| Title: | Approval of a Loan to the Diocese of San Joaquin |
|---|---|
| ID: | EXC062011.07 |
| Committee: | Finance for Mission (report 44) |
| Citation: | Executive Council Minutes, Jun. 17, 2011, Linthicum Heights, MD, pp. 9-10. |
| Text: |
Resolved, That the Executive Council recognizes the diligent and effective work of its Investment Committee and extends its profound thanks for the time and expertise the members of that committee devote to the investment portfolio; and be it further Resolved, That the Executive Council supports the Episcopal Diocese of San Joaquin (EDSJ) in its protection of diocesan properties and continuing operations, by making an additional loan available as follows: up to $500,000 drawable at any time through 2012. The terms of such additional loan shall be as agreed in the Line of Credit Agreement dated September 2010 between the Diocese and the Domestic & Foreign Missionary Society. |
| Supplementary Text: |
