15244 1 RESOLUTION NO. 15,244
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, 2021, TO DECEMBER 31, 2021, AND
9 FOR OTHER PURPOSES.
10
11 WHEREAS,the City provides certain life and AD&D Insurance benefits for its employees, and after
12 a competitive selection process it was determined that the most qualified applicant with the best overall rate
13 to provide such insurance for the current City employees is Metropolitan Life Insurance Company; and,
14 WHEREAS, the basic cost of such coverage to the City will not exceed Five Hundred Twenty
15 Thousand Dollars($520,000.00)and will allow for an increase of 100 new City employees in 2021.
16 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
17 OF LITTLE ROCK,ARKANSAS:
18 Section 1. The City Manager is authorized to enter into a renewal agreement with Metropolitan Life
19 Insurance Company for Group Life and AD&D Insurance for the period of January 1, 2021, to December
20 31, 2021, for an amount not to exceed Five Hundred Twenty Thousand Dollars ($520,000.00) which will
21 allow an increase of 100 new City employees in 2020. This represents year five (5)of the seven (7)-year
22 term.
23 Section 2. Funds for this agreement will be available from a line item for Group Life Insurance in the
24 2021 Budget.
25 Section 3. Pursuant to approval by the City,this contract may be extended two(2)additional times of
26 the maximum seven (7)-year term in accordance with the renewal clause in the agreement.
27 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
29 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
31 resolution.
32 Section 5. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent with
33 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
34 PASSED: June 23,2020
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1 ATT 4j0 APPROVED:
2
yr'
•��:
3 OFArt
4 .u .n Laity Clerk Frank Scott,Jr.,Mayor
' '
5 AROV I TO LEGAL FORM:
6
7
8 Alexander J. on, Chief Deputy City Attorney
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