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ORDINANCE No. 17,454
AN ORDINANCE TO DESIGNATE FINANCIAL
ADVISOR, INVESTIIENT MANAGER, AND 304
ACTUARIAL SERVICES AS PROFESSIONAL
SERVICES, PURSUANT TO AUTHORITY
GRANTED IN ACT 429 OF 1995.
WHEREAS, Act 429 of 1995 was effective February 24, 1995,
and
WHEREAS, such Act expands the scope of Ark. Code Ann.
§19 -11 -801 et seq. regarding the selection of professional
services, and
WHEREAS, Act 429 authorizes a political subdivision to
include as professional services such consulting services as the
political subdivision shall designate by two - thirds vote of its
governing body, and
WHEREAS, the Board of Directors finds that, pursuant to
Little Rock, Ark. Ordinance 16,982, 51 (a)(3) (October 3, 1995),
price or cost bidding for the provision of Financial Advisor,
Investment Manager, and Actuarial Services for City pension
plans (the Non - uniform Employees' Pension Plan, the Municipal
Judges' Retirement Plan, the Police Pension and Relief Fund, and
the Firemen's Relief and Pension Fund) is impractical,
unfeasible, or, if based solely on price, would result in an
outcome that would not meet the best interests of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The provision of Financial Advisor, Investment
Manager, and Actuarial Services for City pension plans (the
Non - uniform Employees' Pension Plan, the Municipal Judges'
Retirement Plan, the Police Pension and Relief Fund, and the
Firemen's Relief and Pension Fund) are hereby declared
professional services. Such professional services shall be
contracted pursuant to the professional services laws of this
State, Ark. Code Ann. §19 -11 -801 - §19 -11 -806, as amended.
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PASSED: April 1, 1997
ATTEST:
"PROVED AS TO FORM:
v. i ri-x
THOMAS CARPENTER �U�
CITY ATTORNEY
-,J 1 !f•
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