HomeMy WebLinkAbout15895 1 RESOLUTION NO. 15,895
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF NATURAL STATE CONCRETE SUPPLY
5 COMPANY TO PARTICIPATE IN THE ARKANSAS TAX BACK
6 PROGRAM, AS AUTHORIZED BY ARK. CODE ANN § 15-4-2706(D) OF
7 THE 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,Natural State Concrete Supply Company has been declared by the Management of the
13 Arkansas Tax Back Program to be an appropriate applicant to benefit from the features of the program in
14 its creation of at twelve(12)new jobs and a total investment of at least Two Million, One Hundred Ninety
15 Thousand, Eight Hundred Forty-Four Dollars($2,190,844.00); and,
16 WHEREAS,Natural State Concrete Supply Company has agreed to furnish to the management of the
17 Arkansas Tax Back Program all information necessary to assure compliance with the terms and conditions
18 of the 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 Natural State Concrete Supply Company and the Mayor is authorized to
22 execute any required Certificate of Local Government Endorsement of Natural State Concrete Supply
23 Company to participate in the Arkansas Tax Back Program and to be eligible to benefit from any refunds
24 and tax credits, including City Gross Receipts and Compensating Use Tax Credits, in accordance with the
25 regulations of the Arkansas Tax 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: February 21,2023
4 A T• APPROVED:
5 `I
6 fip- 1611 44/`'id 42‘.11) —Th
7 us ►`. City Clerk Frank Scott,Jr.,Mayor
8 APP'OV;Tr TO LEGAL FORM:
9
10 ‘74,141144-4.1
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11 Thomas M. Carpenter,City At ney
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