# LCMS Convention Proceedings_St. Louis Missouri_1965_S191
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

EEE.

To Accept Report of Division
of Controllership
RESOLUTION 15-07

Report 15-05 (cw, pp. 419—429)

Resolved, That the report of the Division of Con-
trollership be accepted,

Action: This resolution was adopted.

To Decline to Liberalize Synodical
Amortization Program
RESOLUTION 15-08
Overture 15-10 (CW, p. 433)

Wuereas, Funds borrowed for non-self-amortizing
capital expenditures must be amortized with future
synodical budget funds, thus reducing the amount avail-
able for operations; and

WHEREAS, Interest on long-term loans will materially
increase the actual cost of the facilities; therefore be it

Resolved, That Overture 15-10 of the Oklahoma Dis-
trict Board of Directors be declined,

Action: This resolution was adopted.

To Decline to Make Pension Funds Available
for Church Extension Purposes
RESOLUTION 15-09

Overture 15-17 (CW, p. 435)

Resolved, That Overture 15-17 be declined,
Action: This resolution was adopted.

To Express Appreciation to Aid Association
for Lutherans
RESOLUTION 15-10
Report 15-01 (CW, pp. 408, 409)

Wuereas; The Aid Association for Lutherans has
agreed to make a grant of up to $60,000 to produce a
filmstrip that will reflect a wholesome image of the
Synod to its congregations; therefore be it

Resolved, That this convention express its apprecia-
tion to the Aid Association for Lutherans for this gen-
erous gift,

Action: This resolution was adopted.

STEWARDSHIP AND FINANCE

191

To Liberalize Amortization Policies
for Construction of Dormitories and Other
Select Auxiliary Facilities
RESOLUTION 15-11

Overtures 15-11, 15-12, 15-13, 15-14, 15-15 (CW, pp.
433—435); 15.29 Un (URO, p. 56)

Wuereas, The Great Commission of our Lord, “Go
therefore and make disciples of all nations,” makes it
imperative that the number of church workers be in-
creased substantially; and

Wuergas, Greatly increased enrollments at our insti-
tutions are joyfully anticipated; and

Wuerras, Present facilities are insufficient to pro-
vide for a significant increase in enrollment; and

Wuereas, Student housing igs income-producing
Property, making self-amortization Possible; and

WHEREAS, Public and private colleges have demon-
strated the feasibility of financing the construction or
acquisition of student housing by means of long-term
loans which are repaid from the income produced by
the facility; and

Wuereas, The capital expenditures necessary to sup-
port the growing requirements for higher-education fa-
cilities need to develop at a faster rate than the budget
Position of the Synod will permit; therefore be it

Resolved, That the Board of Directors of the Synod
be authorized to borrow funds on a long-term basis to
finance the construction or acquisition of facilities on
condition that these facilities can be amortized from the
income derived therefrom; and be it further

Resolved, That Resolution 11-28 of the Cleveland
convention, which restricts amortization to seven budget
periods, be waived in financing self-amortizing facilities,

Action: This resolution was adopted.

To Encourage Districts to Take Initiative
to Carry Out Approved Resolutions
in Synodical Mission Endeavors
RESOLUTION 15-12
Overture 1-18 (CW, p. 30)

Wuereas, The District is the extension of the Synod
for the communication and implementation of synodical
resolutions; and

Wuereas, The Synod develops plans and materials
to carry out fund-gathering endeavors; and

WHEREAS, Uniformity in such Synodwide programs
is desirable; therefore be it

Resolved, That Overture 1-18 be declined,
Action: This resolution was adopted,