HomeMy WebLinkAbout15645 1 RESOLUTION NO. 15,645
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF SYNTHESIA TECHNOLOGY, INC. TO
5 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM, AS
6 AUTHORIZED BY ARK. CODE ANN § 15-4-2706(D) OF THE
7 CONSOLIDATED INCENTIVE ACT OF 2003; AND FOR OTHER
8 PURPOSES.
9
10 WHEREAS,the regulations of the Arkansas Tax Back Program require local government endorsement
11 of businesses or enterprises that wish to participate in and take advantage of the program; and,
12 WHEREAS, Synthesia Technology, Inc., has been declared by the Management of the Arkansas Tax
13 Back Program to be an appropriate applicant to benefit from the features of the program in its creation of
14 at least fifty(50)new jobs and a total investment of at least Twenty-Nine Million Dollars($29,000,000.00);
15 and,
16 WHEREAS, Synthesia Technology, Inc., has agreed to furnish to the management of the Arkansas
17 Tax Back Program all information necessary to assure compliance with the terms and conditions of the
18 program.
19 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
20 OF LITTLE ROCK,ARKANSAS:
21 Section 1. The City endorses Synthesia Technology, Inc.,and the Mayor is authorized to execute any
22 required Certificate of Local Government Endorsement of Synthesia Technology, Inc.,to participate in the
23 Arkansas Tax Back Program and to be eligible to benefit from any refunds and tax credits, including City
24 Gross Receipts and Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax
25 Back Program.
26 Section 2. To the extent the City has authority to grant such authority,the Department of Finance and
27 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from
28 Synthesia Technology,Inc.,during the period of time that it participates in the Arkansas Tax Back Program.
29 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
30 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
31 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
32 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
33 resolution.
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1 Section 4. Repealer. All laws,ordinances, resolutions,or parts of the same,that are inconsistent with
2 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
3 ADOPTED: March 29,2022
4 • APPROVED:
5
6 IIPPAIllft. !—
7 usan Clerk Frank Scott,Jr., Mayor
8 APPRO I• . 0 LEGAL FORM:
9
10 .04.444,..eff kg,
11 Thomas M. Carpenter, City At r4
ney ._�
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