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Housing staff asks board to adopt Wyoming CLASS trust documents to enable pooled investing
Summary
Staff asked the Jackson/Teton County Housing Authority to review the Wyoming CLASS Indenture of Trust and to authorize participation in the Wyoming CLASS pooled-investment program; the packet notes the Authority already directed staff on Feb. 4 to open accounts with Wyoming CLASS and Meridian Trust.
Staff presented the Wyoming CLASS Indenture of Trust and a registration packet for the board’s review. The Indenture is the governing legal document for Wyoming CLASS, a local-government investment pool; it defines participant rights, trustee duties, permitted investments and redemption procedures. The staff packet listed registration steps and recommended motion language but the March 11 excerpt does not record a board vote.
The board packet and earlier minutes show the Authority has already moved toward participation: Feb. 4 minutes record a motion by Board Chair Annie Kent Droppert to approve investing in a Certificate of Deposit and Wyoming CLASS and to authorize Housing Manager Stacy Stoker to open Wyoming CLASS and Meridian Trust accounts; Board Member Sarah Koznek seconded and the motion passed unanimously. The Indenture excerpt in the packet (Articles I–XVI) highlights participant adoption steps and fiduciary limits that staff asked the board to accept before opening accounts under the program’s terms.
Why it matters: adopting the Indenture would let Housing Department staff place Authority funds in a pooled short-term investment program governed by Wyoming statute; the packet flags both liquidity/value-preservation features and the program’s statement that investments are not FDIC-insured. Next steps listed in staff materials include passing a formal resolution and completing the Wyoming CLASS registration forms with named authorized signers.
