# LCMS Convention Proceedings_St. Louis Missouri_1959_S300
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

RESOLUTIONS — COMMITTEE 11

Empowering Board of Directors to Borrow
Needed Funds

RESOLUTION 23 B, COMMITTEE 11

WHEREAS, It may not be possible to meet all of the approved
capital-investment needs through budget receipts without causing
cutbacks and retrenchment in other phases of the Synod’s
work; and ,

Wuereas, In line with the resolutions adopted by this con-
vention, the Fiscal Conferences meeting during the next triennium
(1959—62) will be called upon to give favorable consideration to
further necessary and vital building programs, major remodeling
projects, and site acquisitions in connection with the Synod’s
colleges and seminaries, and also other capital investment mission
projects; therefore be it

Resolved, That the Treasurer of the Synod be and hereby is
authorized to borrow the necessary funds in the name of the
Synod, provided the Board of Directors has first determined the
amounts and the conditions under which such funds shall be
borrowed for capital-investment purposes, site acquisitions, and
building-improvement projects already authorized and additional
projects that may be authorized by this convention and for which
funds will be appropriated by the Fiscal Conferences during the
1959—62 triennium; and be it further

Resolved, That if and when required, the Board of Directors
and the responsible officers of the Synod be and hereby are
empowered to do all things necessary to effect such borrowings,
including the pledging of real and other property belonging to the
Synod, in order to secure loans to obtain the necessary funds and
to make adequate provision for the proper repayment of such

borrowed funds.

Action: This resolution was adopted.

Circuit Cabinets
RESOLUTION 24, COMMITTEE 11

Recommendation V of Memorial 804, page 628,
Reports and Memorials

Wuereas, Our honorable Counselors are officers of District and
the Synod, charged with the responsibility of promoting in, and
channeling to, their respective congregations in their circuits the
co-ordinated and complete program of the Synod and District; and

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