HomeMy WebLinkAbout16119 1 RESOLUTION NO. 16,119
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO EXPEND
4 THE SUM OF TWO MILLION DOLLARS ($2,000,000.00) IN ECONOMIC
5 DEVELOPMENT FUNDS TO ASSIST WITH DEVELOPMENT OF THE
6 PORT SUPERSITE WITHIN THE LITTLE ROCK PORT; AND FOR
7 OTHER PURPOSES.
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9 WHEREAS, the City of Little Rock, Arkansas ("City"), created the Little Rock Port Authority
10 pursuant to the authority granted to it by Ark. Code Ann. § 14-186-203, by means of Little Rock, Ark.,
11 Ordinance No. 10,957(July 6, 1959),which is codified at Little Rock,Ark.,Rev.Code§25-1 (1988);and,
12 WHEREAS, State Statute enables the City to take actions and to expend funds for economic
13 development through a port authority, and to help build improvements"in or near any city or town in the
14 State of Arkansas," Ark. Code Ann. § 14-186-204(a)(1), and also to promote improvements
15 "within or without the corporate limits of the city,"Ark. Code Ann. § 14-186-205; and,
16 WHEREAS,the City's Board of Directors passed a Comprehensive Budget for the City for the Fiscal
17 Year 2022 by means of Little Rock, Ark.,Ordinance No. 22,079(December 21,2021);and,
18 WHEREAS,on March 7,2023,the Board of Directors approved adjustments to the Budget by means
19 of Ordinance No.22,234; and,
20 WHEREAS,the approved adjustments to the Budget included an allocation Economic Development
21 Funds in the amount of Fourteen Million, Seven Hundred Fifty-Three Thousand, Eight Hundred Thirty-
22 Three Dollars ($14,753,833.00), to help develop the Little Rock Port Authority, to promote jobs and
23 economic development in the City;and,
24 WHEREAS,a sum of Two Million Dollars($2,000,000.00)is included in the Economic Development
25 Funds to develop the Port Authority Supersite.
26 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
27 OF LITTLE ROCK,ARKANSAS:
28 Section 1. The City Manager is authorized to expend the sum of Two Million Dollars($2,000,000.00)
29 to the Little Rock Port Authority to fund the Port Supersite as an Economic Development Project.
30 Section 2. Funds for this expenditure are available in Job Recruitment/Economic Development,
31 Account No. 326109-TS10A03, which was approved as a part of the 3/8-Cent Capital Sales and
32 Compensating Use Tax for the City.
33 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
34 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
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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 including,but not
6 limited to, Little Rock,Ark., Ordinance No.22,234 (March 7,2023).
7 ADOPTED: September 19,2023
8 APPROVED:
9 '.
10 r
14Ve
11 .''�'�'; ey,City Clerk Director .J.Wy ck,Ward 7,Acting Mayor
12 APP' S ` . 1 TO LEGAL FORM:
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14 / lt" -sem
15 Thomas M. Carpenter,City Atto y
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