Trustees Records, Vol. 7, 1886 (page 241)

241

Rate of Interest for Perpetual Repair Contracts fixed.
The President, for the Committee on Lots, presented the
following votes which were passed:

Voted. That the rate of interest by which the amount of
principal required to meet the annual charge for ex-
penses is ascertained in applications for perpetual
care of lots be fixed at three percent to all new
applicants from and after this date, instead of four
percent as heretofore charged.

Voted. That the Treasurer shall not hold as in force
any estimates already made by the Superintendent and
send out to applicants for the same after three months
from the date of said estimates.

Examina-tion of Mortgages
Voted. That the President be directed to have the
notes and mortgages, in which the funds of this corpo-
ration are mostly invested, carefully examined in re-
gard to their security and values, and for this pur-
pose he be authorized to employ competent legal
counsel and real estate experts, the results of their
examination to be reported to this Board.

Dissolved.

Lewis G. Farmer,

Secretary.

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