Tulare City Council
February 17, 2026

for such service and such services shall not be deemed to be contrary to the Trust Agreement.

3.12 Trust Administrator's Compensation
As may be agreed upon from time to time by the Employer and Trust Administrator, the Trust Administrator will be paid reasonable compensation for services rendered or reimbursed for expenses properly and actually incurred in the perfonnance of duties with respect to such Employer's Agency Account and to the Trust.

3.13 Resignation or Removal of Trust Administrator
The Employers may act to remove the Trust Administrator, provided that such action must satisfy the voting requirements set forth in Section 3.9 and notice of such action must be promptly delivered to the Trust Administrator, the Trustee and each Plan Administrator. The Trust Administrator may also resign at any time by giving at least one hundred and twenty (120) days prior written notice to the Trustee and to the Plan Administrator of each Employer that has adopted the Trust Agreement and not terminated its participation in the Trust; provided, however, that the Trust Administrator may resign immediately upon the earlier of the approval date or the effective date of any amendment of the Trust Agreement by the Employers that would change or modify the duties, powers or liabilities of the Trust Administrator hereunder without the Trust Administrator's consent. l11e Trust Administrator shall, upon the appointment and acceptance of a successor trust administrator, transfer all records relating to the Trust to the successor.

ARTICLE IV

THE TRUSTEE

4.1 Powers and Duties of the Trustee
Except as otherwise provided in Article V and subject to Article VI, the Trustee shall have full power and authority with respect to property held in the Trust to do all such acts, take all proceedings, and exercise all such rights and privileges, whether specifically referred to or not in this document, as could be done, taken or exercised by the absolute owner, including, without limitation, the following:
(a) To invest and reinvest the Assets or any part hereof in any one or more kind, type, class, item or parcel of property, real, personal or mixed, tangible or intangible; or in any one or more kind, type, class, item or issue of investment or security; or in any one or more kind, type, class or item of obligation, secured or unsecured; or in any combination of them (including those issued by the Trustee of any of its affiliates, to the extent permitted by applicable law), and to retain the property for the period of time that the Trustee deems appropriate;

(b) To acquire and sell options to buy securities ("call" options) and to acquire and sell options to sell securities ("put" options);
(c) To buy, sell, assign, transfer, acquire, loan, lease (for any purpose, including mineral leases), exchange and in any other manner to acquire, manage, deal with and dispose of all or any part of the Trust property, for cash or credit and upon any reasonable terms and conditions;
( d) To make deposits, with any bank or savings and loan institution, including any such facility of the Trustee or an affiliate thereof provided that the deposit bears a reasonable rate of interest;
(e) To invest and reinvest the Assets, or any part thereof in any one or more collective investment trust funds, including common and group trust funds that consist exclusively of assets of exempt pension and profit sharing trusts and individual retirement accounts qualified and tax exempt under the Code, that are maintained by the Trustee or an affiliate thereof. The declaration of trust or plan of operations for any such common or collective fund is hereby incorporated herein and adopted into this Trust Agreement by this reference. The combining of money and other assets of the Trust with money and other assets of other nonqualified trusts in such fund or funds is specifically authorized. Notwithstanding anything to the contrary in this Trust Agreement, the Trustee shall have full investment responsibility over Assets of the Trust invested in such commingled funds. If the plan and trust for any reason lose their tax exempt status, and the Assets have been commingled with assets of other tax exempt trusts in Trustee's collective investment funds, the Trustee shall within 30 days of notice of such loss of tax exempt status, liquidate the Trust's units of the collective investment fund( s) and invest the proceeds in a money market fund pending investment or other instructions from the Plan Administrator. The Trustee shall not be liable for any loss or gain or taxes, if any, resulting from said liquidation; (f) To place uninvested cash and cash awaiting distribution in one or more mutual funds and/or commingled investment funds maintained by or made available by the Trustee or any of its affiliates, and to receive compensation from the sponsor of such fund( s) for services rendered, separate and apart from any Trustee's fees hereunder. The Trustee or its affiliate may also be compensated for providing investment advisory services to any mutual fund or commingled investment funds;
(g) To borrow money for the purposes of the Trust from any source with or without giving security; to pay interest; to issue promissory notes and to secure the repayment thereof by pledging all or any part of the Assets; (h) To take all of the following actions: to vote proxies of any stocks, bonds or other securities; to give general or special proxies or powers of attorney with or

without power of substitution; to exercise any conversion privileges, subscription rights or other options, and to make any payments incidental thereto; to consent to or otherwise participate in corporate reorganizations or other changes affecting corporate securities and to delegate discretionary powers and to pay any assessments or charges in connection therewith; and generally to exercise any of the powers of an owner with respect to stocks, bonds, securities or other property held in the Trust;
(i) To make, execute, acknowledge and deliver any and all documents of transfer and conveyance and any and all other instruments that may be necessary or appropriate to carry out the powers herein granted;
(j) To raze or move existing buildings; to make ordinary or extraordinary repairs, alterations or additions in and to buildings; to construct buildings and other structures and to install fixtures and equipment therein; (k) To pay or cause to be paid from the Trust any and all real or personal property taxes, income taxes or other taxes or assessments of any or all kinds levied or assessed upon or with respect to the Trust;
(I) To exercise all the further rights, powers, options and privileges granted, provided for, or vested in trustees generally under applicable federal or state laws, as amended from time to time, it being intended that, except as herein otherwise provided, the powers conferred upon the Trustee herein shall not be construed as being in limitation of any authority conferred by law, but shall be construed as consistent or in addition thereto.

4.2 Additional Trustee Powers
In addition to the other powers enumerated above, the Trustee in any and all events is authorized and empowered:
(a) To invest funds pending required directions in any type of interest-bearing account, including, without limitation, time certificates of deposit or interestbearing accounts issued by the Trustee, or any mutual fund or short term investment fund ("Fund"), whether sponsored or advised by the Trustee or any affiliate thereof); the Trustee or its affiliates may be compensated for providing such investment advice and providing other service to such Fund, in addition to any Trustee's fees received pursuant to this Trust Agreement; (b) To cause all or any part of the Trust to be held in the name of the Trustee (which in such instance need not disclose its fiduciary capacity) or, as permitted by law, in the name of any nominee, and to acquire for the Trust any investment in bearer form, but the books and records of the Trust shall at all times show that all such investments are a part of the Trust and the Trustee shall hold evidences of title to all such investments;

(c) To serve as custodian with respect to the Trust Assets; ( d) To employ such custodians, agents and counsel as may be reasonably necessary in managing and protecting the Assets and to pay them reasonable compensation from the Trust; to employ any broker-dealer or other agent, including any broker-dealer or other agent affiliated with the Trustee, and pay to such broker-dealer or other agent, at the expense of the Trust, its standard commissions or compensation; to settle, compromise or abandon all claims and demands in favor of or against the Trust; and to charge any premium on bonds purchased at par value to the principal of the Trust without amortization from the Trust, regardless of any law relating thereto;
( e) In addition to the powers listed herein, to do all other acts necessary or desirable for the proper administration of the Trust, as though the absolute owner thereof;
(f) To prosecute, compromise and defend lawsuits, but without obligation to do so, all at the risk and expense of the Trust; and to tender its defense to the Employer in any legal proceeding where the interests of the Trustee and the Employer are not adverse;
(g) To exercise and perform any and all of the other powers and duties specified in this Trust Agreement or the Plan;
(h) To permit such inspections of documents at the principal office of the Trustee as are required by law, subpoena or demand by a United States agency; (i) To comply with all requirements imposed by applicable provisions oflaw; (j) To seek written instructions from the Plan Administrator or other fiduciary on any matter and await their written instructions without incurring any liability.

If at any time the Plan Administrator or the fiduciary should fail to give directions to the Trustee, the Trustee may act in the manner that in its discretion seems advisable under the circumstances for carrying out the purposes of the Trust; (k) To compensate such executive, consultant, actuarial, accounting, investment, appraisal, administrative, clerical, secretarial, medical, custodial, depository and legal firms, personnel and other employees or assistants as are engaged by the Plan Administrator in connection with funding the Employer's OPEB Obligation or Pension Obligation or both and to pay from the Trust the necessary expenses of such firms, personnel and assistants, to the extent not paid by the Plan Administrator;

(1) To act upon proper written directions of the Plan Administrator or Delegatee, including directions given by photostatic transmissions using facsimile signature, and such other forms of directions as the parties shall agree; (m) To pay from the Trust the expenses reasonably incurred m the administration of the Trust;
(n) To maintain insurance for such purposes, in such amounts and with such companies as the Plan Administrator shall elect, including insurance to cover liability or losses occurring by reason of the acts or omissions of fiduciaries but only if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary.

ARTICLEV

INVESTMENTS

5.1 Discretionary Versus Directed Investment
For the Pension Account and the OPEB Account under the Agency Account, the Employer shall elect either a discretionary or directed investment approach. The Employer may elect the same or different investment approaches for those two subaccounts. The Employer hereby elects a directed approach for the Suspense Account. If the Employer elects a discretionary investment approach for a subaccount, the Employer shall further elect between the various investment strategies offered and the Trustee, in accordance with Article IV, shall have absolute discretion over the investment of the Assets held in such subaccount under the Employer's Agency Account. If the Employer elects a directed investment approach for a subaccount, the Trustee shall direct the investment of the Assets of such subaccount under the Employer's Agency Account in accordance with the direction provided by such Employer.

5.2 Trustee Fees
As may be agreed upon, in writing, between the Plan Administrator and Trustee, the Trustee will be paid reasonable compensation for services rendered or reimbursed for expenses properly and actually incurred in the performance of duties with respect to the applicable Agency Account or the Trust.

5.3 Contributions
Eligible Employees are not permitted to make contributions to the Trust. The Plan Administrator shall, on behalf of the Employer, make all contributions to the Trustee. Such contributions shall be in cash unless the Trustee agrees to accept a contribution that is not in cash. All contributions shall be paid to the Trustee for investment and reinvestment pursuant to the terms of this Trust Agreement. The Trustee shall not have any duty to determine or inquire whether any contributions

to the Trust made to the Trustee by any Plan Administrator are in compliance with the Employer's Pension Plan or OPEB Plan; nor shall the Trustee have any duty or authority to compute any amount to be paid to the Trustee by any Plan Administrator; nor shall the Trustee be responsible for the collection or adequacy of the contributions to meet an Employer's Pension Obligation or OPEB Obligation. The contributions received by the Trustee from each Employer shall be held and administered pursuant to the terms hereof without distinction between income and principal.

5.4 Records
(a) The Trustee shall maintain accurate records and detailed accounts of all investments, receipts, disbursements and other transactions hereunder at the Trust level. Such records shall be available at all reasonable times for inspection by the Trust Administrator. The Trustee shall, at the direction of the Trust Administrator, submit such valuations, reports or other information as the Trust Administrator may reasonably require.
(b) The Assets of the Trust shall be valued at their fair market value on the date of valuation, as determined by the Trustee based upon such sources of information as it may deem reliable; provided, however, that the Plan Administrator shall instruct the Trustee as to valuation of assets which are not readily determinable on an established market. The Trustee may rely conclusively on such valuations provided by the Plan Administrator and shall be indemnified and held harmless by the Employer with respect to such reliance. If the Plan Administrator fails to provide such values, the Trustee may take whatever action it deems reasonable, including employment of attorneys, appraisers or other professionals, the expense of which will be an expense of administration of the Trust. Transactions in the account involving such hard to value assets may be postponed until appropriate valuations have been received and Trustee shall have no liability therefore.

5.5 Statements
(a) Periodically as specified, and within sixty days after December 31, or the end of the Trust's fiscal year if different, Trustee shall render to the Trust Administrator as directed, a written account showing in reasonable summary the investments, receipts, disbursements and other transactions engaged in by the Trustee during the preceding fiscal year or period with respect to the Trust. Such account shall set forth the assets and liabilities of the Trust valued as of the end of the accounting period.
(b) The Trust Administrator may approve such statements either by written notice or by failure to express objections to such statements by written notice delivered to the Trustee within 90 days from the date the statement is delivered to the Trust Administrator. Upon approval, the Trustee shall be released and discharged as to all matters and items set fmih in such statement as if such

account had been settled and allowed by a decree from a court of competent jurisdiction.

5.6 Wire Transfers
The Trustee shall follow the Plan Administrator's, Delegatee's, or Trust Administrator's wire transfer instructions in compliance with the written security procedures provided by the party providing the wire transfers. The Trustee shall perform a telephonic verification to the Plan Administrator, Trust Administrator, or Delegatee, or such other security procedure as selected by the party providing wire transfer directions, prior to wiring funds or following facsimile directions as Trustee may require. The Plan Administrator assumes the risk of delay of transfer if Trustee is unable to reach the Plan Administrator, or in the event of delay as a result of attempts to comply with any other security procedure selected by the directing party.

5. 7 Exclusive Benefit
The Assets of an Employer's Agency Account shall be held in trust for the exclusive purpose of funding the Employer's OPEB Obligation or Pension Obligation or both and defraying the reasonable expenses associated with the same and shall not be used for or diverted to any other purpose. No party shall have authority to use or divert the Assets of an Agency Account of an Employer for the satisfaction of any other Employer's Pension Obligation or OPEB Obligation or any other Employer's expenses.

5.8 Delegation of Duties
The Plan Administrator, Delegatee, or Trust Administrator, may at any time retain the Trustee as its agent to perform any act, keep any records or accounts and make any computations that are required of the Plan Administrator, Delegatee or Trust Administrator by this Trust Agreement or by the Plan. The Trustee may be compensated for such retention and such retention shall not be deemed to be contrary to this Trust Agreement.

5.9 Distributions
(a) The Trustee shall, from time to time, upon the written direction of the Plan Administrator or Delegatee, make distributions from the Assets of the Trust under the OPEB Account to the insurers, third party administrators, service providers or other entities providing benefits or services under the OPEB Plan, or to Eligible Employees and Eligible Beneficiaries for reimbursement of OPEB Plan premiums (or other payments for OPEB Plan benefits) paid by the Eligible Employee or Eligible Beneficiary, or to the Employer for reimbursement of OPEB Plan benefits and expenses paid by the Employer, in such manner in such form(s), in such amounts and for such purposes as may be specified in such directions.

(b) In addition, the Trustee shall, from time to time, upon the written direction of the Plan Administrator or Delegatee, make distributions from the Assets of the Trust under the Pension Account directly to (i) the Qualified Trust as employer contributions, (ii) any insurers, third party administrators, service providers or other entities providing services in connection with determining the Employer's Pension Obligation, or (iii) the Employer as reimbursement for the Employer's payment of amounts described in this Section 5.9(b)(i) and (ii). (c) In no event shall the Trustee have any responsibility respecting the application of distributions from the Assets of the Trust, or for determining or inquiring into whether such distributions are in accordance with the Employer's OPEB Plan, Pension Plan, policies, or applicable collective bargaining agreements.

ARTICLE VI

FIDUCIARY RESPONSIBILITIES

6.1 More Than One Fiduciary Capacity
Any one or more of the fiduciaries with respect to the Trust Agreement or the Trust may, to the extent required thereby or as directed by the Plan Administrator pursuant to this Trust Agreement, serve in more than one fiduciary capacity with respect to the Trust Agreement and the Trust.

6.2 Fiduciary Discharge of Duties
Except as otherwise provided by applicable law, each fiduciary shall discharge such fiduciary's duties with respect to the Trust Agreement and the Trust:
(a) solely in the interest of the Eligible Employees and for the exclusive purpose of funding the Employer's OPEB Obligation or Pension Obligation or both and defraying the reasonable expenses associated with the same; and (b) with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims.

6.3 Limitations on Fiduciary Responsibility
To the extent allowed by the laws of the state of each Employer:

No fiduciary shall be liable with respect to a breach of fiduciary duty by any other fiduciary if such breach was committed before such party became a fiduciary or after such party ceased to be a fiduciary.

No fiduciary shall be liable for a breach by another fiduciary except as provided bylaw.

No fiduciary shall be liable for carrying out a proper direction from another fiduciary, including refraining from taking an action in the absence of a proper direction from the other fiduciary possessing the authority and responsibility to make such a direction, which direction the fiduciary in good faith believes to be authorized and appropriate.

6.4 Indemnification of Trustee by Employer
The Trustee shall not be liable for, and Employer shall (to the extent allowed by the laws of the state of each Employer) indemnify, defend (as set out in Section

6.8 of this Trust Agreement), and hold the Trustee (including its officers, agents, employees and attorneys) and other Employers hannless from and against any claims, demands, loss, costs, expense or liability imposed on the indemnified party, including reasonable attorneys' fees and costs incurred by the indemnified party, arising as a result of Employer's active or passive negligent act or omission or willful misconduct in the execution or performance of its duties under this Trust Agreement.

6.5 Indemnification of Employer by Trustee
The Employer shall not be liable for, and Trustee shall (to the extent allowed by the laws of the state of each Employer) indemnify, defend (as set out in Section

6.8 of this Trust Agreement), and hold the Employer (including its officers, agents, employees and attorneys) and other Employers harmless from and against any claims, demands, loss, costs, expense or liability imposed on the indemnified party, including reasonable attorneys' fees and costs incurred by the indemnified party, arising as a result of Trustee's active or passive negligent act or omission or willful misconduct in the execution or performance of its duties under this Trust Agreement.

6.6 Indemnification of Trustee by Trust Administrator
The Trustee shall not be liable for, and Trust Administrator shall (to the extent allowed by the laws of the state of each Employer) indemnify and hold the Trustee (including its officers, agents, employees and attorneys) harmless from and against any claims, demands, loss, costs, expense or liability imposed on the indemnified party, including reasonable attorneys' fees and costs incurred by the indemnified party, arising as a result of Trust Administrator's active or passive negligent act or omission or willful misconduct in the execution or performance of its duties under this Trust Agreement.

6.7 Indemnification of Trust Administrator by Trustee
The Trust Administrator shall not be liable for, and Trustee shall (to the extent allowed by the laws of the state of each Employer) indemnify and hold the Trust

Administrator (including its officers, agents, employees and attorneys) harmless from and against any claims, demands, loss, costs, expense or liability imposed on the indemnified party, including reasonable attorneys' fees and costs incurred by the indemnified party, arising as a result of Trustee's active or passive negligent act or omission or willful misconduct in the execution or performance of its duties under this Trust Agreement.

6.8 Indemnification Procedures
Promptly after receipt by an indemnified party of notice or receipt of a claim or the commencement of any action for which indemnification may be sought, the indemnified party will notify the indemnifying party in writing of the receipt or commencement thereof. When the indemnifying party has agreed to provide a defense as set out above that party shall assume the defense of such action (including the employment of counsel, who shall be counsel reasonably satisfactory to such indemnitee) and the payment of expenses, insofar as such action shall relate to any alleged liability in respect of which indemnity may be sought against the indemnifying party. Any indemnified party shall have the right to employ separate counsel in any such action and to participate in the defense thereof, but the fees and expenses of such counsel shall not be at the expense of the indemnifying party unless (i) the employment of such counsel has been specifically authorized by the indemnifying party or (ii) the named parties to any such action (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interest between them.

The indemnifying party shall not be liable to indemnify any person for any settlement of any such action effected without the indemnifying party's consent.

The indemnification procedures of this Trust Agreement shall survive the termination of the Trust, any Employer's participation in the Trust and/or this Trust Agreement.

6.9 No Joint and Several Liability
This document is not intended to and does not create any joint powers agreement or any joint and several liability. No Employer shall be responsible for any contributions, costs or distributions of any other Employer.

ARTICLE VII

AMENDMENT, TERMINATION AND MERGER

7.1 No Contractual Obligation
An Employer's participation in the Trust does not create, and is not intended to create, any contractual obligation to Eligible Employees. Therefore, no Employer is contractually obligated to Eligible Employees solely due to its participation in

the Trust to continue providing benefits under its Pension Plan or OPEB Plan or to make contributions to the Trust.

7.2 Amendment of Trust
(a) The Trust Agreement may be amended only by the approval of two-thirds (2/3) or more of the Employers then participating in the Trust. Any such amendment by the Employers shall be set forth in an instrument in writing and shall be delivered to the Trustee, the Trust Administrator and all Plan Administrators not less than one hundred and eighty (180) days before the effective date of such amendment; provided, however, that any party may waive in writing such 180-day requirement with respect to any amendment (and such waiver shall not constitute a waiver with respect to any other amendment); and provided, further, that a waiver in writing of such 180-day requirement by twothirds (2/3) or more of the Plan Administrators of the Employers participating in the Trust as of the date the amendment is adopted shall constitute a waiver of such 180-day requirement by all of the Employers then participating in the Trust. In addition, the Trust Administrator or the Trustee shall have the right to amend this Trust Agreement from time to time (without the requirement of a vote of Employers) solely for the purpose of keeping the Trust Agreement in compliance with the Code and applicable state law. Any such amendment by the Trust Administrator or the Trustee shall be set forth in an instrument in writing and shall be delivered to the Trustee, the Trust Administrator and all Plan Administrators promptly as each is made.
(b) Any amendment of the Trust Agreement may be current, retroactive or prospective, provided, however, that no amendment shall:
(1) Cause the Assets of any Agency Account to be used for or diverted to purposes other than for the exclusive purpose of funding the Employer's OPEB Obligation or Pension Obligation or both and defraying the reasonable expenses associated with the same.
(2) Permit the Assets of any Agency Account to be used for the benefit of any other Employer.

7.3 Termination of Employer's Obligation to Provide Pension Benefits or OPEB A termination of the Employer's obligation to provide benefits under the Employer's Pension Plan or OPEB Plan for which the Employer's Agency Account was established shall not, in itself, effect a termination of the Agency Account. Upon a termination of the Employer's obligation to provide benefits under its Pension Plan or OPEB Plan, the Assets of the Employer's Pension Account or OPEB Account, as applicable, will be distributed by the Trustee when directed by the Plan Administrator in accordance with this Section 7.3. From and after the date of such termination and until final distribution of all Assets under the Employer's Agency Account, the Trustee shall continue to have all the powers

provided herein as are necessary or expedient for the orderly liquidation and distribution of such Assets, and the Agency Account shall continue until the Assets have been completely distributed. Any Assets remaining in the Pension Account or OPEB Account will be used first to satisfy any remaining Pension Obligation or OPEB Obligation, respectively, pursuant to the Employer's Pension Plan or OPEB Plan (to the extent that such distribution constitutes the exercise of an "essential governmental function" within the meaning of Section 115 of the Code) and to satisfy any of such Employer's obligations under this Trust Agreement. Any Assets remaining in the Employer's Pension Account or OPEB Account (as applicable) after giving effect to the preceding sentence will be paid to the Employer to the extent permitted by law and consistent with the requirements of Section 115 of the Code.

7.4 Fund Recovery Based on Mistake of Fact
Except as hereinafter provided or in accordance with Section 7.3, the Assets of the Trust shall never inure to the benefit of the Employer. The Assets shall be held for the exclusive purpose of funding the Employer's OPEB Obligation or Pension Obligation or both and defraying the reasonable expenses associated with the same. However, in the case of a contribution which is made by an Employer because of a mistake of fact, that portion of the contribution relating to the mistake of fact ( exclusive of any earnings or losses attributable thereto) may be returned to the Employer, provided such return occurs within two (2) years after discovery by the Employer of the mistake. If any repayment is payable to the Employer, then, as a condition to such repayment, and only if requested by Trustee, the Employer shall execute, acknowledge and deliver to the Trustee its written undertaking, in a form satisfactory to the Trustee, to indemnify, defend and hold the Trustee harmless from all claims, actions, demands or liabilities arising in connection with such repayment.

7.5 Termination of Trust
(a) The Trust and this Trust Agreement may be terminated by the unanimous agreement of all Employers, which action must be in writing and delivered to the Trustee and Trust Administrator. Upon termination of the Trust under this Section

7.5(a), the Assets of each Employer's Pension Account or OPEB Account, as applicable, will be distributed by the Trustee when directed by the Plan Administrator in accordance with this Section 7.5(a). From and after the date of such termination and until final distribution of all Assets under each Employer's Agency Account, the Trustee shall continue to have all the powers provided herein as are necessary or expedient for the orderly liquidation and distribution of such Assets, and the Agency Account shall continue until the Assets have been completely distributed. Any Assets remaining in the Pension Account or OPEB Account will be used first to satisfy any remaining Pension Obligation or OPEB Obligation, respectively, pursuant to the Employer's Pension Plan and OPEB Plan (to the extent that such distribution constitutes the exercise of an "essential governmental function" within the meaning of Section 115 of the Code) and to

satisfy any of such Employer's obligations under this Trust Agreement. Any Assets remaining in the Employer's Pension Account or OPEB Account (as applicable) after giving effect to the preceding sentence will be paid to the Employer to the extent permitted by law and consistent with the requirements of Section 115 of the Code.
(b) Contributions to the Trust are conditioned on initial qualification of the Trust under Section 115 of the Code. If the Trust receives an adverse determination with respect to its initial qualification, then the Trust and this Trust Agreement will automatically terminate without any action by any Employer or other parties. After such termination, the Assets of each Employer's Pension Account or OPEB Account, as applicable, will be returned by the Trustee to the Employer as directed by the Plan Administrator in accordance with this Section

7.5(b) to the extent permitted by law and consistent with the requirements of Section 115 of the Code. This Section 7.5(b) will cease to apply upon the Trust's receipt of a favorable determination with respect to its initial qualification. ( c) The Trust and this Trust Agreement may be terminated only as described in this Section 7.5. In no case will the assets of the Trust be distributed on termination to an entity that is not a state, a political subdivision of a state or an entity the income of which is excluded from gross income under Section 115 of the Code.

ARTICLE VIII

MISCELLANEOUS PROVISIONS

8.1 Non alienation
Eligible Employees do not have an interest in the Trust. Accordingly, the Trust shall not in any way be liable to attachment, garnishment, assignment or other process, or be seized, taken, appropriated or applied by any legal or equitable process, to pay any debt or liability of an Eligible Employee or any other party.

Trust Assets shall not be subject to the claims of any Employer or the claims of its creditors.

8.2 Saving Clause
In the event any provision of this Trust Agreement is held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts of the Trust Agreement, but this instrument shall be construed and enforced as if said provision had never been included.

8.3 Applicable Law
This Trust Agreement and the Trust shall be construed, administered and governed under the Code and the law of the State of California. To the extent any Page23 of25
of the provrn10ns of this Trust Agreement are inconsistent with the Code or applicable state law, the provisions of the Code or state law shall control. In the event, however, that any provision is susceptible to more than one interpretation, such interpretation shall be given thereto as is consistent with the Trust Agreement being a tax-exempt trust within the meaning of the Code.

8.4 Joinder of Parties
In any action or other judicial proceedings affecting this Trust Agreement, it shall be necessary to join as parties only the Trustee, the Plan Administrator or Delegatee. No participant or other persons having an interest in the Trust or any Agency Account shall be entitled to any notice or service of process unless otherwise required by law. Any judgment entered in such a proceeding or action shall be binding on all persons claiming under this Trust Agreement; provided, however, that nothing in this Trust Agreement shall be construed as to deprive a participant of such participant's right to seek adjudication of such participant's rights under applicable law.

8.5 Employment of Counsel
The Trustee may consult with legal counsel (who may be counsel for the Trustee, the Trust Administrator or any Employer) with respect to the interpretation of this Agreement or the Trustee's duties hereunder or with respect to any legal proceedings or m1y questions of law and shall be entitled to take action or not to take action in good faith reliance on the advice of such counsel and charge the Trust and, as applicable, one or more Agency Accounts.

8.6 Gender and Number
Words used in the masculine, feminine or neuter gender shall each be deemed to refer to the other whenever the context so requires; and words used in the singular or plural number shall each be deemed to refer to the other whenever the context so reqmres.

8.7 Headings
Headings used in this Trust Agreement are inserted for convenience of reference only and any conflict between such headings and the text shall be resolved in favor of the text.

8.8 Counterparts
This Trust Agreement may be executed in an original and any number of counterparts by the Plan Administrator (executing an Adoption Agreement), the Trust Administrator and the Trustee, each of which shall be deemed to be an original of the one and the same instrument.

IN WITNESS WHEREOF, the Plan Administrator (by executing the Adoption Agreement), the Trustee and the Trust Administrator have executed this Trust Agreement by their duly authorized agents on the Effective Date.

U.S. BANK NATIONAL ASSOCIATION
::rustee" ~
Susan M. Hughes
Typed or printed name
Its: Vice President & Relationship Manager

PUBLIC AGENCY

RETIREMENT SERVICES
::ru~
Daniel Johnson
Typed or printed name
Its: President

AGREEMENT
FOR

PENSION TRUST ADMINISTRATION

SERVICES

BETWEEN

THE CITY OF TULARE
AND
PHASE II SYSTEMS D.B.A. “PUBLIC
AGENCY RETIREMENT SERVICES” AND
“PARS”
Consulting Services Agreement
Phase II Systems dba Public Agency Retirement Services and PARS February 2026

CONTENTS

1. Professional Services..............................................................................................................................1

2. Compensation.........................................................................................................................................1

3. Billing.....................................................................................................................................................1

4. Ownership of Documents.......................................................................................................................2

5. Term. ......................................................................................................................................................2

6. Independent Contractor. .........................................................................................................................2

7. Warranty.................................................................................................................................................2

8. Indemnification and Hold Harmless.......................................................................................................3

9. Insurance. ...............................................................................................................................................3

10. Access to Records. .................................................................................................................................4

11. Termination. ...........................................................................................................................................5

12. Compliance with Laws, Rules, and Regulations. ...................................................................................5

13. Nondiscrimination..................................................................................................................................5

14. Notice. ....................................................................................................................................................5

15. Exhibits Incorporated. ............................................................................................................................5

16. Jurisdiction and Venue. ..........................................................................................................................6

17. Severability.............................................................................................................................................6

18. Assignment.............................................................................................................................................6

19. Waiver. ...................................................................................................................................................6

20. Equitable Remedies................................................................................................................................6

21. Third Party Beneficiaries........................................................................................................................6

22. Entire Agreement. ..................................................................................................................................6

23. No Waiver of Rights...............................................................................................................................7

24. Information Furnished to Consultant......................................................................................................7

25. Force Majeure.........................................................................................................................................7

26. Counterparts. Electronic Signatures. ......................................................................................................7 Exhibit A – Scope of Services......................................................................................................................9 Exhibit B – Fees..........................................................................................................................................11 Exhibit C – Data Requirements ..................................................................................................................12 Consulting Services Agreement Page 1 of 12
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CONSULTING SERVICES AGREEMENT
This CONSULTING SERVICES AGREEMENT (the “Agreement”) is made and entered into as of the 18th day of February 2026, (“Effective Date”), by and between the CITY OF TULARE (hereinafter the “City”) and PHASE II SYSTEMS, a California corporation, d.b.a. Public Agency Retirement Services and PARS (hereinafter the “Consultant”).

Upon the following terms and conditions of this Agreement, the City desires to retain Consultant to perform the following:

1. PROFESSIONAL SERVICES.

Consultant will provide comprehensive trust administration services for the City’s irrevocable supplemental pension trust (the “Trust”) under the terms and conditions of this Agreement at the direction of the City’s Chief Financial Officer or his/her Designee. The scope of work to be performed by Consultant is provided for in Exhibit “A”, attached hereto and incorporated herein by reference.

2. COMPENSATION.

As sole compensation for the performance of the services, the City hereby agrees to pay Consultant monthly for services rendered to the City pursuant to this Agreement on a time and materials basis according to the rates of compensation as set forth in Exhibit “B” attached hereto.

Consultant will receive no royalty or other remuneration for the production or distribution of any products developed by the City or by Consultant in connection with, or based upon, the services.

3. BILLING.

Consultant’s fees shall be charged in arrears monthly and debited directly from the balance of the City’s assets under management by the Consultant. Consultant shall submit to the City a statement monthly, prepared in a form satisfactory to City, describing the beginning balance, contributions, earnings, expenses, distributions, transfers, and ending balance for the period covered by the statement. Statements shall be in full accord with any and all applicable provisions of this Agreement. In the event the City chooses to make payment directly to Consultant, Consultant shall submit to the City an itemized invoice, prepared in a form satisfactory to the City, describing its services and costs for the period covered by the invoice. Except as specifically authorized by the City in writing, Consultant shall not bill the City for duplicate services performed by more than one person. Consultant’s bills shall include the following information to which such services cost or pertain:
(A) a brief description of services performed;
(B) date(s) on which the services were performed;
(C) number of hours spent and by whom when applicable; and (D) signature of authorized representative of Consultant.

Any such invoices shall be in full accord with any and all applicable provisions of this Agreement.

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The City shall make payment on each such invoice within thirty (30) days of receipt; provided, however, that if Consultant submits an invoice which is incorrect, incomplete, or not in accord with the provisions of this Agreement, the City shall not be obligated to process any payment to Consultant until thirty (30) days after a correct and complying invoice has been submitted by Consultant. The City shall process any undisputed portion of an invoice immediately.

4. OWNERSHIP OF DOCUMENTS.

Title to all final documents, including drawings, specifications, data, reports, summaries, correspondence, photographs, computer software (if purchased on the City’s behalf), video and audio tapes, software output, and any other materials with respect to work performed under this Agreement shall vest with the City at such time as the City has compensated Consultant, as provided herein, for the services rendered by Consultant in connection with which they were prepared. The City agrees to hold harmless and indemnify Consultant against all damages, claims, lawsuits, and losses of any kind including defense costs arising out of any use by the City of said documents, drawings, and/or specifications on any other project without written authorization of Consultant. The provisions of this Section 4 shall survive the termination of this Agreement for any reason.

5. TERM.

This Agreement shall commence on the Effective Date and shall terminate on December 31, 2028. This Agreement may be extended, at the City’s sole discretion, upon the same terms and conditions for two (2) additional one-(1-)year terms and may be terminated only pursuant to the terms of this Agreement. The City and Consultant shall memorialize the extension of this Agreement in writing.

6. INDEPENDENT CONTRACTOR.

Consultant is an independent contractor, and nothing contained in this Agreement is intended, or shall be construed in any manner to create or establish the relationship of agent or employee of the City. Consultant has no authority to bind the City by contract or otherwise.

Consultant will perform the professional services under the general direction of the City’s Chief Financial Officer or his/her Designee, subject to the requirement that Consultant shall, at all times, comply with applicable law. Consultant shall pay all taxes, assessments, and premiums under the federal Social Security Act, any applicable unemployment insurance contributions, Workers Compensation insurance premiums (if required), sales taxes, use taxes, personal property taxes, or other taxes or assessments now, or hereafter, in effect and payable by reason of, or in connection with, the services performed by Consultant. Consultant shall be required to possess a valid and current City of Tulare Business Tax Certificate.

7. WARRANTY.

By executing this Agreement, Consultant agrees the services it will perform under this Agreement will be of a professional quality conforming to generally accepted industry standards and practices and that Consultant shall maintain all required licenses and certifications necessary for performance of the services hereunder. Consultant further agrees and represents to the City that Consultant possesses, or shall arrange to secure from others, all of the necessary professional Consulting Services Agreement Page 3 of 12
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capabilities, experience, resources, and facilities necessary to provide the City the services contemplated under this Agreement and that the City relies upon the professional skills of Consultant to do and perform Consultant’s work. Consultant further agrees and represents that Consultant shall follow the current, generally accepted industry practices to make findings, render opinions, prepare factual presentations, and provide professional advice and recommendations regarding the services rendered under this Agreement.

In the course of rendering services for the City, Consultant and its employees and agents may receive, review, or otherwise have access to proprietary financial, technical, and other information of the City that is not available to the public and not intended to be disclosed to the public (“Confidential Information”). In such event, Consultant and its employees and agents shall hold Confidential Information of the City in strict confidence and shall use all Confidential Information only as necessary in connection with the performance of the services and with prior written consent of the City. The obligations of Consultant pursuant to this Section 7 shall survive any termination or expiration of this Agreement. For purposes of this Section 7, “Confidential Information” does not include information that (i) is, at the time of disclosure, or thereafter becomes, by action of the City, a part of the public domain via a source other than Consultant, or (ii) is discovered by Consultant from a public source that is not under a confidentiality obligation owing to the City.

8. INDEMNIFICATION AND HOLD HARMLESS.

The Consultant and City agree to defend, indemnify and hold each other and their respective officers, officials, agents, employees, and volunteers harmless against and from any and all liability, loss, damages to property, injuries to, or death of any person or persons, and all claims, demands, suits, actions, proceedings, reasonable attorneys’ fees, and defense costs, of any kind or nature, of or by anyone whomsoever (collectively “Claims”), resulting from or arising out of the Consultant’s or the City’s performance or other obligations under this Agreement. The Consultant and City shall indemnify each other only in proportion and to the extent such Claims are caused by, or result from, the negligent or intentional acts or omissions of the indemnifying party, their respective officers, officials, agents, employees, and volunteers. The City and the Consultant will cooperate reasonably in the defense of any action, and the indemnifying party shall employ competent counsel, reasonably acceptable to the indemnified party.

The indemnity, defense, and hold harmless obligations contained herein shall survive the termination of this Agreement for any alleged or actual omission, act, error or negligence under this Agreement that occurred during the term of this Agreement.

9. INSURANCE.

Consultant shall provide proof of, and maintain during the term of this Agreement, insurance coverage as follows:
(A) Workers’ Compensation Insurance with statutory limits and employer’s liability insurance with limits of not less than One Million Dollars ($1,000,000) per accident for bodily injury or disease.
(B) Cybersecurity, Privacy, and Network Security Insurance in an amount not less than One Million Dollars ($1,000,000) per occurrence or claim.

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(C) Errors and Omissions coverage, including limited contractual liability, in an amount not less than Two Million Dollars ($2,000,000), and Consultant shall maintain such coverage for at least four (4) years from the termination of this Agreement provided that such coverage is commercially available and at reasonable rate; and during this four-(4-)year period, Consultant shall use Consultant’s best efforts to ensure there is no change of the retroactive date on this insurance coverage.
(D) Commercial General Liability Insurance in an amount of not less than One Million Dollars ($1,000,000) per occurrence, combined single limit, written on an occurrence form.
(E) If any travel by auto is to be done on behalf of the City by Consultant, a comprehensive Auto Liability coverage, including (as applicable) owned, nonowned, and hired autos in an amount of not less than One Million Dollars ($1,000,000) per occurrence, combined single limit, written on an occurrence form. (F) The City of Tulare Risk Manager is hereby authorized to adjust the requirements set forth above in the event s/he determines such adjustment is in the City’s best interest.

The City, and its officers, officials, agents, volunteers, and employees shall be named as additional insured to Commercial General Liability and Auto Liability insurance coverages maintained by Consultant with respect to liability arising out of work or operations performed by Consultant on behalf of the City.

Consultant’s required General Liability and Automobile Liability insurance coverages shall be primary insurance as respects the City and its officers, officials, agents, volunteers, and employees. Any insurance or self-insurance maintained by the City and/or its officers, officials, agents, volunteers, and employees shall be in excess of Consultant’s insurance and shall be noncontributory. Any failure to comply with the reporting provisions of the policies shall not affect coverage provided to the City, its officers, officials, agents, volunteers, and employees.

Consultant shall furnish with the City with original certificates and amendatory endorsements or copies of the applicable policy language affecting the required coverage.

Such insurance policies shall specifically provide that the City shall receive at least thirty (30) days’ prior written notice of any cancellation of such policy(ies) except for non-payment of premium whereby a ten (10)-day notice shall apply.

The City reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time.

10. ACCESS TO RECORDS.

Consultant shall maintain all preparatory books, records, documents, accounting ledgers, and similar materials, including, but not limited to, calculations and notes relating to work performed for the City under this Agreement, on file for at least three (3) years following the date of final payment to Consultant by the City. Any duly authorized representative(s) of the City shall have access to such records for the purpose of inspection, audit, and copying at reasonable times during Consultant’s usual and customary business hours. Consultant shall provide proper facilities to the City’s representative(s) for such access and inspection.

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11. TERMINATION.

Either party may terminate this Agreement upon thirty-(30-) days’ notice to the other party for any reason or no reason. In the event the City or Consultant terminates this Agreement, Consultant shall continue to provide the services until all trust assets are either transferred to another Section 115 irrevocable trust or disbursed for qualified OPEB or pension-related obligations, as applicable, and in accordance with the Trust Agreement. Such transfer will not be unreasonably delayed, with the Contract termination effective as soon as administratively feasible thereafter. For the avoidance of doubt, Consultant shall be entitled to full compensation for all services provided prior to such transfer or disbursement.

12. COMPLIANCE WITH LAWS, RULES, AND REGULATIONS.

Services performed by Consultant pursuant to this Agreement shall be performed in accordance and full compliance with all applicable federal, state, and City laws and any rules or regulations promulgated thereunder.

13. NONDISCRIMINATION.

Consultant shall comply with all applicable federal, state, and City laws and any rules or regulations promulgated thereunder in regard to nondiscrimination in employment because of race, color, ancestry, national origin, religion, sex, marital status, age, medical condition, handicap or other prohibited basis. All nondiscrimination rules or regulations required by law to be included in this Agreement are incorporated by this reference.

14. NOTICE.

All notices, including notices of address changes, required to be sent hereunder shall be in writing and shall be deemed to have been given when mailed to the addresses listed below:
(a) City of Tulare:

Chief Financial Officer
City of Tulare
Department of Finance
City Hall, 411 E. Kern Ave.

Tulare CA 93274
With a copy to [email protected].
(b) Consultant:

Daniel Johnson, President
PARS
4350 Von Karman Ave., Ste 100
Newport Beach, CA 92660
With a copy to [email protected].

15. EXHIBITS INCORPORATED.

All exhibits referred to in this Agreement and attached to it are hereby incorporated in it by this reference. In the event there is a conflict between any of the terms of this Agreement and any of the terms of any exhibit to the Agreement, the terms of the Agreement shall control the respective duties and liabilities of the City and Consultant.

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16. JURISDICTION AND VENUE.

This Agreement shall be governed by and construed in accordance with the laws of the State of California, County of Tulare, and City of Tulare, excluding that body of law pertaining to conflict of laws. In the event of any dispute over this Agreement’s terms and conditions, the exclusive venue and jurisdiction for any litigation arising here under shall be in the Superior Court of Tulare County, California, and, if necessary for exclusive federal questions, the United States District Court for the Eastern District of California.

17. SEVERABILITY.

In the event any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions of this Agreement will remain in full force and effect.

18. ASSIGNMENT.

Consultant may not assign Consultant’s rights or delegate Consultant’s duties under this Agreement without the prior written consent of the City. Any attempted assignment or delegation without such consent shall be void.

19. WAIVER.

The waiver by either party of any default or breach of this Agreement shall not constitute a waiver of any other or subsequent default or breach.

20. EQUITABLE REMEDIES.

Because the services to be performed by Consultant are personal and unique and because Consultant may have access to the City’s Confidential Information, the City will have the right to enforce this Agreement and any of its provisions by injunction, specific performance, or other equitable relief without prejudice to any other rights and remedies the City may have for a breach of this Agreement.

21. THIRD PARTY BENEFICIARIES.

Nothing in this Agreement, express or implied, is intended to, nor shall, be construed to confer upon any person, firm, corporation, or other entity, other than the parties to this Agreement and their permitted successors and assignees, any remedy or claim under or by reason of this Agreement as third-party beneficiaries or otherwise. The terms and conditions of this Agreement are for the sole and exclusive benefit of the parties to this Agreement.

22. ENTIRE AGREEMENT.

This Agreement constitutes the complete agreement between the parties and supersedes all previous agreements or representations, whether written or oral, with respect to the subject matter described herein. This Agreement may not be modified or amended except in writing signed by a duly authorized representative of each party. It is expressly agreed that any terms and conditions of Consultant’s invoices shall be superseded by the terms and conditions of this Agreement.

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23. NO WAIVER OF RIGHTS.

Waiver of a breach or default under this Agreement shall not constitute a continuing waiver or a waiver of a subsequent breach of the same or any other provision of this Agreement. The failure to provide notice of any breach of this Agreement or failure to comply with any of the terms of this Agreement shall not constitute a waiver thereof. Failure on the part of either party to enforce any provision of this Agreement shall not be construed as a waiver of the right to compel enforcement of such provision or any other provision. A waiver by the City of any one or more of the conditions of performance under this Agreement shall not be construed as waiver(s) of any other condition of performance under this Agreement.

24. INFORMATION FURNISHED TO CONSULTANT.

Consultant will provide the services contingent upon the City providing Consultant the information specified in the exhibit attached hereto as “Exhibit C” (“Data Requirements”), attached hereto and incorporated herein by reference. It shall be the responsibility of the City to certify the accuracy, content, and completeness of the Data so that Consultant may rely on such information without further audit. It shall further be the responsibility of the City to deliver the Data to Consultant in such a manner that allows for a reasonable amount of time for the services to be performed. Unless specified in Exhibit A, Consultant shall be under no duty to question Data received from the City, to compute contributions made to the Plan, to determine or inquire whether contributions are adequate to meet and discharge liabilities under the Plan, or to determine or inquire whether contributions made to the Plan are in compliance with the Plan or applicable law.

In addition, Consultant shall not be liable for nonperformance of services to the extent such nonperformance is caused by or results from erroneous and/or late delivery of Data from the City.

In the event that the City fails to provide Data in a complete, accurate and timely manner and pursuant to the specifications in Exhibit C, Consultant reserves the right, notwithstanding the further provisions of this Agreement, to terminate this Agreement upon no less than ninety (90) days’ written notice to the City.

25. FORCE MAJEURE.

When a party’s nonperformance hereunder was beyond the control and not due to the fault of the party not performing, a party shall be excused from performing its obligations under this Agreement during the time and to the extent that its performance is prevented by such cause. Such cause shall include, but not be limited to: any incidence of fire, flood, acts of God or unanticipated communicable disease, acts of terrorism or war commandeering of material, products, plants or facilities by the federal, state or local government, a material act or omission by the other party or any law, ordinance, rule, guidance or recommendation by the federal, state or local government, or any agency thereof, which becomes effective after the date of this Agreement that delays or renders impractical either party’s performance under the Agreement.

26. COUNTERPARTS. ELECTRONIC SIGNATURES.

This Agreement may be executed in any number of counterparts, and in that event, each counterpart shall be deemed a complete original and be enforceable without reference to any other counterpart. The words “execution,” “signed,” “signature,” and words of like import in this Agreement or in any other certificate, agreement or document related to this Agreement, shall include digital electronic signatures (e.g., DocuSign). The use of digital electronic signatures and Consulting Services Agreement Page 8 of 12
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electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based recordkeeping system to the fullest extent permitted by applicable law.

IN WITNESS WHEREOF, the parties hereto have executed the CONSULTING SERVICES AGREEMENT as of the date set forth in the first paragraph hereof.

CITY OF TULARE CONSULTANT

MARC MONDELL, TOD HAMMERAS,

CITY MANAGER CHIEF FINANCIAL OFFICER

PHASE II SYSTEMS, A CALIFORNIA
CORPORATION D.B.A. PUBLIC AGENCY

RETIREMENT SERVICES AND PARS
Approved as to Form:

MARIO U. ZAMORA,

CITY ATTORNEY

EXHIBIT A – SCOPE OF SERVICES
Trust administration services for the City of Tulare’s Public Agencies Post-Employment Benefits Trust (“Plan”) will include:

1. Plan Installation Services:

A. Meeting with appropriate City personnel to discuss Plan provisions, implementation timelines, the actuarial valuation process, funding strategies, benefit communication strategies, data reporting, and submission requirementsfor contributions, reimbursements, and distributions;
B. Providing necessary analysis and advisory services to finalize the elements of Paragraph 1(A) of this Exhibit A;
C. Providing all documents needed to create the Plan for review and approval by the City Attorney. Resulting final Plan documents must be approved by the City before the commencement of Plan Administration Services outlined in Paragraph 2 below.

2. Plan Administration Services:

A. Monitoring the receipt of Plan contributions made by the City to the trustee of the Trust (“Trustee”), based upon information received from the City and the Trustee; B. Performing periodic accounting of Plan assets, reimbursements/distributions, and investment activity, based upon information received from the City and/or Trustee; C. Coordinating the processing of distribution payments pursuant to authorized direction by the City, and the provisions of the Plan, and, to the extent possible, based upon Cityprovided Data; D. Coordinating actions with the Trustee as directed by the Plan Administrator within the scope the Agreement;
E. Preparing and submitting a monthly report of Plan activity to the City, unless directed by the City otherwise;
F. Conducting an annual in-person client review to provide a full administrative and investment review of the Plan and to ensure the City’s ongoing satisfaction with its participation in the Plan.

G. Conducting in-person or over-the-phone meetings more frequently, if requested by the City.

H. Providing updates of the Plan to the City Council during one of its public meetings, if requested by the City.

I. Preparing and submitting an annual report of Plan activity to the City;

J. Facilitating actuarial valuation updates and funding modifications for compliance with applicable GASB pronouncements and/or statements, if prefunding OPEB obligations; K. Coordinating periodic audits of the Plan;
L. Monitoring Plan and Trust compliance with federal and state laws.

The City acknowledges that PARS is not licensed to provide, and does not offer tax, accounting, legal, investment, or actuarial advice.

EXHIBIT B – FEES
Consultant will be compensated for performance of services as described in Exhibit A based upon the following schedule:

Trust Administration/Consulting Fee (PARS)
Trust administration fees provide for all administration services, including compliance, consulting, recordkeeping, funding analysis, and reporting.

For Plan Asset Balances Ongoing Fee
Under $10,000,000 0.25%
$10,000,000 - $15,000,000 0.20%
$15,000,001 - $50,000,000 0.15%
Over $50,000,000 0.10%
Annual rates are prorated and paid monthly. The Trust Administration/ Consulting Fee shall be calculated by the following formula:

Annual rate divided by 12 (months of the year) multiplied by the Plan asset balance at the end of the month.

Both the Trust Administration/Consulting Fee and the Trustee & Investment Advisory/Management Fee shall be deducted from Plan assets.

EXHIBIT C – DATA REQUIREMENTS
Consultant will provide all services required under this Agreement upon receiving the information included in this Exhibit C. Consultant is solely responsible for ensuring that all information and documentation provided to Consultant is true, correct, and authorized.

1. Executed legal documents:

A. certified resolution;
B. adoption agreement to the Plan;
C. trustee investment forms.

2. Contribution – completed Contribution Transmittal Form signed by the Plan Administrator (or authorized designee) which contains the following information:

A. agency name;
B. contribution amount;
C. contribution date;
D. contribution method (i.e., check, ACH, or wire).

3. Distribution – completed Transfer/Payment/Reimbursement Form signed by the Plan Administrator (or authorized designee) which contains the following information:

A. agency name;
B. payment reimbursement/distribution amount;
C. applicable statement date;
D. copy of applicable premium, claim, statement, warrant, and/or administrative expense evidencing payment;
E. signed certification of reimbursement/distribution from the Plan Administrator (or authorized designee).

4. Other information pertinent to the Consultant’s services as reasonably requested by the Consultant and the City's actuarial provider.

Staff Report
Meeting: City Council
Date: February 17, 2026
Department: Community Services
Submitted by: Chris Orr, Community Services Director
Agenda Title: Park Special Event Permit Process and Facility Use Fee Schedule

RECOMMENDED ACTION
Review and adopt the City of Tulare Park Special Event Permit Process and Application; review the proposed Facility Use Fee Schedule; and provide direction to staff regarding reserving the first Saturday of May for a Cinco De Mayo community event at Zumwalt Park.

SUMMARY
On January 20, 2026, the City Council considered Councilmember Sigala’s request to set aside the first Saturday of May annually to celebrate a Cinco De Mayo community event and to also work with the Hispanic Alliance for Culture, Education & Recognition (HACER) to coordinate the event.

During the meeting, City Manager Marc Mondell advised that the City has received many requests for use of the park and that staff were working on a Special Event Permit Process (Policy) applicable to all parks, including Zumwalt Park. Mr. Mondell requested Council to provide any requested revisions and that the Policy be presented to the Parks and Recreation Commission on February 10 for its consideration. It was also suggested that Council wait to render its decision on Councilmember Sigala’s request until after Commission consideration.

On January 20, 2026, staff met with the HACER representatives to discuss the Cinco De Mayo event they requested to be held at Zumwalt Park on May 2, 2026. An agreement was reached based on the then existing park rental procedures. During this process, it was also determined that the rental fees for Zumwalt Park did not reflect the renovation and new amenities added to the park; therefore, a recommended revision of the “Facility Use Fee Schedule” was developed for Zumwalt Park.

On February 10, 2026, the Parks and Recreation Commission unanimously approved the “Park Special Event Permit Process and Application” and the revised “Facility Use Fee Schedule”. In terms of dedicating the use of a park to any one individual or group on an annual basis, as requested by Councilmember Sigala, the Commissioners believe the Policy provides sufficient advance time (one year) to reserve the facilities and secure the date; therefore, they recommend against the request. The Commissioners do, however, recommend that the following language be added to the Policy:

City of Tulare residents may submit applications no sooner than one (1) year in advance of their proposed event and nonresidents may submit applications no sooner than nine (9) months in advance.

FISCAL IMPACT & FUNDING SOURCES
There is no fiscal impact associated with this action

ENVIRONMENTAL REVIEW
This action does not constitute a “project” pursuant to the California Environmental Quality Act (CEQA).

POTENTIAL CONFLICT OF INTEREST
Staff are not aware of any conflicts of interest
Item #: 7.4
General Business

LEGAL REVIEW
This item does not require legal review.

PUBLIC NOTICE
This item does not require a public hearing and was noticed as a part of the agenda.

ALTERNATIVE ACTION

1. Approve with changes

2. Deny

3. Table

ATTACHMENTS

1. Park Special Event Permit Process

2. Park Special Event Permit Application

3. Proposed Revised Facility Use Fee Schedule

4. Councilmember Sigala Request Form
Reviewed/Approved:

City of Tulare Park Special Event Permit Process
Special Events in City of Tulare Parks.

Any organized event including, but not limited to, large-scale events such as concerts, markets, community events, and any organized assembly of fifty (50) or more people in a City of Tulare Park is considered a Special Event.

A Special Event can be private or open to the public. Planning an event typically requires a significant amount of lead-time.

Process to Obtain a Park Special Event Permit
Due to the amount of preparation required for a Special Event Permit, applications must be received sixty (60) days prior to the scheduled event. For larger events, event applications must be submitted (90) days prior to the scheduled event. Please note that applications will not be accepted prior to (1) one year to your event date.

If the date and park are available, and the event meets all City requirements, then the Park Special Event Permit is accepted. The date will NOT be reserved until the application is deemed complete by the Community Services Director, or designee.

Once the Park Special Event Application has been approved, staff will request payment of a deposit. If the deposit is not paid within three (3) business days, the date will be released and the application deemed denied.

Fees
All rental fees are per the applicable Facility Use Fee Schedule. There are two levels of rental fees:

Private
• Ticketed entry, extensive venue set up with controlled access and exclusive use, no set up provided by City.

Example: Food or beer festival, corporate picnic.
• AM and PM service and restocking of permanent restrooms and service of fixed trash cans within the park.
• City staff must be on-site for load-in and load-out. One hour of load-in and one hour of load-out time is included in fee. Additional hourly labor costs for time beyond this will be charged, as well as overtime costs for load-in and load-out outside the hours of 8:00 AM – 5:00 PM
• Group is responsible for litter removal within the park and may be charged staff time for excess garbage removal. Rental of a dumpster or roll-off bin may be required.
• May incur staffing costs for additional services.

Non-Profit
• Free, park/event is open to the public, fundraising events, no set up provided by City.

Example: Dance recital, non-profit walk/run, festival with free admission • AM and PM service and restocking of permanent restrooms and service of fixed trash cans within the park.
• City staff must be on-site for load-in and load-out. One hour of load-in and one hour of load-out time is included in fee. Additional hourly labor costs for time beyond this will be charged, as well as overtime costs for load-in and load-out outside the hours of 8:00 AM – 5:00 PM
• Group is responsible for litter removal within the park and may be charged staff time for excess garbage removal. Rental of a dumpster or roll-off bin may be required.
• May incur staffing costs for additional services.

The City may elect to co-sponsor an event or waive, reduce, or subsidize special event fee(s) for events that serve a City defined public benefit or for organizations that are a sponsor of the City’s concert series as determined by the Director.

Vehicle Regulations
Per park ordinance no unauthorized motorized vehicles parked or driving in the park (T.M.C

8.36.230).

Alcohol Sales
Per City of Tulare Municipal Code (Section 8.36.310) sale and/or possession and/or consumption of alcoholic beverages shall not be allowed upon the premises of any Tulare City Park, including adjoining parking lots, except that the sale of beer and wine may be sold and consumed on premises of Zumwalt Park in the City of Tulare with the appropriate City and ABC permitting.

Fire Department Permits and/or Building Permits May Apply Events with more than 1,000 people, use of pyrotechnics or fireworks, temporary structures, any tent, or contiguous group of tents, over 400 square feet, may require an operational permit from the Fire department.

Zumwalt Park and Adventist Health Amphitheater
Due to contractual obligations with the Concert Operator, Zumwalt Park and/or Adventist Health Amphitheatre have limited availability during the City’s Summer concert series (May through September).

Exclusive use of the park for private or paid-admission events is restricted to the hours of 4:00 PM to 10:00 PM.

Significant sponsors of the City concert series may, at the City Manager's discretion, receive exclusive use of the park for one private event per year (8:00 AM – 10:00 PM), provided there are no scheduling conflicts with other public or private events.

Any Park Special Event Applications requesting use of Zumwalt Park and/or Adventist Health Amphitheatre during the City’s Concert Season or that includes live performance, or an exclusive corporate event will first be submitted to the Concert Operator by the Community Services Department for the option to manage the event request. Should the Operator opt to manage the event request, the Operator will then coordinate with the Community Services Department. If the Operator opts to not manage the event request, the request will then be reviewed by the Community Services Director and approved or denied.

If the event request is approved and does not require the use of the existing sound production equipment, then the permit process will be started. If the event requests use of the existing sound production equipment, then the applicant will enter into a separate agreement with the Operator’s Production Company or pay the cost to have the Production Company remove and reinstall the production equipment.

Certain areas and equipment in the backstage area of the amphitheater are restricted unless in partnership with the Operator and/or the Production Company. A backstage manager may be required. If the backstage area is utilized, the event shall have to cover the cost of a City approved janitorial/custodial contractor to clean the backstage area.

The City of Tulare logo, Adventist Health logo, or Operator logos shall NOT be used in any way without prior written approval.

Denial or Revocation of a Park Special Event Permit
The Community Services Director may deny any application for a permit or revoke any permit if he/she finds any of the following:
• To protect the safety of people and property and to control vehicle and pedestrian traffic in and around the venue.
• The event is proposed for a time and place for which another event permit has been or will be issued to a prior applicant.
• The application contains incomplete, false or misleading information. • The applicant fails to comply with all conditions including failure to remit all fees and deposits or fails to provide proof of insurance and/or an indemnification agreement as required.
• The applicant or the person or entity on whose behalf the application for permit was made has on prior occasions damaged City property and has not paid in full for such damage or has other outstanding and unpaid debts to the City. • The applicant or the person or entity on whose behalf the application for permit was made has on prior occasions damaged City property and has not paid in full for such damage or has other outstanding and unpaid debts to the City. • The proposed event would present an unreasonable danger to the health or safety of the applicant, spectators, City employees, or members of the public. • The applicant has not complied with or cannot comply with applicable licensure requirements, ordinances or regulations of the City concerning the sale, offering for sale, or distribution of any goods or services.
• The event sponsor or agent, employee or associate of any such event organizer has willfully made any false or misleading statement in an application or has not fully complied with the necessary requirements or has violated any other applicable law, rule or regulation.

The Community Services Director. may condition any permit issued with reasonable requirements concerning the time, place or manner of holding such event as is necessary to coordinate multiple uses of public property, assure preservation of public property and public places, prevent dangerous, unlawful or impermissible uses, An event organizer whose permit application is denied, or whose permit is revoked shall be notified of the action of denial or revocation, which notification shall contain a statement setting forth the reasons for said denial or revocation.

Any person aggrieved by the issuance, denial or revocation of a permit may appeal such decision to the City Manager by filing a written notice of such appeal with the City Clerk within ten (10) business days of the decision of the Community Services Director, giving rise to said appeal.

Such appeal shall set forth, with particularity, the facts upon which the appeal is being made.

The City Manager shall, within thirty (30) days of receiving such notice of appeal, hold a hearing.

At such hearing, the aggrieved party is entitled to be heard and present evidence on his/her behalf. The City Manager shall determine the merits of the appeal, and the City Manager’s determination to grant or deny the appeal shall be final.

Expressive Activities
“Expressive Activities” means conduct, the sole or principal object of which is the expression, discrimination, or communication by verbal, visual, literary, or auditory means of opinions, views, or ideas, protected under the First Amendment to the United States Constitution and Article 1 of the California Expressive Activity may include, but is not limited to, parades, public oratory, and the distribution of literature.

CITY OF TULARE PARK SPECIAL EVENT APPLICATION
City of Tulare Community Services 830 S. Blackstone St., Tulare (559) 684-4310

GENERAL EVENT INFORMATION
Event Name:

Proposed Date(s) of Event: Estimated Attendance:

Start Time(s): End Time(s):

Park(s) Requested:

Is this a fundraising event? Yes ☐ No☐
Will any form of revenue or entrance fees be collected? Yes ☐ No ☐ For what purpose will proceeds be used?
Will food be served? Yes ☐ No ☐ Food Booth ☐ Food Truck ☐ Will Alcohol be Served? Yes ☐ No ☐
Will there be amplified music? Yes ☐ No ☐ Sound System ☐ DJ ☐ Live Music ☐ Will there be any tents larger than 10 ft. x 10 ft? Yes ☐ No ☐ Size:

Will portable restrooms be needed? (1 unit per 100 persons) Yes ☐ No ☐ Quantity:

Will electricity be needed? Yes ☐ No ☐ Generator(s)? Yes ☐ No ☐ Will a street closure be needed? Yes ☐ No ☐
Number and Type(s) of Vendors:

Brief Description of Event:

APPLICANT/SPONSORING ORGANIZATION
Applicant Type:

Individual ( ) Organization ( ) Public Agency ( ) Non-profit ( ) Business ( ) Name:

Applicant/Contact Person: Cell Phone:

Address: E-mail:

Alternate Contact Person: Cell Phone:

Any additional special requests?
Set up map included with application? (Required) Yes ☐ No ☐

ADDITIONAL INFORMATION
Insurance: The undersigned shall maintain general liability insurance in an amount not less than one million dollars ($1,000,000) per occurrence for bodily injury, personal injury, and property damage. Undersigned’s general liability policies shall be endorsed to provide that City and its officers, officials, employees, and agents shall be additional insureds under such policies. When alcohol is being served or sold at any permitted facility, it is mandatory that the General Liability Policy include Liquor Liability Coverage.

Organizations with employees shall maintain Workers’ Compensation Insurance (Statutory Limits) and Employer’s Liability Insurance with limits of at least one million dollars ($1,000,000). Undersigned shall submit to City, along with the certificate of insurance, a Waiver of Subrogation endorsement in favor of City, its officers, agents, employees, and volunteers.

Bounce Houses: Bounce houses are allowed at all City of Tulare Parks EXCEPT Del Lago and Live Oak.

Renter must select a bounce house company from our approved list. Water slides and dunk tanks are not allowed at any park.

Street Closure Permit: Any street closure requires a Street Closure Permit. Street Closure Permits can be obtained Tulare City Hall, 411 East Kern Avenue Tulare, CA 93274, and/or through Caltrans via their website; Encroachment Permits | Caltrans
Sound Amplification: The use of sound amplification equipment is permitted; however, you must obtain an Amplified Sound Permit from the Administration Department at City Hall, 411 E. Kern Ave. A fee will apply to cover administrative processing fees. To avoid disturbing adjacent businesses and personal residences, noise generated must be kept at low levels. Sound or noise produced by sound amplification equipment used at all city parks and other city facilities shall be measured at points not greater than 100 feet from the sound source and shall not exceed 85 decibels. (Ordinance Code Section 6.40.071) Vendors: All vendors must have City of Tulare business license. The event coordinator will be responsible for verifying business licenses. Business licenses can be obtained at Tulare City Hall, 411 East Kern Avenue, Tulare, CA 93274. All Food Vendors are also required to have a current and valid health inspection by Tulare County Environmental Health Services.

Alcohol: Alcohol requests (Zumwalt Park only?) must first obtain approval from the City of Tulare Community Services Director. An Alcohol Beverage Control (ABC) Permit is required. Liquor Liability Insurance must be obtained naming the City of Tulare as additionally insured. A security service or third party must perform checking identification for age compliance.

Security: Security is required when alcohol is being consumed or amplified sound is happening. The number of guards is to be determined by the Director of Community Services and will be contracted at the expense of the applicant with one of the City approved Security Guard companies.

Additional Fees: Depending on the event, additional fees for City services may be required. These include but are not limited to Park Attendant Fees, Chalking of turf, Closing Fee, Stage Removal/Reinstall, Pre-Event Practice, Clean-Up Charge, Removal of Railing, Special Stand-by Charge or Special Solid Waste Fees.

Other: No vehicles on turf areas unless escorted by Parks staff. Events must conclude by 10:00 PM, per City Ordinance
Item #: 6.3
General Business

CITY OF TULARE, CA

PARKS & RECREATION COMMISSION TRANSMITTAL SHEET
Submitting Department: Community Services
For Commission Meeting of: February 10, 2026
Documents Attached:  Ordinance  Resolution  Staff Report  Other x None AGENDA ITEM:

Approve revisions to the 2025/26 Master Fees and Charges related to Zumwalt Park and Aquatics.

IS PUBLIC HEARING REQUIRED:  Yes  No
BACKGROUND/EXPLANATION:

After reviewing the Zumwalt Park rental fees, and in light of the revitalization of Zumwalt Park and the newly added amenities, staff is recommending an increase in rental fees.

For Aquatics, the increase in minimum wage has raised the City’s cost for lifeguard staffing. As a result, staff is requesting fee increases for group and private swim lessons and Splash Ball, as well as the addition of a new program that has been requested by residents.

ZUMWALT PARK FEES OLD FEE NEW
Private Rental $350 ½ day (up to 4 hours) NO ½ day rental $550 full day $1,000
Non-Profit $200 ½ day (up to 4 hours) NO ½ day rental
$400 full day $750

AQUATICS
Group Swim Lessons $55/$53 sibling discount $65/$63 sibling discount Private Swim Lessons $80 $85
Splash Ball $55/$53 sibling discount $85/$83 sibling discount *(Splash ball will go from 4 weeks to 6 weeks)
Dive Clinic (new program) $65/$63 sibling discount
4-week program teaches basic dives for beginners
Item #: 6.3
General Business

STAFF RECOMMENDATION
Staff’s recommendation is to increase fees for Zumwalt Park and the Aquatics program effective immediately.

IS ADDITIONAL (NON-BUDGETED) FUNDING REQUIRED:  Yes  No  N/A Submitted by: Brian Beck Title: Assistant Community Services Director Chris Orr Community Services Director
Date: 2/10/26

COUNCIL ITEM REQUEST FORM
The Council Item Request Form is for members of the City Council to submit written requests to the City Clerk’s Office for inclusion of an item on a future City Council meeting agenda. At the meeting where the initial written request is heard, discussion shall be limited to whether the item should be added to an agenda and a date, not the merit of the item. A majority vote of the City Council is required for the item to be added to a future Council meeting agenda for action. No more than 10 items may be submitted collectively for consideration by all councilmembers at any regular meeting of the Council, and in that regard, no individual councilmember may submit more than three items for consideration at any regular meeting of the Council. In the event more than 10 items are submitted collectively, no more than two items shall be accepted for consideration from any one councilmember.

NAME OF REQUESTING COUNCILMEMBER TODAY’S DATE AGENDA DATE

ITEM TITLE

BRIEF DESCRIPTION/BACKGROUND INFORMATION OF ITEM
Item #: 10.3
Future Agenda Item
JOSE SIGALA 1/13/2026 1/13/2026
Set Aside the First Saturday of Every Month to Celebrate Cinco De Mayo Community Event Mr. Mayor and Council,
I would like to ask for your support in placing on our February 3, 2026, meeting agenda the following item for discussion and possible action:
* That Council direct the City Manager and the Parks & Recreation Director to work with the Zumwalt Park operator to set aside the First Saturday of every May beginning in 2026 for the Annual Cinco De Mayo celebration to be celebrated at Zumwalt Park.

And to also work with the Hispanic Alliance for Culture, Education & Recognition (HACER) and any other local non-profits to assure city support in the form of park rental fees, paid from the Council District 1 community benefits fund, and any other support from the department to help co-sponsor the community event.

This yearly Cinco De Mayo event has been a long time celebration organized by HACER to recognize the contibutions of the Mexican community culture to the City of Tulare.

I strongly beleive this an event that benefits the community.

Thank you for your consideration.

JOSE SIGALA
City of Tulare Council Member, First District
Staff Report
Meeting: City Council
Date: February 17, 2026
Department: Community Services
Submitted by: Chris Orr, Community Services Director
Agenda Title: Request for Funding for July 4th Event

RECOMMENDED ACTION
Provide direction to staff regarding a 250th Anniversary Independence Day event at Zumwalt Park on July 4, 2026, featuring and subsidizing the Sequoia Symphony Orchestra at either $50,000 with a $10 per ticket admission price or $60,000 with free tickets.

SUMMARY
The Sequoia Symphony Orchestra (formerly the Tulare County Symphony) has a history of performing at Zumwalt Park. In 2014, they started their season at Zumwalt Park’s John Philip Sousa Pavilion for its annual "Pops in the Park" concert. This annual event was a tradition where the symphony kicks off its new season with an outdoor concert featuring popular classics, movie music, and Americana. They performed annually at Zumwalt from 2014 until 2019. Due to the pandemic, they did not perform at Zumwalt in 2020, and 2021. In 2022, the Sequoia Symphony Orchestra performed at the Visalia Fox Theatre instead of Zumwalt Park because of several artistic and logistical factors during that season Staff, in working with Spade Entertainment, has discussed the possibility of the Sequoia Symphony performing on July 4, 2026, at Zumwalt Park, as part of a 250th anniversary celebration of America’s independence. Production costs for the Sequoia Symphony to perform at Adventist Health Amphitheater have been negotiated at a cost of $50,000. Their normal production cost is approximately $60,000.

Production setup for a symphony orchestra involves a rigorous blend of logistical planning, specialized stage engineering, and technical coordination to ensure acoustic balance and practices. In addition to production costs, there are other site logistics cost such as security, insurance, etc. Spade Entertainment estimates that with a $50,000 subsidy the additional overhead costs can be made up through selling tickets at $10.00 each. Another option is to provide a $60,000 subsidy which will cover all overhead costs and offer free tickets.

FISCAL IMPACT & FUNDING SOURCES
Reduction in the General Fund unassigned fund balance account.

ENVIRONMENTAL REVIEW
This action does not constitute a “project” pursuant to the California Environmental Quality Act (CEQA)

POTENTIAL CONFLICT OF INTEREST
Staff is not aware of any conflicts of interest

LEGAL REVIEW
This item does not require legal review.

PUBLIC NOTICE
This item does not require a public hearing and was noticed as a part of the agenda.

Item #: 7.5
General Business

ALTERNATIVE ACTION

1. Approve with changes

2. Deny

3. Table

ATTACHMENTS
None
Reviewed/Approved: