State Ex Rel. Cartwright v. Dunbar

IRWIN, Vice Chief Justice.

The Garfield County Industrial Authority, a public trust, (GCIA) was created pursuant to 60 O.S.1971, §§ 176-180, as amended.1 Garfield County is the beneficiary.

Since the Legislature first authorized the creation of public trusts as a vehicle for “public trust financing” in 1951, ad valorem taxes have not been assessed or paid upon public trust property or upon the possessory *903or contractual interests of private entities in such property.2 At issue in this proceeding is the ad valorem tax status of the possessory and contractual interest which two private entities…