William F. Raynolds Fund

Board of National Missions of the Presbyterian Church (USA)

Fund Restriction

[BCEF] is to form a Perpetual Fund from which to advance or furnish to congregations of the Presbyterian Church in the United States of America (the Northern Church) money to aid them – First – in the purchase or erection of manses or parsonages, and Secondly, in the erection of church buildings, the amounts so furnished or advanced to be refunded by the said congregation at regular stated intervals, of not to exceed one year, until the whole sum advanced together with at least Three per cent interest annually on the amounts unpaid shall have been refunded and paid – And the said Board shall take full and ample security for such payments.