To: The Members of Christ the King Lutheran Church
NOTICE IS HEREBY GIVEN, pursuant to the Societies Act, S.B.C. 2015, c. 18 and the Bylaws of Christ the King Lutheran Church (the “Congregation”) of a general meeting to be held on 31/12/2023 at 11:15 am at Christ the King Lutheran Church, 13388 – 104 Avenue, Surrey, BC.
BUSINESS TO BE TRANSACTED AT THE GENERAL MEETING: the members of the Congregation present at the general meeting will be asked to consider a loan agreement between the British Columbia Synod of the Evangelical Lutheran Church in Canada (the “BC Synod”) and the encumbrance of real property owned by the Congregation to secure the BC Synod’s loan to the Congregation.
RESOLUTION TO BE CONSIDERED AT THE GENERAL MEETING: the following resolution will be proposed at the general meeting:
- The voting members of the Congregation resolve by special resolution pursuant to Congregation Bylaw 4(4) to encumber the Congregation’s interest in real property located at 13388 104 Avenue, Surrey, BC V3T 1V6, with the legal description: AIR SPACE PARCEL 1 SECTION 27 BLOCK 5 NORTH RANGE 2 WEST NEW WESTMINSTER DISTRICT AIR SPACE PLAN EPP61077, mortgaged as security for the BC Synod’s loan to the Congregation in the principal amount of $100,000, on the following terms:
- repayment of principal due on 31 December 2025 (the “Payment Date”); and
- interest to accrue at a rate of 5% per annum if the Congregation does not re-pay the principal on or before the Payment Date, and the congregation and the BC Synod have not renegotiated the terms of the loan at least 60 days prior to the Payment Date.
