A. For all public trusts created pursuant to 60 Oklahoma Statutes sections 176 through 180, for which the city is beneficiary and for which the trust's governing body (trustees) are comprised entirely of members of the city council, the requirements of this chapter, excluding section 3-1-16, "Incurring Indebtedness", of this chapter, shall apply.
B. For the purposes of the public trusts, as used above, the terms "governing body" shall mean board of trustees of the trust, "chief executive officer" shall mean trust manager as appointed by the trustees, "city treasurer" shall mean trust treasurer as appointed by the trustees or required by the trust indenture. (Ord. 2008-03, 5-13-2008)