HomeMy WebLinkAbout19893ll ORDINANCE NO. 19,893
33 AN ORDINANCE TO AUTHORIZE THE CITY TO JOIN THE ARKANSAS LOCAL
4� GOVERNMENT HEALTH MANAGEMENT TRUST ADMINISTERED BY THE
ARKANSAS MUNICIPAL LEAGUE; AND FOR OTHER PURPOSES.
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7I WHEREAS, the Governmental Accounting Standards Board ( "GASB ") issued Statement 45 in June,
2004 which was designed to improve the financial transparency of, the cost of other post employment
benefits ( "OPEB "), the largest of which is health insurance benefits to retirees; and
Il® WHEREAS, GASB 45 was written to provide more information as to the cost of OPEB benefits and
11 the costs to their respective state and local governments; and
112 WHEREAS, Cities can comply with GASB 45 by joining a qualified Health Management Trust and
113 making its OPEB contribution to it; and
14 WHEREAS, the Arkansas Local Government Health Management Trust (the "Trust ") was adopted by
15 the Arkansas Municipal League in August, 2007; and
16 WHEREAS, the City of Little Rock desires to join the Trust in order to comply with GASB 45.
17 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
IS ROCK, ARKANSAS:
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Section 1. The Board of Directors desires that the City join the Trust in order to comply with GASB
45 and authorizes the Mayor and City Clerk to execute the Joinder Agreement to the Arkansas Local
government Health Management Trust.
Section 2. Severability. In the event any portion of this resolution is declared or adjudged to be
invalid or unconstitutional, such declaration or adjudication shall not affect the remaining portions of
this resolution, which shall remain in full force and effect as if the portion so declared or adjudged
invalid or unconstitutional was not originally a part of this resolution.
Section 3. Repealer. All resolutions, and parts thereof, which are in conflict with any provision of
this resolution, are hereby repealed to the extent of such conflict.
ADOPTED: December 21, 2007
ATTEST:
N ncy Woo c(, City Clerk
APPROV AS TO LEGAL FORM:
Gc..o1. 1'A -
Thomas M. Carpenter, City Ai0orney
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APPROVED-.;,
Mark Stodola, Mayor