HomeMy WebLinkAbout16249 1 RESOLUTION NO. 16,249
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF DASSAULT FALCON JET CORPORATION, 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, Dassault Falcon Jet Corporation has been declared by the Management of the Arkansas
13 Tax Back Program to be an appropriate applicant to benefit from the features of the program in its creation
14 of 800 new jobs and a total investment of at least One Hundred Million Dollars($100,000,000.00);and,
15 WHEREAS,Dassault Falcon Jet Corporation has agreed to furnish to the Management of the Arkansas
16 Tax Back Program, all information necessary to assure compliance with the terms and conditions of the
17 program.
18 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK,ARKANSAS:
20 Section 1. The City endorses Dassault Falcon Jet Corporation and the Mayor is authorized to execute
21 any required Certificate of Local Government Endorsement of Dassault Falcon Jet Corporation to
22 participate in the Arkansas Tax Back Program and to be eligible to benefit from any refunds and tax credits,
23 including City Gross Receipts and Compensating Use Tax Credits, in accordance with the regulations of
24 the Arkansas Tax Back Program.
25 Section 2. To the extent the City has authority to grant such authority,the Department of Finance and
26 Administration is authorized to refund any City Sales and Compensating Use Taxes collected from Dassault
27 Falcon Jet Corporation during the period of time that it participates in the Arkansas Tax Back Program.
28 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
29 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
30 adjudication shall not affect the remaining portions of the resolution, which shall remain in full force and
31 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
32 resolution.
33 Section 4. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with
34 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: March 5,2024
2 �:r APPROVED:
4 1► /
5 L. i gle , ..ty Clerk Frank Scott,Jr. or
6 AP' 'OV D AS TO LEGAL FORM:
7
8 ktit.
9 Thomas M. Carpenter, City orney
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