HomeMy WebLinkAbout16241 1 RESOLUTION NO. 16,241
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A CONTRACT WITH FRIDAY, ELDREDGE & CLARK, LLP, IN
5 AN AMOUNT NOT TO EXCEED SEVENTY-FIVE THOUSAND
6 DOLLARS ($75,000.00), TO SERVE AS BOND COUNSEL FOR THE
7 PROPOSED ISSUANCE OF SHORT-TERM AND LONG-TERM
8 FINANCING INSTRUMENTS; AND FOR OTHER PURPOSES.
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10 WHEREAS, it is necessary to have Bond Counsel to provide counsel to the City on all legal matters
11 pertaining to either short-term financing and/or long-term financing and assistance in the issuing of one
12 (1)or more financing instruments in 2024; and,
13 WHEREAS, the City issued Request for Qualifications, Bid No. 2374, requesting proposals from
14 qualified firms to handle this work; and,
15 WHEREAS, the proposals received were reviewed and evaluated by a Professional Services
16 Selection Committee designated in accordance with City Ordinance; and,
17 WHEREAS,the Committee has concluded that the law firm of Friday, Eldredge& Clark, LLP, is the
18 most qualified and has the knowledge and experience with similar financings in Arkansas to provide
19 counsel to the City on any and all legal matters pertaining to the proposed financing instruments; and,
20 WHEREAS, the contract with Friday, Eldredge & Clark, LLP, shall be in an amount not to exceed
21 Seventy-Five Thousand Dollars($75,000.00); and,
22 WHEREAS, the term of contract with Friday, Eldredge & Clark, LLP, shall be from the effective
23 date of the contract through December 31, 2024.
24 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
25 OF LITTLE ROCK,ARKANSAS:
26 Section 1. The Board of Directors hereby authorizes the City Manager to enter into an agreement
27 with the firm of Friday, Eldredge & Clark, LLP, in an amount not to exceed Seventy-Five Thousand
28 Dollars ($75,000.00), to serve as Bond Counsel to provide counsel to the City on all legal matters
29 pertaining to either short-term financing and/or long-term financing and assistance in the issuing of one
30 (1)or more financing instruments in 2024
31 Section. Funds for this service are allocated in Outside Legal Costs, Account No. 102701-63220.
32 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
33 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
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I adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
2 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
3 resolution.
4 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
5 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
6 ADOPTED: February 20,2024
7 A . • APPROVED:
8 11111
10 . 1 • a iii`-City Clerk Frank Scott,Jr.,Ma
11 AP' ' E . • S TO LEGAL FORM:
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13 / A •
14 Thomas M. Carpenter,City Attor
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