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to diversify small cap investment by moving 3% of Atlanta Capital's current holdings to SSIM small cap index investment (S&P 600). The motion carried unanimously.

The following firms presented core plus products to the Board, with discussion ensuing. Bental GreenOak Sagard Real Estate Virtus Real Estate

Motion by Jason Palant, second by Raphael Borrero, to hire both Sagard and Virtus Real Estate, splitting the available investment. The motion carried unanimously.

Motion by Jason Palant, second by Paul Greenwell, to interview Principal, BentallGreenOak, Sagard, and Virtus for real estate core plus management. The motion carried unanimously.

Motion by Raphael Borrero, second by Paul Greenwell, to hire Boston Partners.

Additionally, Mr. McNeillie informed the Board of an amendment to the SSGA contract that results in lowered fees. Motion by Jason Palant, second by Jack McCluskey, to authorize the Chair's signature on the SSGA amendment. The motion carried unanimously.

Motion by Tom Moran, second by JP Kearney, to interview Brandywine, T. Rowe Price, and Boston Partners for midcap value management. The motion carried unanimously.

The Board has also issued an RFP for real estate.

Motion by Jason Palant, second by Paul Greenwell, to issue an RFP for auditing services. The motion carried unanimously.

The investment policy statement was last amended in November 2024.

From several proposed investment mixes, motion by JP Kearney, second by Tim Anderson, to approve "Mix

Chairman - Chairman Johnson requested the status of the custodial RFP. Mr. Klausner will provide the "short list" to Greg McNeillie at Dahab Associates. Mr. McNeillie confirmed that the RFP has been completed

Large Cap Value RFP: Greg McNeillie reviewed the results of the Board's recent RFP, discussing the candidates with desirable characteristics including but not limited to performance. Motion by JP Kearney. second by Tom Moran, to interview the firms Putnam, Aristotle, and Seizert at the March 2024 Board meeting. The motion carried unanimously.

Motion by Timothy Anderson, second by Thomas Moran, to enter into a 3-yr contract with Rachlin, LLC, splitting the fees 30/70. By roll call vote, the motion carried with Trustees Arenson and McCluskey dissenting.

RFP Discussion: The Board recently sent an RFP for fixed income managers. Mr. McNeillie provided a report of the firms who responded and pertinent analytics.

Motion by Vicki Minnaugh, second by Robert Johnson, directing Dahab Associates to conduct a large cap growth manager search. The motion carried unanimously.