Amendment No.1 to agreement with Public Trust Advisors, LLC

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01/28/2025 
 
 
 
 
 
 
 
 
 
  C20-0756-5      
AMENDMENT NO. 1 
RFP 20-35  
(Investment Advisory Services, Contract No. C20-0756) 
 
This Amendment No. 1 (“Amendment”) to the Investment Advisory Services Services Agreement 
(“Agreement”) is made this ______ day of ________, 2025, (“Effective Date”), by and between the 
City of Glendale, an Arizona municipal corporation (“City”) and Public Trust Advisors, LLC, a 
Colorado limited liability company, authorized to do business in Arizona (“Contractor”). 
 
RECITALS 
 
A. 
City and Public Trust Advisors, LLC (“Contractor”) previously entered into the Investment 
Advisory Services Services Agreement, Contract No. C20-0756, dated September 8, 2020 
(“Agreement”); and 
 
B. 
On August 10, 2021, City and Contractor entered into Contract Extension No. 1 extending 
the term of the Agreement from September 8, 2021 through September 7, 2022; and 
 
C. 
On June 20, 2022, City and Contractor entered into Contract Extension No. 2 extending the 
term of the Agreement from September 8, 2022 through September 7, 2023; and 
 
D. 
On July 27, 2023, City and Contractor entered into Contract Extension No. 3 extending the 
term of the Agreement from September 8, 2023 through September 7, 2024; and 
 
E.        On July 31, 2024, City and Contractor entered into Contract Extension No. 4 extending the 
term of the Agreement from September 8, 2024 through September 7, 2025; and 
 
F. 
City and Contractor wish to modify and amend the Agreement subject to and strictly in 
accordance with the terms of this Amendment. 
 
AGREEMENT 
 
In consideration of the mutual promises set forth herein and other good and valuable consideration, 
the receipt and sufficiency of which are hereby acknowledged, the City and Contractor hereby agree 
as follows: 
 
1. 
Recitals.  The recitals set forth above are not merely recitals but form an integral part of this 
Amendment. 
 
2. 
Term.  The term of the Agreement is extended for a six-month period from September 8, 
2025 through March 7, 2026, unless otherwise terminated or canceled as provided by the 
Agreement. All other provisions of the Agreement except as set forth in this Amendment shall 
remain in their entirety. 
 
3. 
Scope of Work. The Scope of Work remains unchanged.

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4.  
Compensation. Contractor's original compensation for the Services was $400,000 and will 
be increased another seventy two thousand ($72,000), making the total compensation amount 
$472,000. 
 
5. 
Insurance Certificate.  Current certificate will expire on January 1, 2026. A new insurance 
certificate must be provided prior to this date to the Finance Director and the Contract 
Administrator in order for this Agreement to remain in effect. 
 
6. 
Non-discrimination.   Contractor must not discriminate against any employee or applicant 
for employment on the basis of race, color, religion, sex, national origin, age, marital status, 
sexual orientation, gender identity or expression, genetic characteristics, familial status, U.S. 
military veteran status or any disability. Contractor will require any Sub-contractor to be bound 
to the same requirements as stated within this section. Contractor, and on behalf of any 
subcontractors, warrants compliance with this section.  
 
7.  
No Boycott of Israel.  To the extent A.R.S § 35-393 through § 35-393.03 are applicable, the 
parties hereby certify that they are not currently engaged in, and agree for the duration of the 
Agreement to not engage in, a boycott of goods or services from Israel, as that term is defined 
in A.R.S § 35-393. 
 
8. 
Uyghur Forced Labor Prevention Act (UFLPA). Contractor certifies that it does not 
currently, and during the term of this Agreement, will not use: 
 
(a) 
the forced labor of ethnic Uyghurs in the People’s Republic of China;  
 
(b) 
any goods or services produced by the forced labor of ethnic Uyghurs in the People’s 
Republic of China; and  
 
(c) 
any contractors, subcontractors or suppliers that use the forced labor or any goods or 
services produced by the forced labor of ethnic Uyghurs in the People’s Republic of 
China. 
 
9. 
Attestation of PCI Compliance.  When applicable, the Contractor will provide the City 
annually with a Payment Card Industry Data Security Standard (PCI DSS) attestation of 
compliance certificate signed by an officer of Contractor with oversight responsibility. 
 
10. 
Ratification of Agreement.  City and Contractor hereby agree that except as expressly 
provided herein, the provisions of the Agreement shall be, and remain in full force and effect 
and that if any provision of this Amendment conflicts with the Agreement, then the provisions 
of this Amendment shall prevail. 
 
[Signatures on the following page.]

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01/28/2025 
CITY OF GLENDALE, an Arizona 
 
 
 
 
 
 
municipal corporation 
 
 
 
 
 
 
 
 
___________________________________ 
 
 
 
 
 
 
Kevin R. Phelps, Interim City Manager 
 
ATTEST: 
 
 
____________________________________ 
Julie K. Bower, City Clerk                 (SEAL) 
 
 
APPROVED AS TO FORM: 
 
 
____________________________________ 
Michael D. Bailey, City Attorney                 
 
 
 
Public Trust Advisors, LLC, 
 
a Colorado limited liability company 
 
 
 
 
 
 
By: 
Steve Dixon 
Its: 
Director, Compliance and Business 
Operations