HomeMy WebLinkAbout12985I RESOLUTION NO. 12,985
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT OF
4 DELTA PLASTICS OF THE SOUTH, LLC, LOCATED AT 8801 FRAZIER
5 PIKE, LITTLE ROCK, ARKANSAS 72201, TO PARTICIPATE IN THE
6 ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY SECTION 15 -4-
7 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF 2003); AND FOR
8 OTHER PURPOSES.
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10 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
11 endorsement of businesses or enterprises that wish to participate in and take advantage of the program,
12 and
13 WHEREAS, Delta Plastics of the South, Inc. has been declared by the management of the Arkansas
14 Tax Back Program to be an appropriate applicant to benefit from the features of the program, and
15 WHEREAS, Delta Plastics of the South, Inc. will be purchasing land and an existing building,
16 renovating the building, and purchasing equipment to be used to manufacture polytubing and recycled
17 plastics, and
18 WHEREAS, the project will result in 5 -10 new jobs and a total investment of $6,753,550.00, and
19 WHEREAS, Delta Plastics of the South, Inc. 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
23 OF LITTLE ROCK, ARKANSAS:
24 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
25 Local Government Endorsement of Delta Plastics of the South, Inc. to participate in the Arkansas Tax
26 Back Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
27 and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back Program.
28 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
29 and Administration is authorized to refund any City sales and compensating use taxes collected from
30 Delta Plastics of the South, Inc. during the period of time that it participates in the Arkansas Tax Back
31 Program.
32 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
33 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
34 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
[PAGE 1 OF 21
Resolution
To endorse Delta Plastic of the South, LLC,
to participate In the Tax Back Program
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effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
resolution.
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 2, 2009
ATTEST: APPROVED
Z&�� lo4�cell
N cy , Woo City Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City YLttorney
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Resolution
To endorse Delta Plastic of the South, LLC,
to participate In the Tax Back Program
[PAGE 2 OF 21
Mark Stodola, Mayor