Evanston council approves investing clean‑energy sale proceeds in pooled ‘Wyoming Class’ fund

The Evanston City Council voted to adopt Resolution 23‑33 on April 25, authorizing the city to participate in the Wyoming Cooperative Liquid Asset Security System — commonly called Wyoming Class — and to place proceeds from a recent clean‑energy sale into the pooled investment vehicle.

Miss Harris, a city staff member who explained the proposal to the council, said Wyoming Class offered higher short‑term yields than the state option the city has used. "Their current yield was 4.9%, where WyoStar was 4.05," Miss Harris said, citing the fund’s published rate during the discussion.

Council members and staff said the fund’s liquidity and diversification were reasons to consider the move. "I think it's a great opportunity for us to make some higher interest yields," a council member said during the discussion, noting that Wyoming Class is managed independently and is intended for government entities only. Council members also asked whether there would be penalties for withdrawing funds; staff said the account is liquid and that money could generally be available within a day.

According to the staff presentation, the city would direct money received from the sale of a clean‑energy asset into an account at Wyoming Class rather than leaving those proceeds in the city’s current accounts, with the aim of earning higher returns while retaining ready access to the funds. Staff said the investment committee — including members Kent and Jesse — reviewed the option and recommended participation.

The resolution was moved and seconded and adopted by voice vote; the chair declared the measure passed. The motion on the record references mover "Sellers" as making the motion; the transcript records only a voice vote and does not include a roll‑call tally.

No members of the public spoke on the resolution during the meeting. The council moved on to brief department updates and then adjourned.