0742RESOLUTION NO, 742 (#08 — 2016)
A RESOLUTION OF THE CITY OF JACKSONVILLE, ARKANSAS,
EXPRESSING ENDORSEMENT AND WILLINGNESS TO CERTIFY SIG
SAUER, INC, TO UTILIZE AND PARTICIPATE IN THE TAX BENEFITS
PROGRAM AVAILABLE THROUGH THE CONSOLIDATED INCENTIVE
ACT OF 2003; AND, FOR OTHER PURPOSES,
WHEREAS, in application for Sig Sauer, Inc. to benefit from expansion
of their business and equipment into the City of Jacksonville, Arkansas, the
City Council must endorse Sig Sauer, Inc. for participation in the
Consolidated Incentive Act of 2003, codified as ACA § 15-4-2701 et. seq., for
particular refund and tax credits upon proper qualification and application;
WHEREAS, the Jacksonville City Council understands that Sig Sauer,
Inc., which will be located at 1809 Swift Drive, Jacksonville, has requested
authority to obtain benefits accruing from expansion and location of their
business and necessary equipment for a jobs creation tax credit, investment
tax incentives through reimbursement of local sales and excise taxes, and
certain income tax credits, qualification of such will be ultimately determined
by the Arkansas Economic Development Commission (AEDC); and,
WHEREAS, Sig Sauer, Inc. will provide the City of Jacksonville with all
necessary information for compliance with all necessary forms/requirements
of AEDC and the Department of Finance and Administration (DFA).
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OFJACKSONVILLE, ARKANSAS, THAT. -
SECTION ONE: The City Council of the City of Jacksonville,
Arkansas, willingly endorses Sig Sauer, Inc. for enrollment and participation
in the tax back benefits available through the Consolidated Incentive Act of
2003, codified as ACA § 15-4-2701 et. seq.
SECTION TWO: The Mayor and City Clerk are hereby
authorized and directed to execute all appropriate applications and
documents necessary to enact and direct the Department of Finance and
Administration (DFA) to refund all applicable and qualified local sales and use
taxes to Sig Sauer, Inc. for monies spent in its expansion and location of Sig
Sauer's business operation in the City of Jacksonville, Arkansas.
Resolution No. 742 (#08— 2016)
Page Two
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SECTION THREE; Any other Resolutions in conflict herewith
are hereby repealed to the extent of said conflict. This Resolution shall be in
effect from and after its date of passage, subject by and to applicable law.
APPROVED AND ADOPTED THIS a DAY OF SEPTEMBER,
2016.
CITY OF,7ACKSONVILLEl ARKANSAS
GARY
ATTEST.
SUSAN DA VOT, CITY CLERK
AS TO FORM.
MA YOR