Wierd KH property arrangement II

by somebody 5 Replies latest jw friends

  • somebody

    I was reading the thread "Wierd KH property arrangement" that was started on July 2nd.

    Here is something that was posted by Friend ( if memory serves me right)

    ::Here are just a few interesting facts for your reading pleasure:

    Re: Interests on loans from the Society

    A letter from the Society dated 11/1/99 addressed to "ALL BODIES OF ELDERS IN THE UNITED STATES" states, "Effective October 1, 1999, the rate of interest applied to any Kingdom Hall financing in the United States was reduced to 3%. All new requests for assistance from the Society Kingdom Hall Fund will be at the new rate. For those congregations that currently make repayments, their payments will now be applied as the new rate."

    Re: Kingdom Hall ownership

    Interestingly the Society has redressed this issue directly with local elder bodies as recently as 4/1/00 in a letter to them. That letter presented no real change but rather it reiterates what Xandit has already represented, that congregations retain ownership of Kingdom Hall property through one of two means, either 1) a trusteeship appointed by the congregation or 2) a corporation formed by the congregation. That quite lengthy letter (including enclosures) again spelled out quite clearly that local congregations retain ownership of Kingdom Hall property.

    Of course, if property is financed by the Society then leans are held accordingly, that is until any outstanding loans are repaid in full.


    I remember reading what Jesus taught his disciples regarding giving and lending. In Matthew 5:42 , Jesus' words are, " Give to the one asking you, and do not turn away from the one that wants to borrow from you [without interest]. NWT Revised 1970 edition.

    Does that scripture in the latest version of the NWT still read the same? And what was the interest rate the society was charging before they started with the 3%? Anyone know?

    Inquiring minded,

    ~~~~I wish I had a dollar for every time I spent a dollar, because then, yahoo! I'd have all my money back.~~~~~~

  • somebody

    doh! I forgot to put a topic on this...sorry about that people. :-(

  • Simon

    I've added a subject for you somebody, hope you don't mind (sorry about the bug that doesn't alert you when you post without one)
    I'd be interested also in any more info anyone has about this topic.

  • somebody

    Thanks, Simon.

    IF you have a more modern versin of the NWT, can you look up that scripture and tell me if it still says [with no interest] in it?

    till next time,

    ~~~~~If you're a horse, and someone gets on you, and falls off, and then gets right back on you, I think you should buck him off right away.~~~~~

  • mind blown
    mind blown

    Matthew 5:42 , Jesus' words are, " Give to the one asking you, and do not turn away from the one that wants to borrow from you [without interest]. NWT Revised 1970 edition

    I guess they forgot to read the fine print.

  • GOrwell

    Wow, this thread must be a blast from the past.. Simon with only 260 posts?!

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