# LCMS Convention Proceedings_St. Louis Missouri_1959_S181
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

MISSIONS 181

d. The Treasurer of the Synod shall be an ex officio member
of the Church Extension Board.

8.111 Report of Board

The Church Extension Board shall publish the total amounts
of loans outstanding, and the amounts delinquent in each District,
in its report to the Synod.

8.113 The Fund

a. The Church Extension Fund is a permanent fund, from
which loans can be made to erect or purchase churches, schools,
parsonages, and teacherages or to acquire property for new preach-
ing places or congregations and, if approved by the Board of Direc-
tors, other areas of our church program, in conformity with the
objectives of the Church Extension Fund.

b. This Fund shall be increased

1. through the synodical budget when authorized by the Fis-
cal Conference;

2. by special Synodwide offerings;

3. by gifts, bequests, and devises;

4. by commercial loans arranged by the Board of Directors
of Synod;

5. by borrowing programs among our constituency conducted
under the direction of the synodical Church Extension Board, au-
thorized by the Board of Directors and in co-operation with our
District Church Extension Committees.

8.115 Loans

a. Loans shall be granted at the discretion of the Board to
incorporated Districts, whether subsidized or unsubsidized, and to
synodical mission boards and other areas of our church program
approved by the Board of Directors in conformity with the objec-
tives of the Church Extension Fund.

b. The amount of the loan shall be determined by the needs
of the applicant and the ability to repay. The needs shall be viewed
in the light of the most promising and/or strategic mission fields.
The Church Extension Board shall work in close co-operation
with the Home Mission Board and seek its evaluation of loan
applications.

ce. No loan shall be made without provision of a mutually
agreed-upon repayment schedule. In the event of a default on
a payment, no further loan shall be made to a defaulting District
until the default has been removed.

d. Interest shall be charged the respective Districts at a rate
determined: by the General Church Extension Board.