Resolves of the Executive Council
| Title: | Authorization of Financial Assistance to the Diocese of Honduras |
|---|---|
| ID: | EXC102020.15 |
| Committee: | Finance (report 109) |
| Citation: | Executive Council Minutes, October 9-12, 2020, Virtual Meeting, p. 12. |
| Text: |
Resolved, That the Executive Council approves the forgiveness of the $163,617 of past due interest as of 12/31/2019 on the loan extended in 2014 by the Society to the Diocese of Honduras, thereby fully extinguishing the loan; and be it further Resolved, That an additional $75,000 be granted to the Diocese in three tranches of $25,000 subject to: a. Marketing and sale of the storage facility property and reinvestment of the proceeds |
| Supplementary Text: |