Fraternity-Testvériség, 1985 (63. évfolyam, 1-4. szám)

1985-01-01 / 1. szám

FRATERNITY

Page 27

and Vice President George Dózsa called upon Priscilla Hunyady, Secretary of the Finance and Auditing Committee to read the report. (EXHIBIT 6)

THE FOLLOWING RESOLUTIONS WERE UNANIMOUSLY PASSED:

RESOLUTION 11

THAT A STATEMENT OF OPERATIONS IN CANADA BE SUBMITTED AS A SUPPLEMENT TO THE TREASURER’S REPORT. FURTHER THAT ATTEMPTS BE MADE TO RECOVER FROM CANADA ALL EXPENSES PAID FROM U S. FUNDS AND THAT CANADA SHOULD RETURN THE ORIGINAL INVESTMENT MADE BY THE HOME OFFICE OVER A FIVE TO TEN YEAR PERIOD.

RESOLUTION 12

THAT FOLLOWING THE REPORT OF THE SPECIAL COMMITTEE, DATED DECEMBER 18-19, 1984, EXAMINING THE SAFETY DEPOSIT BOXES AND THE OFFICE OF THE FORMER TREASURER, JOSEPH S. MOLNÁR, THAT HE BE RELEASED OF HIS RESPONSIBILITIES WITH THANKS AND APPRECIATION.

FURTHER THAT THE COMMITTEE ALONG WITH THE ADMINISTRATIVE COMMITTEE MET AT THE NATIONAL BANK OF WASHINGTON ON MARCH 12, 1985 AND SPOT CHECKED THE BONDS WHICH WERE FOUND TO BE AS REPORTED IN THE ANNUAL STATEMENT. (EXHIBIT 7)

RESOLUTION 13)

THAT THE ENTIRE REPORT OF THE TREASURER AS PREPARED BY WILLIAM B. PUSKAS BE ACCEPTED WITH THANKS AND APPRECIATION.

RESOULUTION 14

THAT THE REPORT OF KOPPELMAN & EGLOW, FINANCIAL COUNSELORS BE ACCEPTED WITH THANKS AND APRRE- CIATION.

RESOLUTION 15

THAT A 5% SALARY ADJUSTMENT BE GIVEN TO FULL TIME SALARIED EMPLOYEES OF THE FEDERATION, WITH THE EXCEPTION OF THE NATIONAL OFFICERS AND EMPLOYEES UNDER CONTRACT, EFFECTIVE APRIL 1, 1985.

RESOLUTION 16

THAT A SALARY ADJUSTMENT OF $1,000.00 BE GIVEN TO THE ANNUAL SALARY OF SAROLTA POTA AND ELIZABETH POTA, EFFECTIVE APRIL 1, 1985.

RESOLUTION 17

THAT THE TERMS AND CONDITIONS FOR GRANTING MORTGAGES BE ON THE FOLLOWING BASIS:

(a) Mortgage loans be granted not to exceed 65% of the appraised value on residental property limited to $65,000.

(b) Maximum loan of $250,000.00 on any one security.

(c) Loans shall be granted for a maximum of 15 years.

(d) Residental mortgages shall be granted to Hungarian Reformed Federation of America members who are in good standing for at least two (2) years. They shall pay an interest rate of one percent (1%) less than the prevailing interest rate where the property is located.

(e) That a credit report be submitted with all applications.

(f) Only $250,000.00 may be remitted in one calendar year on total church mortgages to congregations. Preference will be given where at least 25% of the local membership are members of the Hungarian Reformed Federation of America.

(g) A $50.00 non-refundable fee be charged for each mortgage application which will be given over to the Student Aid and Loan Fund.

(h) No commercial or industrial mortgages be granted with the exception of recasting purchase money of property held, as approved by the Executive Committee.

(i) Granting of mortgages in Canada, only ex- cees funds can be used, available from the Canadian operations and at the prevailing rate of interest in Canada. All other terms and conditions are the same as in the United States.

(j) No commitment for a mortgage be granted until all necessary documents are received with the application and same are reviewed and approved by the Executive Committee and Legal Counselor.

(k) A real estate Escrow Account be continued on all mortgages granted, sufficient to pay taxes and insurance premiums as they become due.