HomeMy WebLinkAbout124851 RESOLUTION NO. 12,485
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF GREEN
4 WAY BIO ENERGY, LLC, LOCATED AT 7500 INDUSTRIAL HARBOR DRIVE, TO
5 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY
6 SECTION 15- 4- 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF 2003);
7 AND FOR OTHER PURPOSES.
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9 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
10 endorsement of businesses or enterprises that wish to participate in and take advantage of the
11 program, and
12 WHEREAS, Green Way Bio Energy, LLC 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, and
14 WHEREAS, Green Way Bio Energy, LLC will lease land in the Little Rock Port Industrial Park and
15 construct a biodiesel processing facility with office space, and will include a biodiesel processing line,
16 storage tanks, truck loading/ unloading facilities, rail loading/ unloading facilities, and barge
17 load /unloading facilities, and
18 WHEREAS, the project will result in 12 new jobs and a total investment of $10,222.250, and
19 WHEREAS, Green Way Bio Energy, LLC has agreed to furnish to the management of the
20 Arkansas Tax Back Program all information necessary to assure compliance with the terms and
21 conditions of the program;
22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
23 ROCK, ARKANSAS:
24 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate
25 of Local Government Endorsement of Green Way Bio Energy, LLC to participate in the Arkansas Tax
26 Back Program and to be eligible to benefit from any refunds and tax credits, including City gross
27 receipts and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back
28 Program.
29 Section 2. To the extent the City has authority to grant such authority, the Department of
30 Finance and Administration is authorized to refund any City sales and compensating use taxes collected
31 from Green Way Bio Energy, LLC during the period of time that it participates in the Arkansas Tax Back
32 Program.
33 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause,
34 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
35 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
[PAGE 1 OF 2]
Resolution
To endorse Green Way Bio Energy, LLC to participate
In the Tax Back Program
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in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of the resolution.
Section 4. Repeater. All laws, ordinances, resolutions, or parts of the same, that are
inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
inconsistency.
ADOPTED: April 17, 2007
ATTEST:
Nanc Wood, ity Clerk
APPROVED AS TO LEGAL FORM:
/ I-
Thomas M. Carpenter, City Atto ey
Resolution
To endorse Green Way Bio Energy, LLC to participate
In the Tax Back Program
[PAGE 2 OF 2]
APPROVED:
Mark Stodola, Mayor