# LCMS Convention Proceedings_St. Louis Missouri_1956_S258
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

SEMINARIES AND COLLEGES 257

tinguished as to their assignment to the educational and general
plant or to the auxiliary plant.

There are these major sources for capital funds for the educa-
tional and general plant:

A. Special collections and campaigns — this has been Synod’s
primary past practice.

B. Inclusion of capital funds for educational and general in
Synod’s annual budget. Beginning with 1956, this is the present
practice.

C. Synodically authorized planned solicitation from private
donors of capital funds as outright gifts, as annuities, as be-
quests, etc.

D. The use of Synod’s credit position for borrowing for the
erection of needed educational and general plant facilities, to be
repaid from “A” or “B” or “C” above.

The major sources for capital funds for the auxiliary plant at
Synod’s colleges and seminaries may be listed as including:

A. Special collections and campaigns. This has been Synod’s
primary past practice.

B. Inclusion of capital funds for auxiliary plant facilities in
Synod’s annual budget. Since 1956 this is the present practice.

C. Planned solicitation from private donors of capital funds for
auxiliary facilities as outright gifts, annuities, bequests, etc.

D. The use of Synod’s advantageous credit position for bor-
rowing to meet pressing current needs in this area. This debt
might be serviced through repayment from sources “A” or “B”
or “Cc”

E. Synod may decide that there is an acceptable alternative
way of financing new dormitories and dining halls in such a way
that the indebtedness incurred in their erection will be retired
from future earnings through the normal life of buildings which
are expected to serve for a generation or more.

This might involve the use of Synod’s credit position in the
floating of a general or a specific bond issue to make capital avail-
able for immediate needs, or it might involve the use of the insti-
tution’s credit position for loans to be repaid from the earnings or
income obtained from the auxiliary buildings and made with such
agencies as the Federal Housing and Home Finance Agency under
Public Law 475, or through parallel arrangements with possible
interested lenders like general or church-related insurance
companies.

The proper administration of these loans, or of any authorized