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HWMA board adopts resolution to invest select reserves in California CLASS Prime Fund
Summary
The Humboldt Waste Management Authority board adopted Resolution 2026-06 to authorize investing non-operating reserve funds in the California CLASS Prime Fund to diversify holdings and earn higher yields than current money market accounts.
The Humboldt Waste Management Authority board voted to adopt Resolution 2026-06 authorizing investment of certain reserve funds in the California Cooperative Liquid Assets Security System (CLASS) Prime Fund.
Board members heard staff say the move is intended to diversify non-operational reserves and secure returns higher than the authority’s existing money market accounts.
Staff recounted the authority’s investment history: a 2009 resolution allowed investments in local agency funds; a November 2023 resolution (2024-03) broadened that authorization beyond LAIF. After…
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