HomeMy WebLinkAbout12713I RESOLUTION NO. 12,713
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF
4 ALUCHEM OF LITTLE ROCK, LLC, LOCATED AT 10300 ARCH STREET PIKE,
5 LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN THE ARKANSAS TAX BACK
6 PROGRAM (AS AUTHORIZED BY SECTION 15- 4- 2706(D) OF THE
7 CONSOLIDATED INCENTIVE ACT OF 2003); AND FOR OTHER PURPOSES.
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WHEREAS, the regulations of the Arkansas Tax Back Program require local government
endorsement of businesses or enterprises that wish to participate in and take advantage of the
program, and
WHEREAS, AluChem of Little Rock, LLC has been declared by the management of the Arkansas Tax
Back Program to be an appropriate applicant to benefit from the features of the program, and
WHEREAS, AluChem of Little Rock, LLC will purchase land, construct a warehouse and office
building shop, and purchase machinery and equipment, and
WHEREAS, the project will result in 12 new jobs and a total investment of $4,500,000, and
WHEREAS, AluChem of Little Rock, LLC has agreed to furnish to the management of the Arkansas
Tax Back Program all information necessary to assure compliance with the terms and conditions of the
program;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
ROCK, ARKANSAS:
Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
Local Government Endorsement of AluChem of Little Rock, LLC to participate in the Arkansas Tax Back
Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back
Program.
Section 2. To the extent the City has authority to grant such authority, the Department of Finance
and Administration is authorized to refund any City sales and compensating use taxes collected from
AluChem of Little Rock, LLC during the period of time that it participates in the Arkansas Tax Back
Program.
Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause,
phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of the resolution.
[PAGE 1 OF 2]
Resolution
To endorse Aluchem of Little Rock, LLC
to participate In the Tax Back Program
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Section 4. Repealer. 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: June 17, 2008
ATTEST: APPROVED: X� /,"7,
Na Wood, Oy Clerk
APPROVED AS TO LEGAL FORM:
.-lam• ----z .G.
Thomas M. Carpenter, City Attor
Resolution
To endorse MuChem of Little Rock, LLC
to participate In the Tax Back Program
[PAGE 2 OF 2]
Stodola,