LCMS Commission on Constitutional Matters — Minutes St. Louis, Missouri — February 7, 1964, Page 11

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college or seminary properties of which the Synod owns and which property in the
opinion of the Board of Directors would be of no direct use or benefit to the

Synod in the pursuit of its constitutional objectives, at such price or considerg-
tion and upon such terms and conditions as in the opinion of the Board of Directors
vould best serve the interest of the Synod.

“h. The Board of Directors may erect or purchase the necessary residences for
professors, missionaries or synodical church workers, upon recommendation of the
responsible synodical agency and may borrow the money to pay for them. The interest
and principal shall be paid to the agency's budget with the moneys which would
ordinarily be expended for rentals.

110. The meeting adjourned with prayer.

Secretary