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55A - RESO - PARS AGMT
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55A - RESO - PARS AGMT
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5/28/2020 5:18:44 PM
Creation date
5/28/2020 5:12:59 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
6/2/2020
Destruction Year
2025
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(c) Notifying the Investment Fiduciary of the amount of Assets in the Trust available for <br />further investment and management by the Investment Fiduciary; <br />(d) Allocating contributions, earnings and expenses to the Trust; <br />(e) Directing the Trustee to pay insurance premiums, to pay the fees of the Trust <br />Administrator and to do such other acts as shall be appropriate to carry out the intent <br />of the Trust. <br />(f) Such other services as the Agency and the Trust Administrator may agree. <br />3.6 Additional Trust Administrator Services. The Plan Administrator may at any time retain <br />the Trust Administrator as its agent to perform any act, keep any records or accounts and make any <br />computations which are required of the Agency or the Plan Administrator by this Trust Agreement <br />or by the Agency's Plan. The Trust Administrator shall be separately compensated for such service <br />and such services shall not be deemed to be contrary to the Trust Agreement. <br />3.7 Trust Administrator's Compensation. As may be agreed upon from time to time by the <br />Agency and Trust Administrator, the Trust Administrator will be paid reasonable compensation for <br />services rendered or reimbursed for expenses properly and actually incurred in the performance of <br />duties with respect to the Trust in accordance with Section 53217 of the California Government <br />Code. <br />3.8 Resignation or Removal of Trust Administrator. The Trust Administrator may resign at <br />any time by giving at least one hundred twenty (120) days written notice to the Plan Administrator <br />and the Trustee. <br />ARTICLE IV <br />TRUSTEE'S DUTIES <br />4.1 Powers Subject to Duties. The Trustee shall exercise any of the foregoing powers from <br />time to time as required by any applicable federal or state law. <br />4.2 Records. The Trustee shall maintain or cause to be maintained suitable records, data and <br />information relating to its functions hereunder. The Trustee shall keep accurate and detailed <br />accounts of all investments, receipts, disbursements and other actions hereunder. Its books and <br />records relating to the Trust shall be open to inspection and audit at all reasonable times by the <br />Agency, the Plan Administrator or their duly authorized representatives. <br />4.3 Accounts. Within ninety days after the close of each Plan Year and within ninety days <br />after the resignation or removal of the "Trustee as provided in Article VI hereof, the Trustee shall <br />render to the Agency a written account showing in reasonable summary the investments, receipts, <br />disbursements and other transactions engaged in by the Trustee during the preceding Plan Year or <br />accounting period with respect to the Trust. Such written accounts shall set forth the assets and <br />liabilities of the Trust. The Agency or Plan Administrator shall have ninety days after the Trustee's <br />mailing of each such written account within which to file with the Trustee written objections. Upon <br />the expiration of each such period, the Trustee shall be forever released and discharged from all <br />55A�29 <br />
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