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AN ORDINANCE FOR THE PURPOSE OF AUTHORIZING THE MAYOR TO ENTER INTO A CONTRACT WITH TRAVELERS INSURANCE COMPANY FOR THE PURPOSE OF CREATING A PENSION PLAN FOR NON-UNIFORMED CITY EMPLOYEES
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WHEREAS, it has been found desirable for the City Council to create a Pension Plan for non-uniformed employees of the City of Jonesboro.
NOW THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
Section 1: That pursuant to Arkansas Statutes 19-908 the City of Jonesboro has authority to create a Pension Plan for non-uniformed employees; that a Pension Plan is desirable and needed by the employees of the City.
Section 2: That, the City Council has taken bids from various insurance companies on a pension plan and awarded the contract to Travelers Insurance Company. The Mayor and City Clerk are hereby authorized to enter into a contract with Travelers Insurance Company for a Pension Plan for non-uniformed employees.
Section 3: It is hereby found and declared by the City Council that a Pension Plan for non-uniformed employees in needed and desirable and that, therefore, an emergency exists and this Ordinance being necessary for the preservation of the public peace, health and safety, it shall take effect from and after its passage and approval.
PASSED and ADOPTED this 19th day of October, 1970.