Item 32 - Adoption Authorizing the Investment of Monies into California Class Prime Fund

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CL$S www.caIiforniacIass.co Client -First & User -Friendly Cash Management Solutions Designed for California Public Agencies of All Sizes Learn more about building an optimal liquidity portfolio for your public agency; contact us today. Bob Shull Director, Investment Services bob.shull@californiaclass.com (213) 378-2070 Laura Glenn, CFA° Senior Director, Investment Services laura.glenn@californiaclass.com (404) 822-8287 Brent Turner Regional Director of Strategy brent.turner@californiaclass.com (303) 999-8190 Rodrigo Bettini Director, Investment Services rodrigo.bettini@californiaclass.com (813) 820-0703 Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. California CLASS is not a bank. An investment in California CLASS is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although California CLASS seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Please review the California CLASS Information Statement before investing. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses. California CLASS is rated 'AAAm' by S&P Global Ratings. A 'AAAm' rating by S&P Global Ratings is obtained after S&P evaluates a number of factors including credit quality, market price exposure, and management. For a full description on rating methodology, please visit www.spglobal.com. California CLASS Enhanced Cash is rated 'AAAf/S1' by FitchRatings. The'AAAf' rating is Fitch's opinion on the overall credit profile within a fixed -income fund/portfolio and indicates the highest underlying credit quality of the pool's investments. The'S1' volatility rating is Fitch's opinion on the relative sensitivity of a portfolio's total return and/or net asset value to assumed changes in credit spreads and interest rates. The'S1' volatility rating indicates that the fund possesses a low sensitivity to market risks. For a full description on rating methodology, please visit www.fitchratings.com. Ratings are subject to change and do not remove credit risk.