ATCO

ATCO Public Improvement Authority

The ATCO Public Improvement Authority is a public trust established for charitable purposes under Section 501(c)(3) of the Internal Revenue Code. Its primary aim is to fund and oversee public improvement projects in Atoka County and Coal County, Oklahoma. The Trust’s activities include the acquisition, construction, maintenance, and financing of public facilities, utilities, and infrastructure.

• Project Financing: The Authority is responsible for financing various public improvement projects, such as waste disposal, power generation, and public buildings, through bonds and other financial mechanisms.
• Property Acquisition and Management: The Authority can acquire, lease, manage, and dispose of property necessary for its operations. This includes entering into contracts and leases with both public and private entities.
• Eminent Domain: The Authority has the power to use eminent domain to acquire property for public use as necessary for its projects.
• Public Facility Operations: It manages and operates public facilities, ensuring their maintenance and improvement in line with the needs of the community and state regulations.
• Funding: The Trust receives funds through grants, loans, and contributions from federal, state, and other sources, which are used to fulfill its purposes. All profits are reinvested into public projects, with no earnings going to private individuals or trustees.
• Trustees: The Trust is managed by a group of five Trustees, which includes public officials from Atoka and Coal Counties, as well as a Trustee-at-Large appointed from the local community. They manage the Trust’s operations and make decisions on financing, project development, and property management.
• Oversight and Transparency: The Trust conducts public meetings, audits, and ensures transparency in its operations, with public access to records and decision-making processes.