Meeker’s Town Board of Trustees has decided to have two Trust Indentures. At least that’s what it appears will happen when they meet in January.
During their Dec. 18 meeting, one of the agenda items was to correct errors on a previously approved Meeker Growth and Development Authority Trust Indenture or create a new Trust Indenture for Meeker Growth and Development Authority.
That previously approved Trust Indenture, which was created in 2008, was never filed with the Lincoln County Clerk’s Office or the Secretary of State, as required. However, it wasn’t until recently that it was learned it hadn’t been filed.
So that indenture has been and still is non-existent legally.
Anther item on the agenda was “to consider or take possible action for the previously approved Trust Indenture or if a new Trust Indenture is approved to allow the Meeker Growth and Development Authority to resume operation.
Both items were tabled at the suggestion of the Trustees’ legal counsel, James Hodgens, so he can work on them.
We honestly don’t see the need for a town the size of Meeker to have two Trust Indentures. Most of the activities that the Meeker Growth and Development Committee does and has done since its inception don’t require a Trust Indenture.
The Pumpkin Festival, the Pecan Festival, the Community Garden and similar activities are all good and worthwhile projects that draw vendors and bring consumers to the Town and area.
None of those require a Trust Indenture. After all, the Growth and Development Committee has been doing them, some maybe since the inception of that legally non-existent indenture.
From what we understand, Hodgens will work on fixing the one indenture and also create a new one, then present drafts of those for the Trustees to review. He’s indicated he will have a bond counsel review them as well.
It would see more efficient if one new Trust Indenture for the Meeker Growth and Development Authority is created by the attorney which encompasses all aspects of the Town’s needs. Among them would be the ability to buy and sell property and all aspects of that which needs to be included.
The same new Trust Indenture could stipulate that the Meeker Growth and Development Committee would continue to function as it has for the past 15 years.
That, we think, is simple, accomplishes what the Town really needs and does it all in one Indenture.
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