Blanchard Economic Trust Authority

Purpose of the Trust:

  1. To assist the City of Blanchard, the State of Oklahoma, governmental agencies, municipalities and private entities, agencies and citizens in making the most efficient use of all of their economic resources and powers in accord with the needs and benefit of the State of Oklahoma and the City in order to lessen the burdens on government and to stimulate economic growth and development, specifically including, but not limited to, the power to conduct studies and prepare comprehensive plans relating to the future economic growth and development of the City; to inventory the services, facilities and resources of the City; to promote, stimulate, encourage and finance the growth and development of the utility, agricultural, commercial, health care and industrial resources of the City, all in order to achieve maximum utilization of the human, economic and natural resources and tourist attractions; to foster and promote an improved industrial climate within the City and to otherwise promote its general economic welfare and prosperity and to finance any and all programs, utilities, facilities or resources promoting or intending to promote any of the foregoing and, without restriction, in furtherance of the foregoing general objectives, the following specific powers or purposes, to wit:
    1. To promote, develop and finance projects or facilities relating to agriculture, farming, ranching and agri-business of any sort or description including, but not limited to, any land or personal property related thereto, or projects relating to cattle, poultry, irrigation equipment and systems, or other agri­projects of any other sort or description.
    2. To promote, finance and develop commercial and industrial projects or facilities and to exercise all of the powers, privileges and prerogatives of industrial trusts within this State.
    3. To promote, finance and develop hospitals, ambulance services and other health care facilities and any other medically related facilities including, but not limited to, medical and/or dental, optometric, osteopathic or chiropractic clinics, offices, laboratories, nursing homes, research facilities, geriatric facilities, retirement facilities, central service facilities and training facilities, extended care facilities, facilities for aged and/or disabled persons, day care facilities for children and all other types of facilities for serving  the medical and physical needs of people.
    4. To promote, finance and develop projects or facilities relating to the development of energy of any sort or description including, but not limited to those relating to the development of oil, gas, coal, gravel, lead, zinc or other minerals or hydro-carbons or other energy development of any sort or description and synthetic fuel facilities.
    5. To promote, finance and develop projects; facilities, services and industries pertaining to the development or improvement of: individual, commuting, airport and mass transportation; transportation generally; trucking; handling and shipping of goods; railroads, railroad rights-of-way; railroad equipment or rolling stock construction, repair or maintenance facilities; air transportation; public or mass transportation systems, facilities and equipment, and the financing of automobiles, trucks and vehicles of every sort and description; and other methods and modes of transporting people, goods and equipment of whatsoever kind or character, within the boundaries of the city and to provide additional employment or increase transportation efficiency which will benefit and strengthen the economy of the City.
    6. To promote, finance and develop recreational, sports, cultural, tourism, entertainment and communication media projects or facilities including, but not limited to, mass-media broadcasting facilities such as radio, television and cable television equipment and facilities.
    7. To plan, establish, develop, construct, finance, enlarge, remodel; acquire, improve, alter, extend, maintain, equip, operate, lease, furnish and regulate any facilities related  to any of the foregoing and, if desired, to lease such facilities and to operate the same in connection therewith and to do, perform, own, acquire, construct or engage in or finance any  other enterprise or activity, project or facility to such extent and in such manner as now is or may be considered a proper and lawful function of public trust entities within the State of Oklahoma.
  2. To promote the development of adequate housing within the territorial limits of the City whether single-family dwellings or multi-family dwellings:
    1. By making or committing to make or participating in the making of loans to non-profit sponsors of housing;
    2. By making or committing to make or participating in the making of loans to persons upon terms and conditions requiring such owners to use the proceeds of such loans to  construct, acquire, rehabilitate or improve housing and such additional terms and conditions as may be set by the Authority;
    3. By participating in all government agency programs relating to housing and housing projects;
    4. By participating in housing programs of all kinds to assist in providing, safe and sanitary housing to the residents of the City and surrounding community.
  3. To provide funds and assistance for the purposes set out in this indenture which include, among others:
    1. the expansion of the supply of funds in the City available for new mortgage Loans for housing; and
    2. the provision of the additional housing needed to remedy the shortage of such housing within the boundaries of the City and to upgrade substandard housing within the boundaries of the City so as to eliminate the existence of substandard dwellings.
  4. To hold, maintain and administer any leasehold rights in and to physical properties heretofore or hereafter demised to the City or the Authority and to comply with the terms and conditions of any such lease.
  5. To acquire by lease, purchase, production, reduction to possession or otherwise, and to plan, establish, develop, construct, enlarge, improve, extend, maintain, equip, operate, furnish, provide, supply, regulate, hold, store and administer any and all physical properties (real, personal or mixed), rights, privileges, immunities, benefits and any other thing of value, designated or needful for utilization in furnishing, providing or supplying the aforementioned services, utilities, buildings and facilities; to finance and refinance and to enter into contracts of purchase, lease-purchase or other interest in or operation and maintenance of said properties, and revenues thereof, and to comply with the terms and conditions of any such contracts, leases or other contracts entered into in connection with the acquisition, equipping, maintenance and disposal of any of said property; and to relinquish, dispose of, rent or otherwise make provisions for properties owned or  controlled by the Trust, but no longer needful for Trust purposes.
  6. To acquire, construct, reconstruct, extend, lease, purchase, install, equip, maintain, repair, enlarge, remodel and operate any property, improvements, buildings and other facilities of every nature for use by the State of Oklahoma, the United States of America, or the City, or for use by authorities or agencies of the State of Oklahoma, the United States of America or the City or for the use of corporations, individuals, partnerships, associations or proprietary companies for industrial development; to plan, establish, develop, construct and enlarge railroad and railway facilities, trucking, air transportation, public or mass transportation, and all phases of transportation relating to commerce; improve, extend, replace, reconstruct, repair, operate and maintain railroad rights-of-way, trucking, air transportation, public or mass transportation projects, and related facilities; maintain, equip, operate, lease, furnish, provide, supply, regulate, hold, store and administer property, buildings, improvements and facilities of every nature, within the territorial boundaries of the city which may be useful in securing, developing and maintaining such facilities, functions or activities.
  7. To perform, on behalf of the City, all functions, activities and powers authorized by industrial and economic development statutes as they from time to time exist.
  8. To provide funds for the cost of financing, refinancing, acquiring, constructing, purchasing, equipping, maintaining, leasing, repairing, improving, extending, enlarging, remodeling, holding, storing, operating and administering any or all aforesaid property, improvements, buildings, facilities and all properties (real, personal or mixed) necessary or desirable for executing and fulfilling the trust purposes, as set forth in 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 estate and its revenues.
  9. To expend all funds coming into the hands of the trustees as revenue or otherwise for the payment of any indebtedness incurred by the trustees for the purposes specified herein, and in the payment of the aforesaid costs and expenses, and in payment of any other obligation properly chargeable against the trust estate, and to distribute the residue and remainder of such funds to the City.

Board Members

Name Title
Terry Erhardt Chairman
Kim Green Trustee
Jeff Heefner Trustee
Greg Ray Vice Chairman
Michael Scalf Trustee
Eddie Odle Trustee
Vacant Position Trustee