HomeMy WebLinkAbout14444 1 RESOLUTION NO. 14,444
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A CONTRACT WITH METLIFE FOR GROUP LIFE INSURANCE
5 FOR A TWELVE (12)-MONTH PERIOD EFFECTIVE JANUARY 1, 2017;
6 TO INCLUDE A CLAUSE WHICH PERMITS THE CITY TO RENEW THE
7 CONTRACT AT ITS OPTION FOR SEVEN (7) ADDITIONAL YEARS;
8 AND FOR OTHER PURPOSES.
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10 WHEREAS,the City provides certain life insurance benefits for its employees,and after a competitive
11 selection process it was determined that the most qualified applicant with the best overall rate to provide
12 such insurance for the 1906 current City employees is MetLife; and,
13 WHEREAS, the basic cost of such coverage to the City will be Two Hundred Fifty-Two Thousand,
14 Three Hundred Twelve Dollars ($252,312.00) for 2017, which means that there is no increase in the cost
15 of the premium for this insurance;
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 an agreement with MetLife for employee life
19 insurance for the period of January 1, 2017, to December 31, 2017, for an amount not to exceed Two
20 Hundred Fifty-Two Thousand,Three Hundred Twelve Dollars($252,312.00)
21 Section 2. Funds for this agreement will be available from a line item for Employee Life Insurance in
22 the 2017 Budget.
23 Section 3. Pursuant to approval by the City,this contract may be extended seven(7) additional items
24 for seven(7)additional years in accordance with the renewal clause in the agreement.
25 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
26 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
27 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
28 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
29 resolution.
30 Section 5. Repealer. All laws, ordinances,resolutions,or parts of the same,that are inconsistent with
31 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
32 ADOPTED: November 1,2016
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1 A S APPROVED:
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3 N►/a��. i d�/ .� .�
4 anay,City Clerk Mar Stodola, ayor
5 • 'PR I) l:1 AS TO LEGAL FORM:
6 /
7 44;14414°7 / • AIAyr
8 Thomas M. Carpenter, ity Att s ey
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