Built for Wyoming Political Subdivisions
The Purpose of Wyoming CLASS
Wyoming Cooperative Liquid Assets Securities System (Wyoming CLASS) was created as a service for Wyoming political subdivisions. The purpose of the program is to provide a convenient method for political subdivisions to pool their liquid assets collectively. The general objective of the Trust is to generate a high level of current income for the Participants while maintaining liquidity and preserving capital by investing only in instruments authorized by Wyoming State Statutes and the Wyoming CLASS Investment Policy.
Who can Participate?
Wyoming CLASS allows for the state of Wyoming, any county, city, town, school district, community college district, hospital district, special district or other political subdivision of the State, or department, agency or instrumentality thereof, or any political or public corporation of the state of Wyoming to open an account and become a Participant.
The Wyoming CLASS Indenture of Trust was adopted pursuant to the provisions of W.S. 17-23-101 et seq., the Wyoming Statutory Trust Act. Wyoming CLASS Participants are authorized to invest in a commingled fund of legal investments as described under W.S. 9-4-831 Legal Investments.
The program is overseen by a Board of Trustees comprised of qualified representatives of participating Wyoming political subdivisions. The Board is responsible for assuring compliance with the Indenture and has the power to administer the affairs of the Trust. The program’s investment advisor is Public Trust Advisors, LLC, and the program’s custodian is U.S. Bank, N.A.
Wyoming CLASS has four general objectives:
- To invest only in investments legally permitted under Wyoming State Law
- To minimize risk by managing portfolio investments to preserve principal and maintain a stable Net Asset Value (NAV)
- To maintain the highest money market rating for the Wyoming CLASS portfolio from a nationally recognized statistical rating organization
- To manage portfolio investments in a way that ensures that cash will be available as required to finance Participants’ operations
- To maximize current income to the degree consistent with legality, safety, and liquidity