0986RESOLUTION NO. ~~~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
MEMPHIS, ARKANSAS CERTIFYING LOCAL GOVERNMENT ENDORSE-
MENT OF FORBES STEEL & WIRE CORPORATION TO PARTICIPATE
IN THE ARKANSAS ENTERPRISE ZONE PROGRAM AND AUTHORIZING
THE MAYOR TO SIGN THE CERTIFICATE OF LOCAL GOVERNMENT
ENDORSEMENT AND OTHER FORMS, AS REQUIRED.
WHEREAS, the applications for Arkansas Enterprise Zone Program
designation prepared by the Community Development Agency of West Memphis
have been approved by the Arkansas Industrial Development Commission; and
WHEREAS, the approved Enterprise Zones are within the corporate
limits of the City of West Memphis and are designated Census Tract 303.,
Block Group 5 and Census Tract 304, Block Group 5; and
WHEREAS, Forbes Steel & Wire Corporation wishes to participate in
the Arkansas Enterprise Zone Program; and
WHEREAS, the City of West Memphis must endorse Forbes Steel & Wire
Corporation to participate in the Arkansas Enterprise Zone Program and
benefit from the exemptions as provided in Part IV of the Arkansas Enter-
prise Zone Program Regulations of 1983; and
WHEREAS, said endorsement must be made on certain forms and certifi-
cates provided by the Arkansas Industrial Development Commission; and
WHEREAS, Forbes Steel & Wire Corporation has been determined appro-
priate applicants and has agreed to furnish to the City of West Memphis,
the Community Development Agency of West Memphis, and the Arkansas Indus-
trial Development Commission all necessary information for compliance
with the regulations of the Arkansas Enterprise Zone Program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WEST MEMPHIS:
1. That the City of West Memphis supports the efforts of Forbes
Steel & Wire Corporation to participate in the Arkansas Enterprise Zone
Program in accordance with program regulations and provisions under Act
740 of the Arkansas General Assembly and endorses Forbes Steel & Wire
Corporation for benefit from the exemptions provided in Part IV of the
Arkansas Enterprise Zone Program Regulations of 1983.
2. That the Mayor of West Memphis is authorized to sign the Cer-
tificate of Local Government Endorsement and related forms, as required.
3. That this Resolution shall take effect immediately.
DATE PASSED: ' 11.t.,n., ,G.~ ~ ~p , I ~ Q7
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ATTEST:
Dan Cra
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`' Leo Chi an, Mayor _:,.~.., m.,c<<~u~"~,,~-,-, .._.;....,.
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