sums thus donated or bequeathed, but not especially designated for any benevolent object, shall be appropriated to the "Permanent Fund;" and provided, also, that the Board shall not be required to accept any gift, bequest, or trust to which may be attached conditions that appear to the Board to be unreasonable, or likely to produce embarrassment; and having accepted in good faith, under the conditions imposed, any gift or bequest in trust for any one or more of the benevolent societies or other institutions under the patronage or direction of the Church, the Board shall be responsible only for the careful and economical administration of the same, and shall not be held to account to the beneficiary or beneficiaries thereof either for the fund or for a continuous income therefrom or interest thereon, beyond what may be secured through fidelity and diligence; and all necessary expenses arising from the care or administration of any trust shall be charged to the same. ¶ 326. When any such donation, bequest, grant, or trust is made to this Board, or to the Church, it shall be the duty of the Pastor within the bounds of whose Charge it occurs to give an early notice thereof to the Board, which shall proceed without delay to take possession of the same, according to the provisions of its Charter. ¶ 327. The Board shall make a faithful report of its doings, and of the funds and property on hand, to each quadrennial session of the General Conference of the Methodist Episcopal Church. III. The Permanent Fund. 328. There shall be a Fund known as "The Permanent Fund," to be held by the Trustees of the Meth odist Episcopal Church, the principal of which shall be intact forever, and which shall be invested by said Trustees on first-class securities, and at as favorable rates as can be legally secured. ¶ 329. It shall be the duty of all our Ministers to obtain, as far as practicable, contributions to said Fund, by donations, bequests, and otherwise. ¶ 330. The interest accumulating from said Fund shall be subject to the order of the General Conference for the following purposes: 1. To pay the expenses of the General Conference. 2. To pay the expenses of Delegations appointed by the General Conference to Corresponding Bodies. 3. To make up any deficiencies in the salaries of the Bishops. 4. To relieve the necessities of the Superannuated and Wornout Ministers, and the widows and children of those who have died in the work. |