HomeMy WebLinkAbout15118 I RESOLUTION NO. 15,118
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A FOURTH 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 ACCIDENTAL DEATH AND
8 DISMEMBERMENT (AD&D) INSURANCE FOR A PERIOD BEGINNING
9 JANUARY 1, 2020, TO DECEMBER 31, 2020; AND FOR OTHER
10 PURPOSES.
11
12 WHEREAS,the City provides certain life and Accidental Death&Dismemberment Insurance Benefits
13 for its employees, and after a competitive selection process it was determined that the most qualified
14 applicant with the best overall rate to provide such insurance for the current City employees is Metropolitan
15 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)and will allow for an increase of 100 new city employees in 2020.
18 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK,ARKANSAS:
20 Section 1. The City Manager is authorized to enter into a renewal agreement with Metropolitan Life
21 Insurance Company for Group Life and Accidental Death & Dismemberment Insurance for the period of
22 January 1, 2020, to December 31, 2020, for an amount not to exceed Five Hundred Twenty Thousand
23 Dollars($520,000.00) which will allow an increase of 100 new city employees in 2020. This represents
24 year four(4)of the seven(7)-year term.
25 Section 2. Funds for this agreement will be available from a line item for Group Life Insurance in the
26 2020 Budget.
27 Section 3. Pursuant to approval by the City, this contract may be extended three(3) additional times
28 of the maximum seven(7)-year term 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 ADOPTED: December 3,2019
4 iv. " APPROVED:
5
7 u <n g • City Clerk Frank Scott,Jr., : erg
8 AP 'O D • . TO LEGAL FORM:
9
i0 ��n
a4i4 •
1 I Thomas M.Carpenter,City Attorn I
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