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Committee backs placing OklaClass investment policy amendment on council agenda
Summary
Finance staff briefed the committee on amending the investment policy to join a qualified pooled investment (OklaClass) and recommended placing required resolutions on the next council consent agenda; staff said participation costs nothing and could improve overnight returns.
City finance staff told the committee the state has authorized municipalities to use qualified pooled investments and that the city can amend its investment policy to permit participation in the statewide pooled fund known as OklaClass. David Floyd, bond counsel connected to the pooled fund, and staff described the…
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