CEO Message

CSDA Announces Launch of New Member Benefit for District Investments:

California CLASS

We are always looking at ways to enhance the value of membership in CSDA and provide meaningful resources to all types of districts and I think this new program hits the mark! I’m pleased to announce the official launch of our newest value-added benefit, the creation of a local government investment pool (LGIP), California Cooperative Liquid Assets Securities System (California CLASS) specifically developed for special districts, cities, and other public agencies.

Neil McCormick CSDA Chief Executive Officer

CSDA’s relationship with Public Trust Advisors, LLC (Public Trust) was the impetus for the development of the investment program which is a California Joint Powers Authority governed by a Board of Trustees comprised of special district and city professionals. The purpose of the California CLASS is to provide California public agencies with an additional diversification option for their daily liquidity and strategic reserve investments. The fundamental purpose of California CLASS is to develop and sustain an investment program wholly committed to the tenets of safety, liquidity, and yield for the benefit of participating public agencies.

The California CLASS Joint Exercise of Powers Agreement (the JPA) was fully executed in June 2022 by the California CLASS Founding Participants. The initial Board of Trustees was subsequently established, including Chairperson Christina Turner (City of Morgan Hill), Vice Chairperson Ryan Clausnitzer (Alameda County Mosquito Abatement District and CSDA Board President), Treasurer George Harris (City of Lancaster), and Secretary Margaret Moggia (West Basin Municipal Water District).

Public Trust, in its capacity as investment advisor and fund administrator, is committed to providing California CLASS Participants with an exceptional user experience and professional portfolio management.

Additionally, the partnership with Public Trust provides a unique opportunity to work with an investment advisor that possesses a very successful track record in delivering cash management solutions for local governments nationally. We are extremely excited to offer this new program with Prime and Enhanced Cash funds to provide a cash management option that prioritizes the public agency investor experience.

California CLASS is endorsed by the League of California Cities (Cal Cities) and the California Special Districts Association (CSDA). U.S. Bank, N.A. serves as the custodian, and Orrick provides special legal counsel to the program.

Districts, cities, and other agencies are already signing on! For additional information regarding the services provided by California CLASS, please visit the website at www.californiaclass. com or contact California CLASS Client Services at (866) 987-4445 or via email at clientservices@californiaclass.com.

SAVE-THE-DATES!

2022 CSDA Conferences

Register at csda.net!

Special District Leadership Academy Conference (North)

September 18-21, 2022 Napa

Board Secretary / Clerk Conference

November 7-9, 2022 Monterey