"They invested the people of Blackwell's tax dollars to hire an environmental attorney to fight Freeport McMorRan for "compensation"
, then by some sort of litigation miracle
, the City of Blackwell recieved a $54 Million Dollar settlement from Freeport in only 3 months after filing their lawsuit against them.
Now the City of Blackwell has taken the $36 Million dollars (what was left after Don Shandy took his share) and formed the Blackwell Public Trust. The trustees are Jim Rodgers, Brad Bechtel, Mark Cordell, Mike Loftis, and Mark Savage. You will recognize some of these names from or Kay Co. Grand Jury webpage. The City of Blackwell placed the $36 Million dollars in the hands of individuals who have severe conflicts of interest with this money and should not be in Trusted
with it. The City of Blackwell broke our City Charter, and many State Laws.
The $36 Million dollars sits in a bank called MidFirst Bank in Oklahoma City. It has one of the lowest FDIC ranking out there. Banks that rank that low are bound to be taken over by other stronger banks. The FDIC insures for only $250,000. How is our money insured against possible loss if the FDIC seizes this bank? The City of Blackwell tells you that it has been in the hand of an "attorney trust account", this maybe true in more ways then one. In the same very large building that MidFirst Bank is in, Bill Rodgers, one of those trustees, used to be the president of a company called Midland Trust Co. And, did you know that Bill Rodgers was one of the original trustees of the Blackwell Industrial Authority and took the contaminated land from the Blackwell Zinc Smelter in 1974? His role in this comes full circle. Take the smelter property creating a burden for the City, and then helps take care of the $36 Million dollars that resulted from that burden. Bill Rodgers has loads of experience in the banking business; Security Bank, Sprit Bank,... and he currently works for the lawfirm that is defending the Mining Company against the Nix Patterson and Roach case.
And as far as Brad Bechtel, Nita Carol mention to the newspaper that she believed that Brad would make a good trustee, because he is good with money. But in a town of 7,000 people how can Brad be the only person who is good with money? I'm sure that there are several members of the Blackwell community who manage business and/or their own personal expenses, that are very good with money? Is there another reason for why Brad was a good choice?
Think about the choices that were made. Read the Kay Co. Grand Jury questions, and get caught up. How much time did the City of Blackwell spend discussing this matter with you? Can't remember? That's because they didn't. They had their first meeting before anyone could barely get a copy true of the indenture. Exhibit A from the Trust documents that is supposed to tell how the money is invested is "missing". Repeated requests for a copy of the document have gone unanswered. They are going to try to move fast with this $36 Million Dollars, and we will try to keep up. So stay alert! If you want the City of Blackwell to use that money to fix your street, curb, sidewalk....you need to pay attention. They have the money now, so there are no excuses and I am sure that they are not thinking about fixing your problems. They want you to forget they even have the money."
--- an opinionated statement by