HomeMy WebLinkAbout132771 RESOLUTION NO. 13,277
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF CAMERON VALVES & MEASUREMENT, TO BE
5 LOCATED AT 7200 INTERSTATE 30, LITTLE ROCK, ARKANSAS, TO
6 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM (AS
7 AUTHORIZED BY SECTION 15- 4- 2706(D) OF THE CONSOLIDATED
8 INCENTIVE ACT OF 2003); AND FOR OTHER PURPOSES.
9
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, Cameron Valves & Measurement 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 program;
15 and
16 WHEREAS, Cameron Valves & Measurement will be expanding an existing business by increasing
17 workforce and purchasing machinery and equipment to be used in the business of critical valve
18 manufacturing for the oil and gas industry; and
19 WHEREAS, the project will result in twenty (20) new jobs and a total investment of $4,382,400.00,
20 and
21 WHEREAS, Cameron Valves & Measurement has agreed to furnish to the management of the
22 Arkansas Tax Back Program all information necessary to assure compliance with the terms and
23 conditions of the program;
24 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
25 OF LITTLE ROCK, ARKANSAS:
26 Section 1. The City endorses and the Mayor is authorized to execute any required Certificate of
27 Local Government Endorsement of Cameron Valves & Measurement to participate in the Arkansas Tax
28 Back Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
29 and compensating use tax credits, in accordance with the regulations of the Arkansas Tax Back Program.
30 Section 2. To the extent the City has authority to grant such authority, the Department of Finance
31 and Administration is authorized to refund any City sales and compensating use taxes collected from the
32 Cameron Valves & Measurement during the period of time that it participates in the Arkansas Tax Back
33 Program.
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Resolution
To endorse Cameron Valves & Measurement to participate In the Tax Back Program
1 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
2 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
3 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
4 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
5 resolution.
6 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
7 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
8 ADOPTED: March 1, 2011
9 ATTEST: APPROVED:
10
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12 RnsanyIngle City Clerk Mark Stodol , Mayor
13 APPRO ED AS TO LEGAL FORM:
14
15
16 Thomas M. Carpenter, City t orney
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Resolution
To endorse Cameron Valves & Measurement to participate In the Tax Back Program