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What are the investment objectives for Texas CLASS?
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- Legality
- To invest only in investments legally permitted under Texas State Law (Public Funds Investment Act).
- Safety
- To minimize risk by managing portfolio investments to preserve principal and maintain a stable Net Asset Value (NAV).
- To maintain the highest rating for Texas CLASS from a nationally recognized statistical rating organization as long as such rating is required by Texas State Law.
- Liquidity
- To manage portfolio investments in a way that ensures that cash will be available as required to finance Participants’ operations.
- Yield
- To maximize current income to the degree consistent with legality, safety, and liquidity.
- Legality
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Who oversees Texas CLASS?
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Texas CLASS is overseen by the Texas CLASS Board of Trustees, comprised of active members of the pool and elected by the Participants, guided by the Advisory Board. The Board is responsible for selecting the Administrator and Investment Advisor. The Board retains the services of Public Trust Advisors, LLC (Public Trust).
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Who is eligible to use Texas CLASS?
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Any municipality, county, school district, or authority created under Section 52(b)(1) or (2), Article III or Section 59, Article XVI, Texas Constitution, a fresh water supply district, a hospital district and any political subdivision, authority, public corporation, body politic, or instrumentality of the state of Texas, any office, department, commission, board, or other agency that is part of any branch of State government, an institution of higher education, and any nonprofit corporation acting on behalf of any of those entities that has taken the actions required by Section 2256.016 of the Act and that has executed either the Trust Agreement or a counterpart of the Trust Agreement or a participation certificate.
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How can you Participate in Texas CLASS?
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Enrolling in Texas CLASS is simple. Any of the entity types listed in the answer above may join Texas CLASS as a Participant and take advantage of the investment program.
To participate in Texas CLASS, please complete the following:
- Read the Trust Agreement
- Read the Information Statement
- Complete the Registration Packet
- At your next board meeting, pass a resolution authorizing participation in Texas CLASS
- Adopt the Trust Agreement by signing Exhibit D located in the Registration Packet
- Complete the Entity Registration, Authorized Contacts, and the accounts to be established
- Keep the original forms for your records, and send the completed packet to the Texas CLASS Client Service Team by fax (855) 848-9910 or by email to clientservices@texasclass.com.
- Within 30 days of opening your account, please acknowledge Form 1295 on the Texas Ethics Commission’s website.
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How can I submit an audit confirmation to Texas CLASS?
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Please email your audit confirmation to clientservices@texasclass.com and provide either a fax number or email for receipt. Texas CLASS is also accessible on www.confirmation.com and will receive notification of your audit confirmation on the platform.
Due to the ongoing COVID-19 pandemic, audit confirmations sent via USPS will have a significant delay, so we strongly encourage email confirmations.
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What type of securities does Texas CLASS invest in?
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Texas CLASS invests solely in securities that are permitted pursuant to the Public Funds Investment Act. A copy of the current Texas CLASS Investment Policy is available here.
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What is the minimum requirement for investing in Texas CLASS?
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There is no minimum investment amount for Texas CLASS.
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What are the business hours at Texas CLASS?
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The Texas CLASS offices are open Monday through Friday from 8:30 a.m. until 4:30 p.m. CT. Please consult the Client Services Page for Texas CLASS office closures.
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What transaction fees does Texas CLASS charge?
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Texas CLASS does not charge any transaction fees, but you may incur fees associated with wires and/or ACH transactions by your bank.