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A RESOLUTION AUTHORIZING THE SUBSTITUTION OF AN ELIGIBLE ENTERPRISE ZONE AREA WITHIN THE CITY OF JONESBORO, AR. AND STATING CERTAIN ASSURANCE WITH REGARD THERETO
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WHEREAS, the Arkansas Industrial Development Commission (AIDC) has designated certain areas in Jonesboro, Arkansas as eligible enterprise zones based on demographic and economic factors pursuant to The Arkansas Enterprise Zone Act of 1983 (act 740); and
WHEREAS, this above zone is not being used by any eligible businesses and an eligible business is interested in participating in another Zone -Ed 9902 Block Group 4; and
WHEREAS, Jonesboro, Arkansas can request to AIDC for the substitution of eligible zones for the purpose of implementing the Arkansas Enterprise Zone Program.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas:
That Jonesboro, Arkansas has been participating in the Arkansas Enterprise Zone Program, and requests the Arkansas Industrial Development Commission to allow the substitution of Ed 9902, Block Group 4 for Ed 9902, Block Group 3, for the purpose of implementing the Arkansas Enterprise Zone Program.
BE IT FURTHER RESOLVED that in accordance with The Arkansas Enterprise Zone Program requirements, Jonesboro, Arkansas agrees to provide or undertake all the responsibilities and requirements to provide or undertake all the responsibilities and requirements as approved previously.
BE IT FURTHER RESOLVED that the Mayor of Jonesboro, Arkansas is hereby authorized to submit the required application; to fulfill the requirements of said program that may now or hereafter be enacted or promulgated by the Arkansas General Assembly or the Arkansas Industrial Development Commission; an to request designation by the Arkansas Industrial Development Commission of the aforementioned area (Ed 9902 Block Group 4) into the Enterprise Zone Program.
PASSED AND ADOPTED this 1st day of March, 1993.