HomeMy WebLinkAbout16524 1 RESOLUTION NO. 16,524
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3 A RESOLUTION TO AUTHORIZE THE USE OF FIVE HUNDRED
4 THOUSAND DOLLARS ($500,000.00) FOR IMPROVEMENTS AT THE
5 LITTLE ROCK PORT AUTHORITY;AND,FOR OTHER PURPOSES.
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7 WHEREAS,the Little Rock Port("the Port"), working through the Little Rock Port Authority ("the
8 Authority"), is a major location for economic development for the City of Little Rock,Arkansas ("the
9 City");and,
10 WHEREAS,while reviewing the discussions to attract Elopak,Inc.,to the City it was determined that
11 the Port needed certain capital improvements such as the extension of water lines within the Port,a project
12 that would be consistent with the City's economic development funding; and,
13 WHEREAS, it has been determined that five hundred thousand dollars($500,000.00)is needed from
14 this City for such economic development;
15 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
16 OF LITTLE ROCK,ARKANSAS:
17 Section 1. The City shall authorize the expenditure of five hundred thousand dollars ($500,000.00)
18 for infrastructure improvement to the Port which may be used for the purpose of locating the facilities of
19 Elopak,Inc.,within the Port.
20 Section 2. Funds for this expenditure are available in the City's economic development funds as
21 follows:
22 (a) Four hundred and forty-two thousand,six hundred and ninety-eight dollars($442,698.00)shall
23 be taken from Account No.TS10A03-326109-73104; and,
24 (b) Fifty-seven thousand three hundred and two dollars($57,302.00)shall be taken from Account
25 No.TS10A01-326109-73194.
26 Section 3. The Mayor,City Manager,City Clerk,and Director of Finance&Treasurer,are authorized
27 to execute any documents necessary to allow for the transfer of the funds identified in Section 2 of this
28 Resolution.
29 Section 4. 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 5. 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: December 3,2024
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6 ATTEST: APPROVED:
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9 Allison Segars,Actin ity Clerk Frank Scott,Jr., r
10 APPROVED AS TO LEGAL FORM:
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12 41A-1•A'til
13 Thomas M.Carpenter,City Att ney
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