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Morehouse board authorizes participation in NYCLASS municipal investment program
Summary
The board approved Resolution 25-4-2 authorizing the town to participate in the NYCLASS municipal cooperation investment program to manage portions of available funds for safety and liquidity.
The Morehouse Town Board voted April 8 to authorize participation in the NYCLASS (New York Cooperative Liquid Asset Securities System) municipal cooperation program under Resolution 25-4-2. The resolution cites New York General Municipal Law, Article 5-G, Section 119-o as authority for municipalities to enter cooperative investment agreements.
The motion was made by William Uebele and seconded by Sonya DeVuyst and carried by recorded ayes. The resolution authorizes the Town Supervisor to participate in NYCLASS under the terms of the NYCLASS Municipal Cooperation Agreement (amended and restated as of August 1, 2023), to satisfy the safety and liquidity objectives of the town's available funds.
Board members did not expand discussion beyond the motion during the meeting; the action was recorded in the meeting minutes and the signed resolution is on file with the town clerk.
