Board of Directors Special Called Meeting

March 8, 2022

4:00 PM

ROLL CALL

INVOCATION

PLEDGE OF ALLEGIANCE

Modifications

ADDITIONS:
M-1 RESOLUTION		To state the support of the City of Little Rock, Arkansas, for the people of Ukraine as they heroically resist the blatant and unwarranted attack on their freedom by Russia; and for other purposes. (Sponsored by Director Kumpuris)(Requires a supermajority vote for addition)
Agenda
1. ORDINANCE Board Communication	To declare it impractical and unfeasible to bid; to authorize Osborn, Carreiro & Associates, Inc., to perform an Actuarial Evaluation and Stress Testing, at a cost not to exceed $6,750.00, for the purpose of evaluating the feasibility of various benefit increase amounts for members of the Little Rock Firemen’s Relief and Pension Fund, now administered by the Arkansas Local Police and Fire Retirement System; to declare an emergency; and for other purposes. (1^st & 2^nd Reading held on March 1, 2022) Staff recommends approval. Synopsis: An ordinance to authorize a sole-source contract with Osborn, Carreiro and Associates, Inc., to perform an actuarial evaluation and stress testing of the Firemen’s Relief and Pension Fund, now administered by the Arkansas Local Police and Fire Retirement System, for the purpose of evaluating the feasibility of various benefit increase amounts for members of the Firemen’s Relief and Pension Fund and eligible survivors.
2. ORDINANCE Board Communication	To amend Little Rock, Ark., Ordinance No. 22,067 (November 16, 2021), to include funding for a pilot program for the project for a Community Schools Afterschool Arts Program by the University of Arkansas, Fayetteville, A+ Arkansas, and to amend the date of the grant term; and for other purposes. (1^st & 2^nd Reading held on March 1, 2022) Staff recommends approval. Synopsis: An ordinance to amend Ordinance No. 22,067 (November 16, 2021), to add funding from the Windgate Grant to the Subrecipient, University of Arkansas, A+ Arkansas to provide funding for Afterschool Programming and a pilot thereof and to amend the term of the grant.
3. ORDINANCE	To call a Special Election in the City of Little Rock, Arkansas, for the purpose of submitting to the electors of the City the question of reducing the existing Combined Annual Library Ad Valorem Property Tax for capital improvements from the existing combined rate of 1.8 mills (currently consisting of two (2) separate 0.9 mils) to the new rate of 1.3 mills on the dollar assessed valuation of taxable property in the City of Little Rock, to be extended and pledged to an issue or issues of taxable, tax-exempt, or both, bonds not to exceed $42,000,000.00 in aggregate principal amount, to refund one (1) or more outstanding issues of Capital Improvement Bonds and to finance the acquiring, constructing and equipping of additional capital improvements of public libraries owned and operated by the City of Little Rock and Central Arkansas Library System; and, to authorize the issuance of the bonds on such terms and conditions as shall be approved by the City of Little Rock; prescribing other matters relating thereto; to declare an emergency; and for other purposes. (1^st & 2^nd Reading held on March 1, 2022) Staff recommends approval.