|
KNOW ALL MEN BY THESE PRESENTS:
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SECTION I DECLARATION AND COVENANT.
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|
The undersigned Trustor hereby contracts with the undersigned
Trustees, and the latter, as individuals and not as holders of public
office (but in furtherance of the performance and execution of their
duties and functions as such), hereby do declare and covenant, between
themselves and unto the Trustor, the State of Oklahoma and the Beneficiary
hereinafter described, that they and their successors do and will
hold, receive and administer the Trust Estate hereinafter described,
as Trustees of a public trust under and pursuant to the laws of the
State of Oklahoma now in force and effect (generally, but not exclusively,
Sections 176 to 180, inclusive, of Title 60, Oklahoma Statutes 1961,
as amended to the date hereof, and the Oklahoma Trust Act), solely
for the use and benefit of said Beneficiary for the public purposes
and functions hereinafter set forth, in the manner provided in this
instrument or, in the absence of applicable provision herein, then
in the manner provided by law on the date hereof. The aforesaid public
trust is created by virtue of the execution of this instrument by
the individuals signing the same as the Trustor and initial Trustees
hereunder; and neither the acceptance of the beneficial interest hereunder,
nor the endorsement hereon of such acceptance, for and on behalf of
the designated Beneficiary Municipality as provided by law, nor the
fact that, at the time of signing this instrument, the initial Trustees
are members of the governing body or officers thereof, shall be deemed
or construed to be the creation of a public trust by said Beneficiary
Municipality or by the governing body thereof.
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SECTION II NAME.
| ||
|
The name of this Trust shall be, and the Trustees thereof in
their representative fiduciary capacity shall be designated as,
| ||
|
THE TAHLEQUAH PUBLIC WORKS AUTHORITY
| ||
|
Under that name, the Trustees shall, so far as practicable,
conduct all business and execute all instrument in writing, and otherwise
perform their duties and functions, in execution of this Trust.
| ||
|
SECTION III PURPOSES.
| ||
|
The purposes of this Trust, for and on behalf of the Beneficiary
as hereinafter described, are:
| ||
|
1.
|
To provide, furnish and supply to the inhabitants, owners and
occupants of property, and to industrial, commercial and mercantile
establishments and enterprises within the corporate limits of the
Beneficiary Municipality and in territory in reasonably convenient
proximity thereto, and to the Beneficiary and any other governmental
agencies or endeavors, utility services and facilities for all purposes
that the same be authorized or proper as a function of the Beneficiary;
and to fix, demand and collect reasonable and non-discriminatory charges,
rates and fees for said 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;
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|
2.
|
For the furtherance of the greater convenience and welfare of
the Beneficiary 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, the county
in which the Beneficiary is located, the school district and/or districts
included in whole or in part within the limits of the Beneficiary,
and/or any agency, instrumentality of either or any of them or to
any one or more of them, such aforesaid facilities and/or services
of any and/or all kinds necessary or convenient for the functioning
thereof;
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|
3.
|
To hold, maintain and administer any leasehold rights in and
to properties of the Beneficiary Municipality devised to the Trustees,
and to comply with the terms and conditions of any leases, devising
said rights;
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|
4.
|
To acquire by lease, purchase or otherwise and to hold, construct,
install, improve, extend, equip, repair, enlarge, furnish, maintain,
and operate or otherwise deal with, any and all physical properties
and facilities needful or convenient for utilization in executing
or promoting the execution of the aforesaid trust purposes or any
of them; and to lease, rent, furnish, provide, relinquish, sell or
otherwise dispose of, or otherwise make provision for, any or all
of said properties and facilities either in execution of any of the
aforesaid trust purposes or in the event that any thereof shall no
longer be needful for such purposes;
| |
|
5.
|
To provide funds for the costs of financing, acquiring, constructing,
installing, equipping, repairing, remodeling, improving, extending,
enlarging, maintaining, operating, administering and disposing of
or otherwise dealing with any of the aforesaid physical properties
and facilities, and for administering the trust for any or all of
the aforesaid trust purposes, and for all other charges, costs, and
expenses incidental thereto; and in so doing to incur indebtedness
(for which the Beneficiary Municipality and its taxpayers shall not
be liable), either unsecured or secured by all or any parts of the
Trust Estate and/or revenues thereof after payment of all costs of
operation and/or maintenance of the utility systems and any other
facilities constituting said Trust Estate;
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|
6.
|
To expend all funds coming into the hands of the Trustees, as
revenues or otherwise, in the payment of the aforesaid charges, costs
and expenses, and in the payment of any indebtedness incurred by the
Trustees for the purposes specified herein, and in the payment of
any other debt or obligation properly chargeable against the Trust
Estate, and to distribute the residue remainder of such funds to the
Beneficiary Municipality, by payment thereof from time to time to
the Beneficiary Municipality to be applied as provided in the City
Charter of said municipality: PROVIDED, that the terms "costs and/or
expenses of operation and maintenance" of the Trust Estate, as provided
in this section shall also include the costs and expenses of, and
incidental to, the running of new utility services, installation of
new meters and minor extensions of utility lines, the making of replacements
occasioned by obsolescence and, in the discretion of the Trustees,
the providing of a reserve for depreciation in an amount determined
from time to time by the Trustees;
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|
7.
|
Whenever the same shall be or become material, the purposes
set forth in paragraphs 1, 2 and 5 of this section shall be primary
objectives of this Trust and the provisions of paragraphs 3, 4, and
6, shall be deemed and construed in implementation thereof and collateral
thereto.
| |
|
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, real, personal or mixed, and all rights, privileges,
and benefits appertaining or related thereto.
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|
SECTION IV DURATION.
| ||
|
This Trust shall have duration for the term of duration of the
Beneficiary Municipality as hereinafter described, and until such
time as the Trust's purpose shall have been fully executed and
fulfilled, or until it shall be terminated as hereinafter provided.
| ||
|
SECTION V TRUST ESTATE.
| ||
|
The Trust Estate shall consist of all money, property (real,
personal and/or mixed), rights, choses in action, contracts, leases,
privileges, franchises, benefits and all other things of value (whether
or not above described) presently on or hereafter coming in the hands,
or under the control of the Trustees pursuant to the provisions of
this instrument or by virtue of the Trusteeship herein declared: PROVIDED,
the legal title to all property (real, personal and/or mixed) coming
into the Trust Estate shall be vested forthwith in the Beneficiary
Municipality with no greater estate than as leasehold thereto being
held in the Trust Estate.
| ||
|
SECTION VI THE TRUSTEES.
| ||
|
A.
|
The Trustees of this Trust, except as hereinafter provided,
shall ex officio, be the same persons who currently shall be the acting
members of the legally constituted governing board of the Beneficiary
Municipality in relation to the utility systems described in Section
84 of Article IX of the City Charter of the City of Tahlequah, as
adopted on the 18th day of June, 1940, and as amended by Section 84a
of said Article IX, adopted on September 22, 1970, presently consisting
of the Municipal Utility Board created by said Article IX of said
City Charter, without distinction as to the office held: PROVIDED:
| |
|
1.
|
Each undersigned Trustee shall continue as such (unless temporarily
replaced pursuant to (C) of this Section until succeeded and replaced
by some other person as an officer of the Beneficiary Municipality
above-designated, ex officio, to be a Trustee, and such other person
shall have qualified as a Trustee hereunder as provided in (D) of
this Section;
| |
|
2.
|
Each person who shall become such an above-designated officer
of the Beneficiary Municipality shall be entitled to qualify as, and
to become a Trustee hereunder and to continue as such (unless temporarily
replaced pursuant to (C) of this Section) until succeeded and replaced
by some other person as such officer of the Beneficiary Municipality
and such other person shall have qualified as a Trustee hereunder
as provided in (D) of this Section: PROVIDED, that in the event the
number of persons constituting the above-designated governing board
of the Beneficiary Municipality shall be reduced by or pursuant to
applicable law, any person who shall cease to be a member of the said
governing board, shall forthwith, cease to be a Trustee of this Trust;
and
| |
|
3.
|
All of the legal rights, powers, and duties of each Trustee
shall terminate when he shall cease to be a Trustee hereunder; and
all of such legal rights, powers and duties shall devolve upon his
successor and successors, if any, with full right and power of the
latter to do or to perform any act or thing which his predecessor
and any predecessor could have done or performed.
| |
|
B.
|
The determination of the fact of a vacancy in Trusteeship shall
be vested exclusively in the remaining Trustee or Trustees and his
or their determination of such fact shall be conclusive; and in the
event that such a vacancy shall be determined to exist, the same shall
be filled as provided by presently existing law, or, in the absence
of such provisions or action, the remaining Trustee or Trustees may
fill such vacancy pending qualification provided in (D) of this Section,
of the person entitled so to do.
| |
|
C.
|
The Trustees may contract, in connection with the incurring
of any funded indebtedness secured by the Trust estate and/or its
revenues, or any part of either or both, that Temporary Trustees,
residents of Cherokee County, Oklahoma, appointed or approved by the
District Court of said county or a Judge of said court, may be appointed
to act in place and instead of permanent Trustees in relation to the
security for such funded debt, in such number that such Temporary
Trustees may constitute a majority of the Trustees, in the event of
a default in the payment of principal of or interest on such debt,
or any default under any instrument securing such debt or pursuant
to which such debt be incurred. Any such contract, if made, shall
provide for the method of appointment of each Temporary Trustee and
shall also provide that any such appointment shall designate the permanent
Trustee to be so temporarily supplanted. Each such Temporary Trustee
so appointed shall, after he shall have qualified as provided in (D)
of this Section, supplant in all respects the permanent Trustee so
designated in relation to the security for such funded debt; and,
during the term of any such Temporary Trustee, the permanent trustee
so supplanted shall be wholly without authority, duty, or liability
of any kind in relation to the security for such funded debt, under
the terms of this instrument. All temporary Trustees shall cease to
have power or authority upon the termination of all defaults by which
their appointments would have been authorized, and, automatically,
the permanent Trustees supplanted shall be reinstated.
| |
|
D.
|
All Trustees, and all Temporary Trustees appointed hereunder
shall qualify by written acceptances of all of the terms of this instrument,
duly acknowledged and filed in the office of the County Clerk of Cherokee
County, Oklahoma, and by subscribing and filing in the office of the
Clerk of the Beneficiary Municipality, and in any other office prescribed
by presently existing State law, such oaths as shall be required by
law of public officers of the State of Oklahoma.
| |
|
E.
|
Upon each change of personnel of the Trustees hereunder, the
Trustees shall cause to be filed in the office of the County Clerk
mentioned in (D) above, a certificate as to the entire personnel of
the Trustees of the Trust.
| |
|
F.
|
The acceptance of the office of Trustee of this Trust shall
not constitute the Trustees hereunder, permanent, or temporary, or
both, to be in partnership or association, but each shall be an individual
and wholly independent Trustee only.
| |
|
G.
|
Notwithstanding any provision of this instrument which shall
appear to provide otherwise, no Trustee or Trustees shall have any
power or authority to bind or obligate any other Trustee, or the Beneficiary
of this Trust, in his or its individual capacity.
| |
|
H.
|
All persons, firms, associations, trusteeships, corporations,
municipalities, governments, and all agents, agencies and instrumentalities
thereof, contracting with any Trustee or Trustees, permanent or temporary
or both, shall take notice that all expenses and obligations, and
all debts, damages, judgments, decrees, or liabilities, incurred by
any Trustee or Trustees permanent or temporary or both, and any of
the foregoing incurred by any agent, servant or employee of any such
Trustee or Trustees, in the execution of the purposes of this Trust,
whether arising from contract or tort, shall be solely chargeable
to, and payable out of, the Trust Estate. In no event shall any Trustee,
permanent or temporary, or the Beneficiary of this Trust, be in any
manner individually liable for any injury or damage to persons or
property, or for the breach of contract or obligation, caused by,
arising from, incident to, or growing out of the execution of this
Trust; nor shall they, or any of them, be liable for the acts of omissions
of each other or of any agent, servant or employee of the aforesaid
Trustees, or of another such Trustee: PROVIDED, however, that the
foregoing shall not apply to any willful or grossly negligent breach
of trust of any said Trustee.
| |
|
SECTION VII POWERS AND DUTIES OF TRUSTEES.
| ||
|
Subject to, and in full compliance with, all requirements of
law applicable to this Trust or to the Trustees thereof:
| ||
|
1.
|
The Trustees, in the manner hereinafter set forth, shall do,
or cause to be done, all things which are incidental, necessary, proper
or convenient to carry fully into effect the purposes enumerated in
Section III of this instrument, and not in conflict with other specific
provisions of this instrument, with the general authority hereby given
being 'intended to make fully effective the power of the Trustees
under this Instrument; and, to effectuate said purposes not limited
thereby, notwithstanding any specific enumeration or description,
in any lawful manner:
| |
|
a.
|
To enter in and conduct and execute, apply for purchase or otherwise
acquire franchises, property (real or personal), contracts, leases,
rights, privileges, benefits, choses in action, or other things of
value, and to pay for the same in cash, with bonds or evidence of
indebtedness, or otherwise;
| |
|
b.
|
To own, hold, manage, and in any manner to convey, lease, assign,
liquidate, dispose of, compromise or realize upon, any property, contract,
franchise, lease, right, privilege, benefit, chose in action, or other
thing of value, and to exercise any and all power necessary or convenient
with respect to the same;
| |
|
c.
|
To guarantee, acquire, hold, sell, transfer, assign, encumber,
dispose of, and deal in the stocks, bonds, debentures, shares or evidences
of interest or indebtedness in or of any sovereignty, government,
municipality, corporation, association, trusteeship, firm or individual,
and to enter into and perform any lawful contract in relation thereto,
and to exercise all rights, powers and privileges in relation thereto,
to the same extent as a natural person might or could do;
| |
|
d.
|
To enter into, make and perform contracts of every lawful kind
or character, including (but not limited to) management contracts,
with any person, firm, association, corporation, trusteeship, municipality,
government or sovereignty; and, subject to applicable provisions of
paragraph (2) of this Section without limit as to amount, to draw,
make, accept, endorse, assume, guarantee, discount, execute and issue
promissory notes, drafts, bills of exchange, acceptances, warrants,
bonds, debentures, and any other negotiable or non-negotiable or transferable
or non-transferable instruments, obligations, and evidences of unsecured
or secured indebtedness, and if secured by mortgage, deed of trust,
or otherwise, secured by all or any part of the income of the Trust,
in the same manner and to the same extent as a natural person might
or could do.
| |
|
2.
|
Notwithstanding anything in this instrument appearing to be
to the contrary, the Trustees shall not incur any indebtedness or
obligation whatsoever which shall be secured by any property or interest
in property leased or licensed to the Trustees by the Beneficiary
Municipality which property or interest in property shall have been
acquired by the Beneficiary Municipality by the expenditure of any
of its funds, or which shall be secured by any of the revenues of
any such property or any part thereof, until first there shall have
been submitted to all of the qualified electors of the Beneficiary
Municipality at an election held for that purpose, the question of
the incurring of such secured indebtedness or obligation, and the
same shall have been approved by a majority of said electors voting
on such question at said election. For the conducting of such an election,
the Trustees hereby are authorized to make all necessary or proper
provisions, among which shall be required the following:
| |
|
a.
|
They shall cause to be prepared a ballot setting forth the amount
of indebtedness or obligations proposed to be incurred, the property
and/or revenues proposed to be mortgaged and/or pledged as security
therefor, and the purpose or purposes for which such indebtedness
or obligation is proposed to be incurred; and
| |
|
b.
|
Notice of any such election shall be published, and any such
election shall be held, in substantially the same manner as shall
then be provided by law for elections on municipal questions:
| |
|
PROVIDED, however, that the foregoing provisions of this paragraph
(2) shall not be applicable to the following:
| ||
|
i.
|
An initial indebtedness not exceeding Seven Hundred Fifty Thousand
Dollars ($750,000.00) in principal amount for the purpose of paying
the Beneficiary Municipality's share of the cost of acquiring,
constructing and equipping a new sanitary sewage disposal plant and
accessory facilities; or
| |
|
ii.
|
Any indebtedness incurred for the refunding of any outstanding
indebtedness of the Trust if the principal amount of the indebtedness
being incurred for such purpose shall not exceed the amount of the
indebtedness being refunded plus costs and expenses necessarily incidental
to the issuance and sale of such refunding bonds; or
| |
|
iii.
|
Any indebtedness not to exceed Fifty Thousand Dollars ($50,000.00)
incurred in any one calendar year for the purpose of paying operating
expenses as defined in Article IX Of the City Charter of the City
of Tahlequah, adopted the 18th day of June, 1940.
| |
|
PROVIDED FURTHER, that any election held by the Beneficiary
Municipality at which the approval of the incurring of indebtedness
by the Authority or the Trustees hereof shall be the proposition submitted,
or shall be included in the proposition submitted, and approved, shall
operate to comply with the requirements of this paragraph (2).
| ||
|
3.
|
The Trustees shall collect and receive all property, money,
rents, and income of all kinds belonging to or due the Trust Estate,
and shall use the same solely for the purposes, and in furtherance
of the purposes, set forth in Section III of this instrument, and
not otherwise.
| |
|
4.
|
The Trustees shall take and hold title to the leasehold estate
in all property at any time belonging to the Trust in the names of
the Trustees or in the name of the Authority and shall have and exercise
exclusively the management and control of the same for the use and
benefit of the Beneficiary Municipality as provided herein, in the
execution of the purposes of this Trust as provided in Section III
hereof; and the right of the Trustees to manage, control and administer
the Trust Estate and its business shall be absolute and unconditional
and free from any direction, control or management by the Beneficiary
Municipality or any person or persons whomsoever, conformable to said
Section III hereof.
| |
|
5.
|
The trustees may employ such agents, servants and employees
as they deem necessary, proper or convenient for the execution of
the purposes of this Trust, and prescribe their duties and fix their
compensation.
| |
|
6.
|
The Trustees may contract for the furnishing of any services
or the performance of any duties that the Trustees deem necessary,
proper or convenient to the execution of the purposes of the Trust,
and shall pay for the same as they see fit to provide in such a contract.
| |
|
7.
|
The Trustees, by Resolution, may divide the duties of the Trustees
hereunder, delegating all or any part of such duties to one or another
of the trustees as they deem proper; but where a specific duty is
not delegated, a majority of the Trustees must act for the Authority.
| |
|
8.
|
The Trustees shall, in the name of the Trust as hereinabove
set forth, or in their names as Trustees, bring any suit or action
which, in their judgment, shall be necessary or proper to protect
the interests of the Trust, or to enforce any claim, demand or contract
for the Trust or for the benefit of the Trust; and they shall defend,
in their discretion, any action or proceeding against the Trust or
the Trustees or agents, servants or employees thereof. And the Trustees
are expressly authorized, in their discretion, to bring, enter, prosecute
or defend any action or proceeding in which the Trust shall be interested,
and to compromise any such action or proceeding and discharge the
same out of the Trust property and assets; and the Trustees also are
expressly authorized to pay or transfer out of the Trust property
or assets such money or property as shall be required to satisfy any
judgment or decree rendered against them as Trustees, or against the
Trust, together with all costs, including court costs, counsel and
attorneys' fees, and also to pay out of the Trust property and
assets such sum or sums of money or transfer appropriate property
or assets of the Trust, for the purpose of settling, compromising,
or adjusting any claim, demand, controversy, action or proceeding,
together with all costs and expenses connected therewith; and all
such expenditures and transfers shall be treated as proper expenses
of executing the purposes of this Trust.
| |
|
9.
|
No bond shall be required of the Trustees, or any of them, unless
they shall deem the same proper and shall provide therefor by Resolution
nor shall any Trustee (except Temporary Trustees serving pursuant
to Section VI hereof) receive any compensation for duties performed
or responsibilities assumed as such, but may be reimbursed for actual
expenses incurred in the performance of duties.
| |
|
10.
|
All proceedings of the Trustees shall be taken in public meeting
only, and the Trustees shall make, or cause to be made, a written
record of all of their proceedings. All records of the Trust shall
be kept in the principal office of the Trust and shall be subject
to inspection during customary business hours as are records of the
Beneficiary Municipality.
| |
|
11.
|
At their first meeting, the Trustees shall designate the principal
office of the Trust; and they also shall designate the time and place
for regular meetings of the Trustees. The time and place of regular
meetings shall not be changed unless at a meeting where all incumbent
Trustees are present. No notice shall be required for the holding
of regular meetings of the Trustees. Special meetings may be held
upon such call as shall be fixed by Resolution of the trustees adopted
at a meeting where all incumbent Trustees are present. The Trustees
shall cause to be filed, in all places where this instrument is recorded,
a certificate designating the principal office of the Trust and the
time and place of regular meetings of the Trustees; and any changes
therein shall be filed for record in like manner.
| |
|
SECTION VIII BENEFICIARY.
| ||
|
A.
|
The term "Beneficiary" and "Beneficiary Municipality," as used
in this instrument, denote the incorporated
| |
|
CITY OF TAHLEQUAH,
| ||
|
State of Oklahoma, and likewise shall denote any municipal entity
which hereafter may succeed said incorporated City as the governing
authority of the territory lying within the municipal boundaries of
said incorporated City on the effective date of such succession.
| ||
|
B.
|
The Beneficiary shall have no legal claim or right to the Trust
Estate, or to any part thereof, against the Trustees or anyone holding
under them; neither shall the Beneficiary, as such, have any authority,
power or right whatsoever to do or transact any business whatsoever
for, or on behalf of, or binding upon, the Trustees or the Trust Estate;
neither shall the Beneficiary, as such, have the right to control
or direct the actions of the Trustees in respect of the Trust Estate,
or any part thereof; nor shall the Beneficiary have the right to demand
or require any partition or distribution of the Trust Estate, or any
part thereof. The Beneficiary, as such, shall be entitled solely to
the benefits of this Trust, as administered by the Trustees hereunder,
and at the termination of the Trust, as provided herein and then only,
the Beneficiary shall receive the residue of the Trust Estate. Notwithstanding
anything in the aforesaid appearing to be to the contrary, no provisions
in this instrument and/or of the Acceptance of Beneficial Interest
thereunder by the governing body of the said Beneficiary, limiting,
restricting or denying any authority, power, or right of the Beneficiary
of said Trust in relation to the administration thereof is intended,
or shall be construed or interpreted, to effect a surrender, or to
attempt to effect a surrender, of any of the sovereign governmental
powers of the State of Oklahoma or of the Beneficiary Municipality;
but any and all provisions of this trust instrument are intended,
and shall be applied, to relate solely and only to the proprietary
rights and property interests of said Beneficiary, in trust as distinguished
from its sovereign governmental powers and authority. Moreover, it
further is agreed that nothing contained in the Declaration of Trust
and/or in the Acceptance of Beneficial Interest thereunder shall be
construed, interpreted or applied as intending to grant, or to grant
to the Trustees hereunder an exclusive franchise in relation to any
powers, rights, or authority of the Trustees under this trust instrument.
| |
|
SECTION IX TERMINATION.
| ||
|
A.
|
This Trust shall be irrevocable by the Trustor and shall terminate;
| |
|
1.
|
When the purposes set forth in Section III of this instrument
shall have been fully executed and fulfilled; or
| |
|
2.
|
In the event of the happening of any event or circumstances
that would prevent said purposes from being executed and fulfilled
AND all of the Trustees and the general governing body of the municipality
having beneficial interest hereunder, with the approval of the Governor
of the State of Oklahoma, shall agree that such event or circumstances
has taken place;
| |
|
PROVIDED, however, that all outstanding contractual obligations
of the Trust chargeable against the Trust Estate shall have been met
or effective provision for such meeting, and for compliance with all
conditions and covenants in relation thereto, shall have been made;
or
| ||
|
3.
|
In the manner provided by Title 60, Section 180, Oklahoma Statutes
1961, as amended by L. 1970, Ch. 319: PROVIDED, however, that this
Trust shall not be terminated by voluntary action if there be outstanding
contractual obligations of the Trustees chargeable against the Trust
Estate unless all obligees of such obligations, or someone authorized
by them so to do, shall have consented in writing to such termination.
| |
|
Upon the termination of this Trust, the Trustees shall proceed
to wind up the affairs of the Trust, and, after payment of all debts
and obligations out of Trust assets, to the extent thereof, shall
distribute the residue of the Trust assets to the Beneficiary hereunder.
Upon final distribution as aforesaid, the powers, duties and authority
of the Trustees hereunder shall cease.
| ||
|
SECTION X PARTIAL INEFFECTIVENESS.
| ||
|
The invalidity or ineffectiveness for any reason of any one
or more words, phrases, clauses, paragraphs, subsections or sections
of this instrument shall not affect the remaining portions hereof
so long as such remaining portions shall constitute a rational instrument.
Any such invalid or ineffective portion was inserted conditionally
upon its being valid and effective only; and this instrument shall
be construed as though such invalid or ineffective portion had not
been inserted herein.
| ||
|
SECTION XI COVENANT.
| ||
|
The provisions hereof shall be binding upon the undersigned,
their heirs, executors, Administrators, and assigns.
| ||
|
IN WITNESS WHEREOF, we have hereunto set our hands, executing
this Declaration of Trust in several multiple originals, all of which
constitute one and the same instrument, this 4th day of December,
1970.
| ||
|
/s/ Leon S. Hirsh
| ||
|
Trustee
| ||
|
/s/ H. I. Hinds
|
/s/ H. B. Upton
| |
|
/s/ James I. Monroe
|
/s/ Clell Yeager
| |
|
Hal Reed
| ||
|
Trustees
| ||
|
ACKNOWLEDGMENT
| ||
|
STATE OF OKLAHOMA, County OF CHEROKEE, SS:
| ||
|
On this 4th day of December, 1970, before me, the undersigned
Notary Public in and for said County and State, personally appeared
Leon S. Hirsh, H. I. Hinds, James I. Monroe, H. B. Upton, Clell Yeager
and Hal Reed to me known to be the identical persons who executed
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 set forth.
| ||
|
/e/ Jack Bliss
| ||
|
———————————
| ||
|
Notary Public
| ||
|
(Seal)
| ||
|
My Commission Expires:
| ||
|
July 5, 1971
| ||
|
On this 4th day of December, 1970, pursuant to Section 84a of
the City Charter of the City of Tahlequah, the Mayor and Council of
said City, the official governing body of said City designated so
to do, hereby accepts, for and on behalf of said City, the Beneficial
interest in the trust created by the within and foregoing Declaration
of Trust.
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CITY OF TAHLEQUAH, OKLAHOMA
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/e/ Jack J. Ross
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———————————
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Mayor
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ATTEST: (Seal)
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/e/ Clare M. Stroup
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City Clerk
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