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14236 1 RESOLUTION NO. 14,236 2 3 A RESOLUTION TO AWARD THE BANKING SERVICES CONTRACT 4 FOR 2016 AND 2017 TO FIRST SECURITY BANK; AND FOR OTHER 5 PURPOSES. 6 7 WHEREAS, the City periodically bids for the award of its Banking Services Contract to one of the 8 local financial institutions within the City; and 9 WHEREAS, after a competitive process which resulted in First Security Bank receiving the highest 10 score for overall banking services; and, 11 WHEREAS, the Director of Finance, Treasurer and City Manager recommend that this contract be 12 awarded to First Security Bank; 13 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 14 OF LITTLE ROCK,ARKANSAS: 15 Section 1. The City Manager is authorized to enter into an.agreement with First Security Bank to 16 provide banking services to the City in accordance with the terms and conditions offered in the proposal 17 submitted on October 12,2015. 18 Section 2. The City Manager shall have the option to extend this agreement for five (5) additional 19 years, which will expire no later than December 31, 2022, if it is deemed in the best interests of the City 20 to do so. 21 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 22 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 23 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 24 effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part of the 25 resolution. 26 Section 4. Repealer. All resolutions, bylaws, and other matters inconsistent with this resolution are 27 hereby repealed to the extent of such inconsistency. 28 ADOPTED: November 17,2015 29 ATT APPR V 1: 30 31 1411111/' l //�.���/ 32 san • gley,City Clerk ark Sto s (aayor 33 A' 'R**u AS TO LEGAL FORM: 34 35 36 Thomas M. Carpenter, ity� ey