yor
5 APPRO I AS T 0 GAL FORM:
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7 144,44-44.7 't/l .
8 Thomas M. Carpenter, City Atto ey
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