HomeMy WebLinkAbout2012-06-01-R Tax Back
RESOLUTION No. 2012-06-01-R
RESOLUTION OF THE CITY OF BATESVILLE CERTIFYING LOCAL GOVERNMENT
ENDORSEMENT OF BUSINESS TO PARTICIPATE IN THE TAX BACK PROGRAM(AS
AUTHORIZED BYSECTION 15-4-2706(d) OF THE CONSOLIDATED INCENTIVE ACT
OF 2003).
WHEREAS, in order to be considered for participation in the Tax Back Program, the local
government must endorse a business to participate in the Tax Back Program; and
WHEREAS, the local government must authorize the refund of local sales and use taxes as
provided in the Consolidated Incentive Act of 2003; and
WHEREAS, said endorsement must be made on specific form available from the Arkansas
Economic Development Commission; and
WHEREAS, Peco Foods of Arkansas, Inc. located at 625 S. Allen Street, Batesville, Arkansas
has sought to participate in the program and more specifically has requested benefits accruing
from the construction and modernization of the specific facility; and
WHEREAS, Peco Foods of Arkansas, Inc. has agreed to furnish the local government all
necessary information for compliance.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BATES VILLE,ARKANSAS, THAT.
1. Peco Foods of Arkansas, Inc. be endorsed by the City Council of City of Batesville,
Arkansas for benefits from the sales&use tax refunds as provided by Section 15-4-
2706(d) of the Consolidated Incentive Act of 2003.
2. The Department of Finance and Administration is authorized to refund
local sales and use taxes to Peco Foods of Arkansas, Inc.
3. This resolution shall take effect immediately.
// Rick Mayor
Date Passed: b l a—�a•
Attest: V-Lj uN\912!�
Clerk