HomeMy WebLinkAbout131591 RESOLUTION NO. 13,159
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF NOVUS ARKANSAS, LLC, LOCATED AT 7920
5 SLOANE DRIVE, LITTLE ROCK, ARKANSAS, TO PARTICIPATE IN
6 THE ARKANSAS TAX BACK PROGRAM (AS AUTHORIZED BY
7 SECTION 15- 4- 2706(D) OF THE CONSOLIDATED INCENTIVE ACT OF
8 2003); AND FOR 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, Novus Arkansas, LLC has been declared by the management of the Arkansas Tax Back
14 Program to be an appropriate applicant to benefit from the features of the program, and
15 WHEREAS, Novus Arkansas, LLC will be purchasing additional land, constructing new buildings,
16 expanding existing buildings, and purchasing machinery and equipment for manufacturing animal feed
17 ingredients, and
18 WHEREAS, the project will result in twenty -five (25) new jobs and a total investment of
19 $35,000,000.00, and
20 WHEREAS, Novus Arkansas, LLC has agreed to furnish to the management of the Arkansas Tax
21 Back Program all information necessary to assure compliance with the terms and conditions of the
22 program;
23 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
24 OF LITTLE ROCK, ARKANSAS:
25 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
26 Local Government Endorsement of Novus Arkansas, LLC to participate in the Arkansas Tax Back
27 Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts and
28 compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back Program.
29 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
30 and Administration is authorized to refund any City sales and compensating use taxes collected from the
31 Novus Arkansas, LLC during the period of time that it participates in the Arkansas Tax Back 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
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Resolution
To endorse Novus Arkansas, LLC to participate In the Tax Back Program
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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 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: July 6, 2010 /
ATTEST: APPROVED:
amity Clerk
AS TO LEGAL FORM:
Thomas M. Carpenter, City At ne
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Resolution
To endorse Novus Arkansas, LLC to participate In the Tax Back Program
Mark Stodola, %layor