JTCHA board to approve WY CLASS trust document to invest housing funds

The Jackson/Teton County Housing Authority (JTCHA) board is scheduled to vote March 11 on approving the Wyoming CLASS (Wyoming Cooperative Liquid Assets Securities System) Indenture of Trust, the governing document for the state’s local-government investment pool. Staff said the board previously directed them to open a Wyoming CLASS account, and adoption of the indenture is required to participate and authorize staff to open and maintain accounts. (Housing Authority Meeting Agenda Packet)

Wyoming CLASS is structured as a trust that lets participating political subdivisions commingle money for short-term investing “to maximize net investment earnings,” with participation limited to entities that adopt the indenture and meet deposit requirements. The indenture sets up how the trust operates under the “Wyoming CLASS” name and outlines the role of a board overseeing the program. (Wyoming CLASS Indenture of Trust)

In prior discussion, staff framed Wyoming CLASS as a more liquid option than certificates of deposit: CLASS funds can be wired same day if requested before 1 p.m., while early CD withdrawal typically triggers an interest penalty. Staff had recommended moving $1.073 million from the Housing Authority’s “Supply” account—used for SPET deposits and debt service related to 90 Virginian Lane—into Wyoming CLASS while keeping operating cash at First Interstate Bank. (Regular Board Meeting for Jackson/Teton County Housing Authority)