# LCMS Convention Proceedings_St. Louis Missouri_1947_S439
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

CONSTITUTIONAL MATTERS 489

Administration

1. The Church Extension Fund shall be administered by the
Board for Home Missions in North America. The present Board
for Home Missions in North America shall be enlarged by the
addition of two members, who shall constitute its Church Ex-
tension Department.

2. The accounts of the Fund shall be handled by the Fiscal
office of Synod.

3. The Board for Home Missions in North America is authorized
to engage a full-time man, should the services of such a man be-
come necessary.

Capital

The capital of the Fund shall be increased

a. Through the synodical budget — when specifically authorized
by the Fiscal Conference;

b. By special Synod-wide collections — when authorized by
the Board of Directors;

c. By such gifts, bequests, and devises as are received for it;

d. By such undesignated gifts, bequests, and devises as the
Board of Directors may assign to it.

Capital-rich Districts are encouraged to make loans to the
Church Extension Fund for the purpose of lending money to
capital-poor Districts.

Loans

1. Loans without interest shall be made to Districts, synodical
boards, and the Synodical Conference. Districts shall use their
own resources before seeking supplemental help from the Church
Extension Fund. .

2. The amount of such loans shall be determined by the needs
of the applicant, and such needs shall be viewed in the light of the
most promising and/or strategic missionary fields.

3. In order to defray the administrative expenses of the Fund,
a one-time administration fee of one per cent shall be charged on
each loan and deducted at the time the loan is made. If the ad-
ministration fees are not sufficient to pay administrative expenses,
the additional expenses shall be provided by the budget of Synod.

Repayments
1. It shall be the policy to require the repayment of loans at
a minimum rate of 10 per cent per annum, such repayments to
be made in quarter-annual installments, the first such quarter-
annual installment to become due on the first anniversary of
the loan.
2. When conditions necessitate the acquisition of property or