# LCMS Convention Proceedings_St. Louis Missouri_1950_S632
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

632 FINANCIAL MATTERS

sufficient moneys for the building of much-needed chapels and.
schools for our mission congregations; and ,

Wuereas, The Pension System of Synod has a trust fund of
six and one-half (6%) million dollars being invested largely in
Government bonds; therefore be it

Resolved, That we of the Michigan District of the Missouri
Synod, assembled in convention in Saginaw, Mich., June 19—23,
1949, petition The Lutheran Church — Missouri Synod to make
some of these moneys from Synod’s Pension Trust Fund available

for Church Extension work. Micrican District

Henry C. Mutter, Secretary

[832]
Loans from Church Extension Fund

Wuereas, The present Church Extension Fund of Synod and
of most Districts are inadequate to meet the building needs of
subsidized and self-supporting congregations; and

Wuereas, Congregations are now spending large sums of money
for interest on loans from banks and other loaning institutions; and

Wnuereas, Such loans from banks will become more frequent
as Synod expands and grows unless Synod itself provides more
funds for such building needs; therefore be it

Resolved, That the regulations of Synod applying to the invest-
ment of the Pension Fund be changed to authorize the investment
of not to exceed one fourth thereof in a Special Church Extension
Fund, to be made available as loans to congregations over and
above the sums now available to them under existing regulations
governing the Church Extension Fund, the rates of interest. to
be charged for such loans from the Special Church Extension Fund
to be not less than four per cent (4%) per annum. ,

Tue CALIFORNIA AND Nevapa District

_ C. Fickenscner, President
’ R. J. Jacets, Secretary