HomeMy WebLinkAboutDeclaration of Trust_Amendment 1
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AMENDMENT TO DECLARATION OF TRUST
KNOW ALL MEN BY THESE PRESENTS:
THIS AMENDMENT TO TRUST INDENTURE dated as of the 15th day of
November, 1988, by Sherry Lambert, hereinafter referred to as the "Trustor" and Alan
Anderson, Frank Enzbrenner, Tom Kimball, Stacy P. Lamb, Patricia K. Marlar, Brenda
Lawrence and Bill Retherford, to be known as "The Owasso Economic Development ~
Authority", and hereinafter referred to as "Trustees" is entered into as an amendment
to that certain Declaration of Trust dated as of October 20, 1987, recorded in
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Book Page /02
of the records of Tulsa County, Oklahoma.
WITNESSETH:
(A) Article III of the Declaration of Trust dated as of October 20, 1987 (the
"Declaration of Trust") by and between the above-mentioned Trustor and Trustees, is
hereby amended to read as follows:
ARTICLE III
PURPOSES
The purposes of this Trust, for and on behalf of the Beneficiary as hereinafter
described are:
(1) To assist the Beneficiary, the State of Oklahoma, its Governmental
Agencies, municipalities and private entities, agencies and citizens in making the most
effieient use of all of their economic resources and powers in accord with the needs
and benefit of the State of Oklahoma and the Beneficiary 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
Beneficiary; to inventory the services, facilities and resources of the Beneficiary; to
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promote, stimulte, encourage and finance the growth and development of the
agriculture, commereial and industrial resources of the Beneficiary, all in order to
achieve maximum utilization of the Beneficiary's human, economic and natural
resources and tourist attractions; to foster and promote an improved commercial and
industrial climate within the Beneficiary and in territory in reasonable convenient
proximity thereto, and to otherwise promote its general economie welfare and
prosperity and to finance any and all programs, 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:
(a) To promote and develop any and all public works projects or facilities of
any type or description including but not limited to those for water, sewer,
solid waste, garbage, trash disposal, natural gas or other public utilities of
any type or description.
(b) To promote, develop and finance projects or facilities relating to
agriculture, farming, ranching and agri-business of any sort or deseription,
including, but not limited to, any land or personal property related thereto,
or projects relating to cattle, poultry, irrigation equipment and systems, or
other agri-projeets of any other sort or description.
(c) To promote, finance and develop commercial and industrial projects or
facilities and to exercise all of the powers, privileges and perogatives of
industrial trusts within this State.
(d) To promote, finance and develop hospitals 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
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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.
(e) 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, the financing of oil and gas equipment,
refineries, drilling and pumping rigs and equipment, or other energy
development of any sort of description and synthetic fuel facilities.
(f) To promote, finance and develop projects, facilities, services and
industries pertaining to the development or improvement of: individual,
commuting 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 Beneficiary and in territory in reasonable convenient
proximity thereto, and to provide additional employment or increase
transportation efficiency which will benefit and strengthen the economy of
the Beneficiary.
(g) To promote, finance and develop recreational, sports, cultural, tourism,
entertainment and communication media projects or facilities including
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a00K5210P1r,F g32 but not limited to mass-media broadcasting facilities such as radio,
television and cable television equipment and facilities.
(h) 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, aequire, 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 funetion of public trust
entities with the State of Oklahoma.
(2) To promote the development of adequate housing within the territorial
limits of the Beneficiary and in territory in reasonable convenient proximity thereto,
whether single family dwellings or multi-family dwellings:
(a) By making or committing to make or participating in the making of loans
to non-profit sponsors of hoLising;
(b) 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;
(c) By partieipating in all Government Agency programs relating to housing
and housing projects;
(3) To provide funds and assistance for the purposes set out in this Indenture
which include, among others:
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(a) the expansion of the supply of funds in the Beneficiary available for new
Mortgage Loans on housing; and
(b) the provision of the additional housing needed to remedy the shortage of
such housing within the boundaries of the Beneficiary and in territory in
reasonable convenient proximity thereto, and to upgrade substandard
housing within the boundaries of the Beneficiary so as to eliminate the
existence of sub-standard dwellings.
(4) To hold, maintain and administer any leasehold rights in and to physical
properties demised to the Beneficiary 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 neeciful 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.
(8) To acquire, construct, reconstruct, extend, lease, purchase, instalt, equip,
maintain, repair, enlarge, remodel and operate any property, improvements, buildings
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and other facilities of every nature for use by the State of Oklahoma, the United
States of America, or the Beneficiary, or for use by authorities or agencies of the
State of Oklahoma, the United States of America or the Beneficiary 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, replace, operate and maintain railroad rights-of-way, truckage, air
transportation, public or mass transportation projeets, and related facilities, maintain,
equip, operate, lease, furnish, proide, supply, regulate, hold, store and administer
property, buildings, improvements and facilities of every nature, within the territorial
boundaries of the Beneficiary and in territory in reasonable convenient proximity
thereto, whieh may be useful in securing, developing and maintaining sueh facilities,
funetions or aetivities.
(7) To perform on behalf of the Benefieiary all funetions, 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 ineur indebtedness,
either unsecured or secured by all or any part of the Trust Estate and its revenues.
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(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 (as
hereinafter defined), and to distribute the residue and remainder of such funds to the
Beneficiary.
(B) Otherwise the Trust Indenture shall remain in full force and effect.
IN WITNESS WHEREOF, the Trustor and the Trustees have hereunto set their
hands on the day and year indicated.
,
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Sherry La ert, Tr o lan Anderson, Trustee '
--Frank Enzbrenner, Tr stee Tom Kimball, Trustee
,
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Stacy P.amb rustePatricia K. Marlar, Trus ee
, '
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rustee Bill Retherford, Trust e
Ba L
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BOOK521 O 136
I ( ~ - ~ ; Y `ACKNOWLEDGEMENTS
~~3 SEP 27 APl 9: 46
STATE OF OKLAHOMA )
)SS J 0 At -rsidu 3
Ti?LSA Ct~U~{ ~ Y CLER~t
COUNTY OF TULSA )
~
On this /~day of Uv , 1988, before me, the undersigned,
a Notary Public in and for the C unty and State aforesaid, personally appeared Sherry
Lambert, to me known to be the 'dentical person who signed her name as Trustor to
the within and foregoing instrument, and acknowledged to me that she executed the
same as her free and voluntary act and deed for the uses and purposes therein
mentioned and set forth.
GIVEN UNDER MY HAND AND SEAL the day and year last above written.
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~ ~'(SEAL).
N ublic
, .
My 1,91iiniission expires:
y1~1a• E y 1 '
' O • • * (j r
STATE OF OKLAHOMA , '
~ ~ ~ ~ ~ ; ~
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COUNTY OF TULSA
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On this day of , 1988, before me, the w}c"~~s~g~t~d~'~*;.•~.,`C~ •
a Notary Public in and for the Co nty and State aforesaid, personally appe'?4" ~an~ Anderson, Frank Enzbrenner, Tom imball, Stacy P. Lamb, Patricia K. Marlar, Br,~,nda 'Lawrence and Bill Retherford, to me known to be the identical persons who signed
their names as Trustees to the within and foregoing instrument, and acknowledged to
me that they executed the same as their free and voluntary act and deed for the uses
and purposes therein mentioned and set forth.
i GIVEN UNDER MY HAND AND SEAL the day and year last above written.
t r ublic
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yic~oinmission expire
/
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BooK5210ParF 137
STATE OF OKLAHOMA )
)SS
COUNTY OF TULSA )
ACCEPTANCE
KNOW ALL MEN BY THESE PRESENTS:
That the City Council of the City of Owasso, State of Oklahoma, hereby accepts
the beneficial interest in the Authority created by the within and foregoing
Amendment to Declaration of Trust, for and on behalf of said City in all respects in
accordance with the terms of said Amendment to Declaration of Trust.
WITNE5S my hand as Mayor of said City, attested by the Clerk of said City,
gursuant to direction of the City Council of said City, this 15th day of November,
i 1" Y li F,i..
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- S `kTTEST: Mayor°
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City Cle