125921 RESOLUTION NO. 12,592
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3 A RESOLUTION TO AWARD THE BANKING SERVICES CONTRACT FOR 2008 AND
4 2009 TO METROPOLITAN NATIONAL BANK; AND FOR OTHER PURPOSES.
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6 WHEREAS, the City periodically bids for the award of its banking services contract to one of the
7 local financial institutions within the City, and
8 WHEREAS, after a competitive process which resulted in proposals from four different area banks,
9 it was determined that Metropolitan National Bank received the highest score for overall banking
10 services, and
11 WHEREAS, the Director of Finance 8t Treasurer and the City Manager recommend that this contract
12 be awarded to Metropolitan National Bank;
13 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
14 ROCK, ARKANSAS:
15 Section1. The Board of Directors hereby authorizes the City Manager to enter into an agreement
16 with Metropolitan National Bank to provide banking services to the City in accordance with the terms
17 and conditions offered in the proposal submitted on September 17, 2007.
18 Section 2. The City Manager shall have the option to extend this agreement for one two -year term
19 which will expire no later than December 31, 2011, if it is deemed in the best interests of the City to
20 do so.
21 Section 3. Severability. in the event any title, section, paragraph, item, sentence, clause,
22 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
23 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
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in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of the resolution.
Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
ADOPTED: October 16, 2007
ATTEST: APPROVED: j
Nano Wood, ity Clerk Mark Stodola, Mayor
34 APPROVED AS TO LEGAL FORM:
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37 Thomas M. Carpenter, City Attfirney