Resolves of the Executive Council
| Title: | Approval of a Loan to the Diocese of San Joaquin |
|---|---|
| ID: | EXC062010.03 |
| Committee: | Finance for Mission (report 24) |
| Citation: | Executive Council Minutes, Jun. 18, 2010, Linthicum Heights, MD, pp. 9-10. |
| Text: |
Resolved, That the Executive Council supports the Episcopal Diocese of San Joaquin in its protection of diocesan properties and continuing operations, by making a loan available as follows: $500,000 for legal actions, drawable at any time through 2012; and $350,000 for operations, drawable during calendar year 2011. The terms of such loans, which may include deferral of interest payments, to be determined in consultation between the Diocese and the following officers of the Domestic & Foreign Missionary Society: the Treasurer, the President of the House of Deputies, the Presiding Bishop and the Chief Operating Officer, which shall be reported regularly to the Council in the future. |
| Supplementary Text: |
