0481 RESOLUTION NO. 481 (15 -95)
A RESOLUTION AUTHORIZING THE CITY OF JACKSONVILLE, ARKANSAS,
TO ANNOUNCE AND VERIFY LOCAL GOVERNMENT TAX INCENTIVES FOR
NEW BUSINESSES AND INDUSTRIES WHICH LOCATE WITHIN THE CITY
LIMITS TO QUALIFY FOR AND PARTICIPATE IN A TAX INCENTIVES
PROGRAM AVAILABLE THROUGH THE ARKANSAS ENTERPRISE ZONE
PROGRAM; AND, FOR OTHER PURPOSES.
WHEREAS, in the solicitation of new businesses and
industries for location in the City of Jacksonville, certain
tax exemptions, incentives, and benefits from construction
and development of specific facilities are now commonplace,
making recruitment and placement more difficult;
WHEREAS, local governing bodies regularly provide a
specific endorsement for a business or industry to benefit
from qualification for and participation in the tax
incentives offered through the Arkansas Enterprise Zone
Program;
WHEREAS, the City of Jacksonville, Arkansas, can benefit
by providing a similar local governing tax incentive for new
businesses and industries which chose to locate within the
city limits of Jacksonville; and,
WHEREAS, each such participating business and industry
will be required to obtain prior approval from the City
Council and shall comply with all necessary provisions and
informational requirements as mandated by the Arkansas
Enterprise Zone Program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: The City Council hereby certifies and
endorses the development and implementation of a local tax
incentive for new businesses and industries which choose to
locate within the City of Jacksonville, Arkansas, and hereby
endorses qualification for and participation of said
businesses and industries in the tax incentives program as
provided through the Arkansas Enterprise Zone Program.
SECTION TWO: Upon qualification for and participation
of a certain business or industry with the tax incentives
available through the Arkansas Enterprise Zone Program and
approval via Resolution of the City Council, the City Finance
Director and /or the Arkansas Department of Finance and
Administration will thereby be authorized to refund local
City one cent sales tax proceeds paid by said new businesses
and industries for costs incurred in the construction and
production equipment purchases required to construct, open,
and operate a facility within the City limits. The Mayor and
City Clerk shall be authorized to execute necessary documents
and provide endorsements required to authorize said refunds.
SECTION THREE: This Resolution shall be in effect from
and after its date of passage.
SECTION FOUR: All Resolutions or parts of Resolutions
in conflict herewith are hereby repealed to the extent of
said conflict.
61
Resolution No. 481 (15 -95)
May , 1995
Page Two
APPROVED AND ADOPTED THIS /P DAY OF MAY, 1995.
CITY OF JACKSONVILLE, ARKANSAS
BY: 1 etnnnivr .,. isg c,4 'eta • 4.01.... TOMMY SWAIM, AYOR
ATTEST: 4444
if /
L ' M. LEONARD CITY CLERK
1 p/,_ ?tit,
RORER E. BAMBU' ATT0 k EY