HomeMy WebLinkAbout11247ORDINANCE NO. 11,247
AN ORDINANCE AUTHORIZING AND ACCEPTING RIDER N0. 2 TO GROUP ANNUITY
CONTRACT NO. U -3645 ISSUED BY MUTUAL OF NEW YORK LIFE INSURANCE
COMPANY ON JULY 1, 1960, WHICH CONTRACT WAS AUTHORIZED BY ORDINANCE
NO. 112088; AND FOR OTHER PURPOSES.
WHEREAS, the City.of Little Rock has heretofore entered into
a contract with Mutual of New York Life Insurance Company for an
annuity to be paid to retiring city employees under certain terms
and conditions in the form of a pension; and
WHEREAS, it has become necessary to amend said contract in
certain particulars,by attaching a rider thereto, so as to comply
with the needs of the parties more fully;
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. Rider No. 2 to Group Annuity Contract No. U -3645
issued by Mutual of New York Life Insurance Company on July 1,
1960, which Contract was authorized by Ordinance No. 11,088, is
hereby authorized and accepted by the City of Little Rock as set
forth in full in Section 2 hereof.
SECTION 2. Rider No. 2 to the policy referred to in Section
1 above shall be in form and substance as follows:
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SECTION 3. The Mayor and City Clerk are hereby authorized
and directed to execute for and in behalf of the City of Little
Rock the instrument described in Section 2 hereof and designated
"Rider No. 2 attached to and forming a part,of Group Annuity Con-
tract No. U -3645 issued by Mutual of New York Life Insurance Company
and dated July 1, 196011, and same shall, upon execution by the
Mayor and City Clerk, become and constitute Rider No. 2 for the
intents and purposes therein stated.
SECTION 4. This ordinance shall be in full force and effect
from and after its passage and approval.
PASSED: Jannary 8, 1962
ATTEST;.�
City Clerk
APPROVED:
Ma