HomeMy WebLinkAbout134941 RESOLUTION NO. 13,494
2
3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT
4 ENDORSEMENT OF ALUCHEM OF LITTLE ROCK, LLC, TO BE
5 LOCATED AT 10500 ARCH STREET PIKE, 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, AluChem of Little Rock, LLC, 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, AluChem of Little Rock, LLC, will be constructing a new building and purchasing
17 equipment for Alumina refining; and
18 WHEREAS, the project will result in three (3) new jobs and a total investment of $4,200,000; and
19 WHEREAS, AluChem of Little Rock, LLC, 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 AluChem of Little Rock, LLC, 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 the AluChem of Little Rock, LLC, 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
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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: May 1, 2012
ATTESJ: -� APPROVED: /
Su JnLngl V C ity Clerk
PP ED AS TO LEGAL FORM:
Thomas M. Carpenter, City Aktorney
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Mark Stodola,
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