William Penn Life, 1982 (17. évfolyam, 1-4. szám)

1982-04-01 / 2. szám

41) The Board of Directors acknowledged the receipt of letter from the Hungarian Folk Museum and the Hungarian (Magyar) Club of Chicago, Illinois. 42) It was moved, seconded and authorized by the Board that the William Penn Association donate the same amount of money as last year to the Junior Achievement of Pitts­burgh. 43) It was moved, seconded and authorized by the Board that the William Penn Association donate $500.00 to the Hungarian Re­formed Ministerial Board to help sub­sidize the Hungarian Reformed Radio Program. 44) It was moved, seconded and authorized by the Board that the William Penn Association donate $ 1,500.00 to each of the following organizations: The Calvin Synod and Hungarian Reformed Church of America, to be used for subsidizing their youth camps. 45) It was moved, seconded and authorized by the Board of Directors to compensate former National Secretary, Albert J. Stelkovics, on per diem basis for service rendered to the Association as Acting Secretary for the period of June 22, 1981 to September 21, 1981. 46) Director Steve Lesco, Ad­ministrator of the 1982 Bowling Tournament, submitted a report on the forthcoming event in Cleveland, Ohio. He stated everything is pro­gressing satisfactorily with ar­rangements. Rooms have been reserved, scholarship meeting ar­ranged, hospitality room will be available, bowling alley reserved, busses reserved, banquet has been arranged and he stated that an ecumenical worship service has been prepared for Sunday morning. President Charles thanked Direc­tor Lesco for his report and for the fine effort he has made in making ar­rangements for this event. 47) The Board of Directors acknowledged receipt of a letter from Branch 45, Cleveland, Ohio. 48) It was moved, seconded and the Board authorized the Executive Committee to inquire into plans for a European trip to Hungary in 1983. Flight plans to be from Pittsburgh to Budapest. 49) President Charles read a let­ter from Oxford Development Com­pany over the signature of Edward Minutes . . . Lewis that Oxford exercising its op Agreement betweei dated February 1 9 ford Development Street. In brief, un (1) not to enter int^ « uumcu ^cml­­nership agreement with the Associa­tion and (2) to pay off the entire balance of $3,225,000 plus interest on or before March 23, 1982. This means that the Association will not be a partner of Oxford in the Oxford 1 Development nor on Block C which is being sold by the Association to Oxford. After discussion, the Board adopted the following Resolution: RESOLUTION WHEREAS, RESOLVED THAT the William Penn Association entered in­to an Agreement with Oxford Development Company/Grant Street, dated February 19, 1980 by which the Association agreed to sell its land known as Block C to the Ox­ford Development Company/Grant Street, under certain terms and con­ditions, and WHEREAS, that Agreement pro­vides either party had the option to elect not to enter into a limited part­nership agreement and, WHEREAS Oxford has exercised its option to acquire the property known as Block C, pay off the con­sideration in full and not enter into a partnership agreement with the William Penn. NOW THEREFORE BE IT RE­SOLVED by the Board in meeting assembled that the President and Secretary and other proper Officers of the Association be they thereby authorized to execute and acknowl­edge a general warranty deed con­veying Association owned property known as Block C described in the Agreement to the Oxford Develop­ment Company/Grant Street. BE IT FURTHER RESOLVED that the President and Secretary are authorized to deliver said deed to Oxford Development Com­pany/Grant Street or its assignee upon receipt of the balance of the consideration being $3,225,000 plus interest and to do and perform each and every act required or necessary to consummate the trans­action in accordance with the terms of the Agreement. BE IT FURTHER RESOLVED that the Association represents that the land known as Block C constitutes less than 51% of the assets of the Association and does not include all or substantially all of the assets of the Association. 1066 0rN »XDlMSNiiye M3N GVOa NO JL9N I NN3d 6£ iavw 3Nia3Hivx *avNioh 1 6100 ZSÍL11Z0 RESOLVED FURTHER that the In­vestment Committee is authorized to invest the proceeds forthwith upon receipt of the consideration in accordance with the plan outlined by President Charles. The Executive Committee is further authorized to prepare a plan or program to use part of the proceeds for fraternal ac­tivities of the Association and fur­ther development of Penn Scenic View. ADOPTED THIS 17th day of MARCH, 1982. 50) The Board of Directors reviewed the Report of the National President dated March 15, 1982 and accepted same in its entirety. 51) Chairman Charles stated he has expressed his thanks and ap­preciation during the past few days. He asked that we continue the faith in the program of the Association and continue the faith in the suc­cessful conclusion of the consolida­tion with the Hungarian Reformed Federation. We should also prepare ourselves for the additional respon­sibilities which will be forthcoming with the consolidation. We will need everyone's input to measure up to the challenge. We will have much more responsibilities to contend with and our membership will be looking for us for leadership in the future. Hopefully by the June meeting, we will be better prepared to bring forth any new recommendations for a new Home Office. Mr. Charles extended best wishes to all the membership and bid everyone present a safe and pleas­ant trip home. 52) Chairman Charles adjourned the meeting at 12:15 P.M. Respectfully submitted, Frank J. Radvany Secretary of the Board ATTEST: Elmer Charles, National President and Chairman of the Board 20

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