Grace Council Minutes 1.21.12
Opening Devotion-Dennis Polglaze
Line of Credit & Mortgage loan
Discussion of pros and cons of options
Roll over the $8,000.00 line of credit into the mortgage refinancing or leave as 2
separate debts. May need to add to the line of credit by February or March. Line of
Credit is currently at 5.1 or 5.2%.
Building loan can be refinanced at 4.5% variable with no caps or leave as is @ 6.5%
fixed. Currently pay $1400.00 per month on Building loan. .
After much discussion-options were presented-
1. Roll line of credit $8000.00 to 25,000(max line of credit) into mortgage loan &
2. Refinance Mortgage and leave line of credit as is.
3. Leave Mortgage and Line of credit as is.
Motion made to leave mortgage and line of credit as is and revisit monthly.
Worship & Music and Evangelism submitted budgets based on previous years written
Budgets. No chairs for these committees.
Nominations for 2012=Sue Levetzow-President
Worship & music-open
Stewardship & Finance-4 candidates
Sugar Creek-Dr. John Samuelson, Bill Menke, Eric Niemier-new
Mission Endowment Fund-Eric Bradley
Names still needed to fill vacancies and for additional committee members.