Authority – Declaration of trust - Termination. A. Upon the effective date of this act, the state expressly approves the creation of a public trust to be named the "American Indian Cultural Center and Museum Trust Authority", also known as "AICCMTA", of which the state shall be the beneficiary and the provisions of this act, as passed by the Legislature and approved by action of the Governor, shall constitute the acceptance of the beneficial interest in such public trust pursuant to the provisions of Section 176 et seq. of Title 60 of the Oklahoma Statutes; provided, however, such approval shall be contingent upon satisfaction of the following conditions: 1. Finalizing the declaration of trust; and 2. Adoption of the declaration of trust by an official action of the trustees of the AICCMTA. B. The approved declaration of trust shall: 1. Specify that the AICCMTA shall be created as a public trust pursuant to Section 176 et seq. of Title 60 of the Oklahoma Statutes and shall have the same rights, responsibilities and attributes as any public trust created under such laws; 2. Specify that the primary purpose of the AICCMTA shall be to carry out the functions, duties and responsibilities pursuant to Section 1226 et seq. of Title 74 of the Oklahoma Statutes and the provisions of this act; and 3. To the extent required by law, specify the adoption of bylaws and rules for the due and orderly administration and regulation of affairs of the AICCMTA, which shall require approval in accordance with the provisions of the Administrative Procedures Act. C. 1. The AICCMTA shall have eleven (11) trustees, seven of which shall be members of a federally recognized American Indian Tribe located within this state and of those seven trustees three shall be appointed by the Governor, two shall be appointed by the President Pro Tempore of the Senate, and two shall be appointed by the Speaker of the House of Representatives. Such tribal membership shall be determined by the respective tribes. Appointments shall be made from names provided by tribal governments, councils or other recognized tribal entities. Appointments shall be restricted to not more than one representative of any tribe. Such appointed members initially appointed shall continue in office for terms of from three (3) to seven (7) years, respectively, from the date of their appointment, with the term of each initially appointed member to be designated by the Governor at the time of the appointment, with one member to be appointed to a three-year term, two members to be appointed to a four-year term, one member to be appointed to a five- year term, one member to be appointed to a six-year term, and two members to be appointed to a seven-year term. Any person appointed to fill a vacancy shall serve only for the unexpired term. Succeeding terms shall be for a term of four (4) years. 2. The other four appointed trustees shall be from the business community and shall be chosen as follows: two members shall be appointed by the Governor, one member shall be appointed by the President Pro Tempore of the Senate, and one member shall be appointed by the Speaker of the House of Representatives. Each member shall have at least fifteen (15) years of experience in business, banking, finance or corporate law and shall have demonstrated outstanding ability in business or industry. However, in lieu of appointing a member with such experience, one of the two members appointed by the Governor may be a person who has exhibited at least three (3) years of outstanding leadership and involvement in recognized Native American organizations and activities. The initial terms of the trustees appointed by the Governor shall be for one (1) year, the trustee appointed by the President Pro Tempore of the Senate shall be for two (2) years and the trustee appointed by the Speaker of the House of Representatives shall be for three (3) years. Upon the expiration of a term any succeeding term shall be for four (4) years. Any person appointed to fill a vacancy shall serve only for the unexpired term. 3. None of the appointments otherwise authorized by this subsection shall be effective until title to the real property and improvements constituting the AICCM has been transferred to the AICCMTA as provided by Section 1226.2 of Title 74 of the Oklahoma Statutes. D. The provisions of The Governmental Tort Claims Act shall apply to the AICCMTA as a state-beneficiary public trust created pursuant to state law. E. Members of the AICCMTA shall be exempt from the provisions of Section 6 of Title 51 of the Oklahoma Statutes. F. Notwithstanding any other provision of law, the AICCMTA shall have the authority to transfer title of the American Indian Cultural Center and Museum (AICCM), and the real property upon which it is located (as more fully described in Section 2 of this act), and any intellectual property or personal property (including exhibits) still held by the AICCMTA, less and except monies held by the AICCMTA, to the City of Oklahoma City (City) within five (5) years after the date on which all outstanding bonds issued for the AICCM have been retired, including any bonds or other obligations issued by the Oklahoma Capitol Improvement Authority (OCIA) pursuant to Section 3 of this act, pursuant to the agreements provided in paragraph 5 of subsection B of Section 1226.2 of Title 74 of the Oklahoma Statutes; and in connection therewith, the Legislature finds and hereby declares that the commitments entered into by the City as contemplated by paragraph 5 of subsection B of Section 1226.2 of Title 74 of the Oklahoma Statutes shall be adequate consideration. Such transfer shall not occur until after all outstanding bonds issued for the AICCM have been retired including any bonds or other obligations issued by the Oklahoma Capitol Improvement Authority (OCIA) pursuant to Section 3 of this act. G. The AICCMTA created by this section shall be terminated and abolished upon the transfer contemplated by subsection F of this section. Upon such termination, any remaining monies held by the AICCMTA shall be transferred to the General Revenue Fund of the State Treasury, all then-existing funds of the AICCMTA shall be abolished, and any remaining rights of the AICCMTA shall be transferred to the Office of Management and Enterprise Services.
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