BMIA Purpose of the Trust
- To furnish and supply to the inhabitants, owners, and occupants of the property, and to industrial, commercial, and mercantile establishments and enterprises within the corporate limits of the City of Blanchard and in the territory in reasonably convenient proximity thereto, and to the Cty and any other governmental agencies, utility services, garbage services, and physical facilities for all purposes authorized or proper as a function of the City of Blanchard;
- For the convenience and welfare of the City of Blanchard and the citizens thereof, to provide or to aid in providing to the federal government, the State of Oklahoma, County of McClain, the City of Blanchard, the Blanchard Public School District in which the latter is located, or to any agency or instrumentality of either or any of them, or to anyone or more of them, facilities and services of any and all kinds convenient or necessary to the functioning thereof;
- To perform on behalf of the City of Blanchard the functions and powers authorized to it by generally, but not exclusively, Sections 176 to 180, inclusive, of Title 60, Oklahoma Statutes 1961, and the Oklahoma Trust Act.
- In implementation or furtherance of all of the foregoing, to enter into any contractual arrangements in relation thereto, including but not restricted to, purchase contracts, sale contracts, construction contracts, maintenance contracts, operation contracts, service contracts, leases, lease-purchase agreements, options, conveyances, and agreements to enter into or make any of them. In additional implementation or furtherance of the foregoing, to make a gift or gifts of said facilities or services to anyone or more of such governmental entities or to contract to do so; and to fix, demand, and collect charges, rates, rents; and fees for such services and facilities to the same extent as the City itself might do: Provided, that the furnishing of any services or facilities to any person delinquent in the payment of any indebtedness whatsoever to the trust may be discontinued at any time;
- To acquire, by lease, purchase, or otherwise, and to hold, construct, equip, maintain, and operate, any and all physical properties necessary and proper for utilization in the furnishing and providing of said services and facilities; and to relinquish, dispose of, rent, or otherwise make provision for, physical properties owned or controlled by the trust but no longer required for trust purposes;
- To provide funds for the cost of financing, acquiring, constructing, equipping, maintaining, repairing, and operating any of said services or facilities and all properties (real, personal, or mixed) necessary for executing and fulfilling the trust purposes as set forth in this section of this instrument, and all other charges, costs, and expenses necessarily incurred in connection therewith; and in so doing, to incur indebtedness, either unsecured or secured by all or any part of the trust assets or property or its revenues;
- To expend all funds coming into the hands of the trustees, like revenue or otherwise, in the payment of the aforesaid costs and expenses and in the payment of any indebtedness incurred by the trustees for purposes specified herein, and in the payment of any other debt or obligation properly chargeable against the Trust estate, and to distribute the residue and remainder of such funds to the City of Blanchard for the payment of all or any part of the principal or interest of any bonded indebtedness of the City and for any one or more authorized or proper purposes of the City as shall be specified by the Trustees hereunder;
- Whenever it shall be material, the purposes set forth in paragraphs A, B, and C of this section shall be the primary objectives of this trust, and the provisions of paragraphs D to G inclusive, shall be deemed and construed in implementation thereof and collateral thereto. The word "facilities" as used herein means real estate and all privileges, benefits, and appurtenances thereto, and also all buildings, structures installations, and all other physical properties whatsoever, and all rights, privileges, and benefits relating thereto.
