HomeMy WebLinkAbout128181 RESOLUTION NO. 12,818
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF
4 NOVUS INTERNATIONAL, INC., LOCATED AT THE PORT OF LITTLE
5 ROCK, TO PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS
6 AUTHORIZED BY SECTION 15- 4- 2706(D) OF THE CONSOLIDATED
7 INCENTIVE ACT OF 2003); 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
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13 WHEREAS, Novus International, Inc. has been declared by the management of the
14 Arkansas Tax Back Program to be an appropriate applicant to benefit from the features of the
15 program, and
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17 WHEREAS, Novus International, Inc. will purchase additional land, construct three
18 additional buildings, and purchase machinery and equipment, for the expansion of the existing
19 manufacturing and distribution facilities, and
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21 WHEREAS, the project will result in 25 new jobs and a total investment of
22 $35,300,000.00, and
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24 WHEREAS Novus International, Inc. has agreed to furnish to the management of the
25 Arkansas Tax Back Program all information necessary to assure compliance with the terms and
26 conditions of the program;
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28 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
29 LITTLE ROCK, ARKANSAS:
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31 Section 1. The City endorses and the Mayor is authorized to execute any required
32 Certificate of Local Government Endorsement of Novus International, Inc. to participate in the
33 Arkansas Tax Back Program and to be eligible to benefit from any refunds and tax credits,
34 including City gross receipts and compensating use tax credits, in accordance with the
35 regulations of the Arkansas Tax Back Program.
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37 Section 2. To the extent the City has authority to grant such authority, the
38 Department of Finance and Administration is authorized to refund any City sales and
39 compensating use taxes collected from Novus International, Inc. during the period of time that
40 it participates in the Arkansas Tax Back Program.
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42 Section 3. Severability. In the event any title, section, paragraph, item, sentence,
43 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
44 unconstitutional, such declaration or adjudication shall not affect the remaining portions of the
45 resolution which shall remain in full force and effect as if the portion so declared or adjudged
46 invalid or unconstitutional was not originally a part of the resolution.
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48 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are
49 inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
50 inconsistency.
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Resolution
To endorse Novus International, Inc.
to participate In the Tax Back Program
1 ADOPTED: January 20, 2009
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APPROVED AS TO LEGAL FORM:
gl' A4d'-
Thomas M. Carpenter, City A rney
Resolution
To endorse Novus International, Inc.
to participate In the Tax Back Program
APPROVED:
G ne Fortson, Vice Mayor
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