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1704RESOLUTION No. RESOL UTION OF THE CITY COUNCIL OF WEST MEMPHIS, ARKANSAS, CERTIFYING LOCAL GOVERNMENT ENDORSEMENT OF BUSINESS TO PARTICIPATE IN THE ARKANSAS DEVELOPMENT ACT OF 1995. WHEREAS, the local government must endorse a business to participate in the Arkansas Economic Development Act program and benefit from the refunds/tax credits as provided in the Arkansas Economic Development Act of 1995, and WHEREAS, S-B Power Tool Company located at 2700 North Airport Road, West Memphis, Arkansas, has sought to participate in the program and more specifically has requested benefits accruing from construction of the specific facility, and WHEREAS, S-B Power Tool Company has agreed to furnish the local government all necessary information for compliance. NOW THEREFORE BE IT RESOL VED BY THE CITY COUNCIL OF WEST MEMPHIS, ARKANSAS, THAT.• 1. S-B Power Tool Company be endorsed by the city of West Memphis for benefits from the refunds/tax credits as provided in the Arkansas Economic Development Act of 1995. 2. The Department of Finance and Administration be authorized to refund local sales and use taxes to S-B Power Tool Company. 3. This resolution shall take effect immediately. Mayor Willi ohnson Date Passed: ~u u ~ '7 a ©o Attest: ~_ ~_ ~ ,~ Clerk ~Y CLERKS OFFICE aTE ~~ZS f d 1 B 3' -~ ~ ~