HomeMy WebLinkAbout132901 RESOLUTION NO. 13,290
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF MAINSTREAM TECHNOLOGIES, INC., TO BE
5 LOCATED AT 325 WEST CAPITOL AVENUE, LITTLE ROCK,
6 ARKANSAS, TO PARTICIPATE IN THE ARKANSAS TAX BACK
7 PROGRAM (AS AUTHORIZED BY SECTION 15- 4- 2706(D) OF THE
8 CONSOLIDATED INCENTIVE ACT OF 2003); AND FOR OTHER
9 PURPOSES.
10
11 WHEREAS, the regulations of the Arkansas Tax Back Program require local government
12 endorsement of businesses or enterprises that wish to participate in and take advantage of the program;
13 and
14 WHEREAS, Mainstream Technologies, Inc., has been declared by the management of the Arkansas
15 Tax Back Program to be an appropriate applicant to benefit from the features of the program; and
16 WHEREAS, Mainstream Technologies, Inc., will be expanding an existing business by increasing
17 workforce and purchasing machinery and equipment to be used in the business of outsourced software
18 development services, hosting services, and managed Information Technology services; and
19 WHEREAS, the project will result in ten (10) new jobs and a total investment of $700,000.00; and
20 WHEREAS, Mainstream Technologies, Inc., has agreed to furnish to the management of the
21 Arkansas Tax Back Program all information necessary to assure compliance with the terms and
22 conditions of the 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 Mainstream Technologies, Inc., to participate in the Arkansas Tax
27 Back Program and to be eligible to benefit from any refunds and tax credits, including City gross receipts
28 and 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 Arkansas Department of
30 Finance and Administration is authorized to refund any City sales and compensating use taxes collected
31 from the Mainstream Technologies, Inc., during the period of time that it participates in the Arkansas Tax
32 Back Program.
33 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
[PAGE 1 OF 21
Resolution
To endorse Mainstream Technologies, Inc.
to participate In the Tax Back Program
1 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
2 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
3 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
4 resolution.
5 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
6 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
7 ADOPTED: April 5, 2011
8 ATTEST: APPROVED:
9
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11 usan Qaq C ity Clerk Mark Stodola, Mayor
12 APPR D AS TO LEGAL FORM:
13
14 ,
15 Thomas M. Carpenter, City ttorney
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[PAGE 2 OF 21
Resolution
To endorse Mainstream Technologies, Inc.
to participate In the Tax Back Program