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Claremore adopts resolution to join Oklahoma CLASS pooled-investment program
Summary
The council adopted Resolution 2026-8 to enter the Oklahoma CLASS pooled-investment interlocal agreement; staff said the program offers higher yields and operates like a bank-account with same-day transfers, and council voted to approve the resolution by roll call.
Council considered and adopted Resolution 2026-8 to enter an interlocal agreement establishing participation in the Oklahoma Cooperative Liquid Assets Security System (Oklahoma CLASS), a pooled-investment program.
Staff explained that CLASS offers higher yields for public funds through pooled investment, that it complements existing holdings (CDs and other instruments), and that the city would not place all funds into CLASS but would use it as an additional option to improve returns. The presenter said communities joining CLASS have seen better returns compared with short-term CDs and that the program allows rapid transfers back to the city's bank if liquidity is needed.
Council discussed preserving existing investment diversity and the mechanics of moving funds on maturities. A motion to adopt Resolution 2026-8 was seconded and passed on a roll-call vote with members present voting to approve.
The city also moved to update its investment policy that evening to add CLASS as an authorized investment vehicle and to remove antiquated ordinance references (the policy update was approved by roll call).
