HomeMy WebLinkAbout15740 1 RESOLUTION NO. 15,740
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A CONTRACT WITH FIRST SECURITY BANK, TO PROVIDE
5 BANKING SERVICES TO THE CITY OF LITTLE ROCK, ARKANSAS,
6 FOR 2023 AND 2024; AND FOR OTHER PURPOSES.
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8 WHEREAS,the City of Little Rock, Arkansas (City), periodically bids for the award of its Banking
9 Services Contract to one of the local financial institutions within the City; and,
10 WHEREAS, after a competitive process, First Security Bank receiving the highest score for overall
11 Banking Services;and,
12 WHEREAS, the City Manager and the Chief Financial Officer recommend that this contract be
13 awarded to First Security Bank,
14 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
15 OF LITTLE ROCK,ARKANSAS:
16 Section 1. The City Manager is authorized to enter into an agreement with First Security Bank to
17 provide Banking Services to the City in accordance with the terms and conditions offered in the proposal
18 submitted on May 26, 2022.
19 Section 2. The City Manager shall have the option to extend this agreement for five (5) additional
20 years, which will expire no later than December 31, 2029, if it is deemed in the best interests of the City
21 to do so.
22 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
23 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
24 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
25 effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part of the
26 resolution.
27 Section 4. Repealer. All resolutions, bylaws, and other matters inconsistent with this resolution are
28 hereby repealed to the extent of such inconsistency.
29 ADOPTED: August 16,2022
30 ATTEST: APPROVED:
31
32 AV
33 Allison Segars, City Clerk Frank Scott,Jr.,Mayor
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1 APPRO D AS TO LEGAL FORM:
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3 klAA4-1 Pt/i• s,
4 Thomas M.Carpenter,City Atto
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