LCMS Convention Proceedings St. Louis, Missouri — 1986, Page 156

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1996

156 RESOLUTIONS

Treasurer of the Synod) shall be elected by the members
and shall have an understanding of the Church Exten-
sion program and/or demonstrate an expertise in fields
or areas closely related to Church Extension activities,
such as knowledge of real estate, management, and fi-
nancial planning. The Treasurer of the Synod shall be
one of the lay members of the board and treasurer of
the fund. The results of such elections shall be reported
to the Synod at its next convention.

Action: Adopted (9).

To Continue Synod’s
Capital Financing Procedures

RESOLUTION 4-10
Overture 4-12 (CW, p. 155)

Wuereas, The purpose of the synodwide Church Ex-
tension program (Lutheran Church Extension Fund/
Church Extension Fund) is to provide capital financing for
the acquisition of sites and facilities to aid the mission and
ministry of the church; and

Wuereas, The Articles of Incorporation governing the
Lutheran Church Extension Fund and the policy of the
Synod’s Board for Church Extension authorize borrowing
by congregations, associations of congregations, districts,
colleges, seminaries, listed service organizations, and the
Synod itself; therefore be it

Resolved, To continue the present capital financing pro-
cedures as established by the Synod and Lutheran Church
Extension Fund.

Action: Adopted (9).

To Reaffirm Policies Governing Use
of Church Extension Funds

RESOLUTION 4-11
Overtures 4-36A-4-39 (CW, pp- 160-61)

Wuereas, The purpose of the synodwide Church Ex-
tension program (Lutheran Church Extension Fund/
Church Extension Fund) is to provide capital financing for
the acquisition of sites and facilities to aid the mission and
ministry of the church; and

Wuereas, The Articles of Incorporation governing the
Lutheran Church Extension Fund and the policy of the
Synod’s Board for Church Extension authorize borrowing
by congregations, associations of congregations, districts,
colleges, seminaries, listed service organizations, and the
Synod itself; and

Wuereas, Local housing costs may influence the ac-
cepting or declining of a divine call; and

Wuereas, 22 of the 35 US. districts currently have pol-
icies enabling them to make loans to legal corporate ent-
ities, which in turn make loans to employees; and

Wuereas, The legal corporate entity is responsible for
all loans it receives and has the most complete knowledge
of the local situation; therefore be it

Resolved, That we reaffirm that Lutheran Church Ex-
tension Fund/Church Extension Fund loans continue to be

made only to legal corporate entities and not to individuals,
and be it further

Resolved, That such legal corporate entities may, in ac-
cordance with Lutheran Church Extension Fund/Church
Extension Fund guidelines, use such borrowed funds to
assist full-time employees in the purchase of adequate
housing; and be it finally

Resolved, That district Church Extension Funds not
now a part of Lutheran Church Extension Fund review
their policies as soon as practical within the triennium to
bring them into agreement with the policies of the Synod’s
Board for Church Extension and with all applicable gov-
ernmental statutes.

Action: Adopted (9).

(The convention declined a motion to add a resolve stating,
“Resolved, That the Lutheran Church Extension Fund make clear
to investors that funds loaned to legal corporate entities may be
used for personal home loans, as well as church buildings,” since
this possibility is already referred to in present materials.)

To Encourage Participation In and Use
of Lutheran Church Extension Fund

RESOLUTION 4-12
Report 4-02 (CW, pp. 144-46)

WueEreas, Total assets of Lutheran Church Extension
Fund experienced a growth of about $24 million for the
current year to a total fund amount in excess of $250 mil-
lion with 17 districts participating in Lutheran Church
Extension Fund; and

Wuereas, Projected capital needs over the next five
years are $350 million; and

WueEreas, The advantages of internal financing include
lower interest rates to the borrower and opportunity for
individuals, congregations, and organizations to invest
their savings for the church’s mission; therefore be it

Resolved, That we give thanks to the Holy Spirit for
moving people to choose Lutheran Church Extension Fund
for their investments, and be it further

Resolved, That the Synod, in convention, encourage the
remaining U.S. districts to become a part of Lutheran
Church Extension Fund, and be it finally

Resolved, That the Synod endorse the goal of the Lu-
theran Church Extension Fund Board that Church Exten-
sion Fund ultimately be capable of serving as the financing
arm for all the capital needs of congregations, associations
of congregations, colleges, seminaries, listed service or-
ganizations, and the Synod at national and district levels.

Action: None.

To Encourage Use of Synod’s Resources
for Congregational Building Programs

RESOLUTION 4-13
Overture 1-15 (CW, pp- 30-31)

Wuereas, There is a continuing need throughout the
Synod for economical construction and/or remodeling of
facilities; and