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Loan is Paid in Full!

At this past Wednesday night’s Annual Council meeting it was announced that the 1.3 million dollar loan that we began paying on in January 2011 has been paid in full.  Here is the text of what Pastor Bill reported to those attending the Annual Council meeting:
“We are extremely pleased to inform you that the loan was paid in full as of last Wednesday.   Most of you are familiar with the details, but for those of you who are not, just a quick review:
Construction on this part of the complex (Auditorium/Children’s Wing) began in 2009 and continued into 2010. The total cost of the project was 2.9 million dollars. We had been setting aside money for years and so when it came time to build we had 1.6 million cash in hand and we took out a loan through the BICF for 1.3 million.
It was set up as a 20-year loan with minimum monthly payments of approximately $8,000.   We were able to pay – from the first month and up to the very end  – $14,000 each month because of money that had been built into the Spending Plan and because of the money that came in through the white “Laying Bricks for Jesus” envelopes.
We were also able to make 2 or 3 extra payments each year ($25,000 – $35,000) throughout the 6 years because of money that came in from the Auction, renting the facilities, memorial gifts, etc.
All this to say that the men I’ve been working with through the years from the BICF were very encouraging and complimentary in their correspondence in regards to the paying off of the loan so quickly.   And this is not to our credit; the funds that we were able to give would not have been there if not for the goodness and the grace of God.
I think back to the night when we met over in the gym back around 2008 and voted to assume a loan in the amount of 1.3 million dollars.   This was a figure far, far greater than we had ever taken on before, and it was a step of faith to be sure.
And so God first blessed us with these facilities and here in this room (the Auditorium) we have worshipped Him and have been impacted by the teaching and preaching of the Word.  And thus equipped to go out and live for Him.
People have made a decision to follow Jesus in this room, or made a recommitment to follow Jesus in this room.   Numerous children have made a decision to follow Jesus down in the Children’s Wing. There have been weddings in this room. And funerals as we have mourned while at the same time celebrating the home going of loved ones.
There have been concerts and a pre-school program and after school programs and we are just blessed.  And so let’s have Brian and Jody come forward and lead us in a song of praise that will also be our prayer:  “To God Be the Glory.”