(A)The purposes of this trust are:
(1)To furnish and supply to the inhabitants, to owners and occupants of property and to industrial, commercial and mercantile establishments, within the corporate limits of the beneficiary municipality and in territory in reasonably convenient proximity thereto, and to the beneficiary municipality and any other governmental agencies or endeavors, hospital services and physical facilities and utility services and physical facilities for all purposes authorized or proper as a function of the beneficiary municipality.
(2)For the furtherance of the greater convenience and welfare of the beneficiary municipality and the inhabitants thereof, to provide and/or to aid in providing and/or to participate in providing, to the United States of America, the state of Oklahoma, the beneficiary municipality, the county or counties within which the beneficiary municipality is located, the school district or districts within which the beneficiary municipality is located and/or to any agency or instrumentality of either or any of them, or to any one or more of them, facilities and/or services of any and all kinds necessary or convenient to the functioning thereof.
(3)To perform, on behalf of the beneficiary municipality, the functions and powers authorized to it by the Oklahoma Local Industrial Development Act of 1961 (62 O.S. §§ 651 to 664, inclusive).
(4)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, sales contracts, construction contracts, maintenance contracts, operation contracts, service contracts, leases, lease purchase agreements, options, conveyances, and agreements to enter into or make any or either of them; and, in additional implementation or furtherance of the foregoing, to make a gift or gifts of the facilities and/or services to any one or more of the governmental entities aforesaid or to contract so to do; and to fix, demand, and collect charges, rates, rents and fees for any services and facilities to the same extent as the beneficiary 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.
(5)To acquire, by lease, purchase or otherwise, and to hold, construct, equip, maintain and operate, any and all physical properties designated or needful for utilization in the furnishing and providing of the aforesaid 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 needful for trust purposes.
(6)To provide funds for the cost of financing, acquiring, constructing, equipping, maintaining, repairing and operating any of the aforesaid services or facilities, and all properties (real, personal and/or mixed) needful 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 and/or its revenues.
(7)To expend all funds coming into the hands of the trustees, as 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 beneficiary municipality for the payment of all or any part of the principal and/or interest of any bonded indebtedness of the beneficiary and/or for any one or more authorized or proper purposes of the beneficiary as shall be specified by the trustees hereunder.
(8)Whenever the same shall be or become material, the purposes set forth in division (A)(1), (A)(2) and (A)(3) of this section shall be the primary objectives of this trust and the provisions of divisions (A)(4) to (A)(7), inclusive, shall be deemed and construed in implementation thereof and collateral thereto.
(B)For all purposes of this section, the word FACILITIES as used herein means real estate and all privileges, benefits and appurtenances thereto, also buildings, structures, installations, and all physical property whatsoever and all rights, privileges and benefits appertaining or related thereto.