{"data":{"id":"us-ok/okla.-stat.-tit.-27a-27a-2-7-201","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 27A, § 27A-2-7-201","heading":"Special Economic Development Trust Funds","body":"\n\nA. The county commissioners of the counties which are within a\n\nten-mile radius of an off-site hazardous waste facility may\n\nestablish a Special Economic Development Trust Fund for those\n\ncounties.\n\nB. The trust fund shall be used to market advantages of\n\nindustrial development and to promote industrial development in the\n\ncounties located within the trust area. Such uses shall allow the\n\nauthority to acquire assets, develop property, and to contract with\n\nlocal municipalities or economic development trusts or authorities\n\nto promote economic development in the counties located within the\n\ntrust area.\n\nC. The trust fund shall consist of:\n\n1. All monies received pursuant to Section 2-7-121 of this\n\ntitle;\n\n2. All income from the investment of monies held in the trust\n\nfund;\n\n3. Interest resulting from the deposit of such monies; and\n\n4. Any other sums designated for deposit to the fund from any\n\nsource, public or private.\n\nD. Any trust established pursuant to the provisions of this\n\nsection shall be governed by the provisions of Sections 176 through\n\n180.4 of Title 60 of the Oklahoma Statutes.\n\nE. 1. Such Trust shall be governed by a Board of Trustees of\n\nnot less than six nor more than ten members. Each county within the\n\nTrust area shall be represented equally on the Board of Trustees.\n\n2. Each Trustee shall be appointed by a majority vote of the\n\ncounty commissioners of the county that the Trustee represents. A\n\nTrustee may be removed prior to the expiration of the term of office\n\nby a majority vote of the county commissioners of the county that\n\nthe Trustee represents. In the event there are two or more Trustees\n\nfrom each county, the initial appointments shall be made so that the\n\nterms are staggered. After the initial appointment, each Trustee\n\nshall serve a term of two (2) years and may be reappointed.\n\n3. The Trustees shall receive no compensation for service on\n\nthe Board of Trustees, but may be reimbursed for actual and\n\nnecessary expenses incurred in the performance of their duties as\n\ntrustees in accordance with the State Travel Reimbursement Act.\n\n4. Any action of the Board of Trustees must be approved by a\n\ntwo-thirds vote of the total authorized membership of the Board.\n\n5. The Trustees shall have authority to exercise such powers as\n\nare necessary to perform the duties and functions imposed by the\n\nprovisions of this section.\n\nF. The Board of Trustees shall meet not less than twice each\n\ncalendar year. At the first meeting in a new calendar year the\n\nmembers shall elect a chairman, a vice-chairman, a secretary, and a\n\ntreasurer.","path":["OK Code","Title 27A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os27A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"cff84e9a6e042780c5de10a0a9b10af1e506280f5ff1c9cc92c83c1f246d216d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-27a-27a-2-7-134","next":"us-ok/okla.-stat.-tit.-27a-27a-2-7-301"},"notice":"GroundRules: Original legal text. Not legal advice."}