The Glen Rose Economic Development Corp. swore in new board members on Tuesday afternoon and held a first brief meeting that included hearing about the city's possibility of landing the richest and largest ranch rodeo in the world.

Taking their oaths of office were City Secretary Peggy Busch, bulldozer business owner Jimmy Gosdin and RV park and rental cabins owner Danny Chambers. Gosdin was elected the board's president.

Continuing GREDC members, whose terms have not expired, are City Councilwoman Sue Oldenburg, City Councilwoman Sandra Ramsay, Somervell County Historical Foundation member and Preservation Board member Joan Taylor and architect Ken Prikryl.

The board heard from Billy Huckaby, director of the Glen Rose Convention & Visitors Bureau, who informed them of an opportunity for Glen Rose to vie for the venue for the next Resistol All-Around Ranch Rodeo. It's been held in Clovis, N.M. The next date for the event is next June.

During the rodeo, 40 ranch teams compete over for days for more than $100,000 in cash and prizes. The first-place team wins $50,000 and the event is televised nationally on RFD-TV.

It likely would take the city, council, CVB and other groups working in concert to land such a prestigious and large event, Huckaby said.

Oldenburg likened it to communities and organizations working together to attract the Super Bowl.

"It would be the closest thing Glen Rose has had to the Super Bowl," Huckaby agreed.

The event's advertising budget is more than $30,000 and includes promotion on RFD-TV. The estimated economic impact from the estimated 480 participants alone is more than $270,000.

Huckaby noted that the state has a Special Events Trust Fund that applies part of state gains from sales and use taxes generated during a a period up to 30 days from an event awarded to a Texas venue over other venues.

The fund also can pay up to 50 percent of event-related costs, including security, public transportation and managing traffic, preparing or maintaining a contract and other services.

That's where the GREDC might become involved.

Ramsay said she would like to see a plan in writing and a sample contract. The GREDC will consider whether to pursue the opportunity at a special meeting to be set.

Oldenburg said she would like the board to discuss its contract with Land of the Dinosaurs LLC and said she had spoken to Mike Dooley about making a presentation to the board.

Ramsay also said she would like to discuss the Glen Rose/Somervell County Chamber of Commerce's events coordinator position, currently held by Angel Smith after the resignation of Tonya Fonseca, since the 90-day probation period is approaching.

New board members also will be required to take training in state laws pertaining to open records and conducting open meetings.