14880 1 RESOLUTION NO. 14,880
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A THIRD RENEWAL OF THE CONTRACT WITH
5 METROPOLITAN LIFE INSURANCE COMPANY,IN AN AMOUNT NOT
6 TO EXCEED FIVE HUNDRED TWENTY THOUSAND DOLLARS
7 ($520,000.00), FOR GROUP LIFE AND AD&D INSURANCE FOR A
8 PERIOD BEGINNING JANUARY 1, 2019, TO DECEMBER 31, 2019; TO
9 INCLUDE A CLAUSE WHICH PERMITS THE CITY TO RENEW THE
10 CONTRACT AT ITS OPTION FOR FOUR(4)ADDITIONAL YEARS;AND
11 FOR OTHER PURPOSES.
12
13 WHEREAS,the City provides certain life and AD&D Insurance benefits for its employees, and after
14 a competitive selection process it was determined that the most qualified applicant with the best overall rate
15 to provide such insurance for the current City employees is Metropolitan Life Insurance Company; and,
16 WHEREAS, the basic cost of such coverage to the City will not exceed Five Hundred Twenty
17 Thousand Dollars ($520,000.00) for 2019, and will allow for an increase of 100 new city employees in
18 2019;
19 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
20 OF LITTLE ROCK,ARKANSAS:
21 Section 1. The City Manager is authorized to enter into a renewal agreement with Metropolitan Life
' 22 Insurance Company for Group Life and AD&D Insurance for the period of January 1, 2019,to December
23 31, 2019, for an amount not to exceed Five Hundred Twenty Thousand Dollars ($520,000.00)which will
24 allow an increase of 100 new city employees in 2019.
25 Section 2.Funds for this agreement will be available from a line item for Group Life Insurance in the
26 2019 Budget,Account No. 53500.
27 Section 3. Pursuant to approval by the City, this contract may be extended four(4) additional times
28 for five(5)additional years in accordance with the renewal clause in the agreement.
29 Section 4. Severability. In the event any title,section, paragraph, item, sentence, clause, phrase, or
30 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
31 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
32 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
33 resolution.
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1 Section 5.Repealer.All laws, ordinances, resolutions, or parts of the same, that are inconsistent with
2 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
3 PASSED: October 16,2018
4APPROVED:
5 Viii
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7 'usa .01 g;:11 ity Clerk Mark Stodola,Mayor
8 APP 1\1� TO LEGAL FORM:
9
10 IP- ' 441.2,1A-4--AVD q.
11 Thomas M.Carpenter,City Attorney
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