HomeMy WebLinkAbout70-94 RESOLUTION•
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RESOLUTION NO. 7C-94
A RESOLUTION OF THE C1TY OF FAYE'TIEVILLE,
ARKANSAS CERTIFYING LOCAL GOVERNMENT
ENDORSEMENT OF 1NDUTEC CORPORATION TO
PARTICIPATE IN THE ARKANSAS ENTERPRISE ZONE
PROGRAM OF 1993.
WHEREAS, the local government must endorse a business or enterprise to participate
in the Arkansas Enterprise Zone Program and benefit from the refunds/tax credits as provided
in the Arkansas Enterprise Zone Program Regulations of 1993; and
WHEREAS, said endorsement must be made on specific form available from AIDC; and
WHEREAS, lndutec Corporation located in Fayetteville, Arkansas has sought to
participate in the program and more specifically has requested benefits accruing from creation
of new jobs at the specific facility; and
WHEREAS, Indutec Corporation has agreed to furnish the local government all
necessary information for compliance.
NOW, THEREFORE, BE IT RESOLVED BY THE C1TY COUNCIL OF THE
C1TY OF FAYETTEVILLE, ARKANSAS, THAT:
Section 1. That lndutec Corporation be endorsed by the City Council of the City of
Fayetteville, Arkansas for the benefits from the refunds/tax credits as provided in the Arkansas
Enterprise Zone Program Regulations of 1993, through June 30, 1999.
Section2 The Department of Finance and Administration he authorized to refund
local sales and use taxes to Inductee Corporation.
Section 3. This resolution shall take effect immediately.
PASSED AND APPROVED this _2(th day of _June 1994.
APPROVED:
ATTEST:
By:
Sherry Thomas. City Cerk
By:
"..e y r'..-
Fred
..YFred Hanna, Mayor