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M M is M
765
ORDINANCE NO. 17,325
AN ORDINANCE APPROPRIATING $100,000
FROM THE ECONOMIC DEVELOPMENT FUND
FOR USE ON BOUNDARY STREET
IMPROVEMENTS IN CONJUNCTION WITH THE
ARKANSAS SYSTEMS PROJECT ON CHENAL
PARKWAY.
WHEREAS, Arkansas Systems is a software development company
providing software payment processing systems with emphasis on
processing of electronic and paper delivery systems worldwide;
and
WHEREAS, the company has customers in 49 of the United
States and 62 foreign countries; and
WHEREAS, Arkansas Systems, Incorporated has outgrown its
existing facilities in Little Rock and planned to relocate; and
WHEREAS, the City, State and Chamber of Commerce compiled
an incentive package that would allow the company to remain in
Little Rock; and
WHEREAS, the City offered to appropriate $100,000 from the
City Economic Development Fund for boundary street improvements,
and
WHEREAS, Arkansas Systems, Incorporated has constructed a
160,000 square foot Corporate Headquarters that is currently 95%
occupied at 17500 Chenal Parkway; and
WHEREAS, this new $13.5 million construction project has
allowed the company to expand its workforce by approximately
one -third in the last year; and
WHEREAS, records indicate that Arkansas Systems,
Incorporated has expended $181,818 for street improvements.
NOW, `WHEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
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SECTION 1. The City Manager is authorized to appropriate
$100,000 from the Economic Development Fund for partial payment
of boundary street improvements for Arkansas Systems,
Incorporated.
PASSED: November 19, 1996
APPR . .`` //AD .Ty,.
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