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Home My WebLink About16543 1 RESOLUTION NO. 16,543 2 3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT 4 ENDORSEMENT OF ELOPAK, INC., LOCATED AT 6101 ZUEBER 5 DRIVE, LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN THE 6 ARKANSAS TAX BACK PROGRAM,AS AUTHORIZED BY ARK. CODE 7 ANNOTATED § 15-4-2706(D) OF THE CONSOLIDATED INCENTIVE 8 ACT OF 2003; AND FOR OTHER 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,Elopak,Inc.,has been declared by the Management of the Arkansas Tax Back Program 13 to be an appropriate applicant to benefit from the features of the program in its creation of one-hundred 14 fifty-six (156) new jobs and a total investment of at least ninety-four million, fifty-two thousand, nine 15 hundred Dollars($94,052,900.00);and, 16 WHEREAS,Elopak,Inc.,has agreed to furnish to the management of the Arkansas Tax Back Program 17 all information necessary to assure compliance with the terms and conditions of the 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 Elopak, Inc., and the Mayor is authorized to execute any required 21 Certificate of Local Government Endorsement of Elopak, Inc., to participate in the Arkansas Tax Back 22 Program and to be eligible to benefit from any refunds and tax credits, including City Gross Receipts and 23 Compensating Use Tax Credits, in accordance with the regulations of the Arkansas Tax Back Program. 24 Section 2. To the extent the City has authority to grant such authority, the Arkansas Department of 25 Finance and Administration is authorized to refund any City Sales and Compensating Use Taxes collected 26 from Elopak,Inc.,during the period of time that it participates in the Arkansas Tax Back Program. 27 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 29 adjudication shall not affect the remaining portions of the resolution,which shall remain in full force and 30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 31 resolution. 32 Section 4. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with 33 the provisions of this resolution,are hereby repealed to the extent of such inconsistency. [Page 1 of 2] 1 ADOPTED: December 17,2024 2 ATTEST: APPROVED: 3 4 ka i U"e 5 Allison Segars,Ac City Clerk t Sco r., ayor 6 APPROVED AS TO LEGAL FORM: 78 9 Thomas M.Carpenter,City Attor 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2 of 2]