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AN ORDINANCE TO WAIVE COMPETITIVE BIDDING FOR ACTUARIAL WORK NEEDED FOR A DEFINED BENEFIT RETIREMENT PLAN
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BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: That the City of Jonesboro needs to provide actuarial work for its Defined Benefit Retirement Plan.
SECTION 2: That said actuarial work may be purchased from H & H Corporation of Arkansas. Said purchase best meeting the needs desired by the City of Jonesboro for a cost of $6,500.00 per year.
SECTION 3: That the City Council in accord with the terms of A.C.A. 14-58-302 (2B) hereby waives the requirement of competitive bidding and directs the Purchasing Agent to purchase the above described services for the price set forth in Section Two above.
SECTION 4: It is further found that due to the immediate need to acquire the above services, an emergency is declared to exist and this ordinance being necessary for the preservation of the Public peace, health and safety shall take effect from and after its passage and approval.
PASSED AND ADOPTED this 21st day of March, 1994.