SYOSSET, NY [OCA Communications] — The Metropolitan Council of the Orthodox Church in America, under the chairmanship of the Primate, His Beatitude, Metropolitan Herman, met in extraordinary session on May 18, 2006, and voted to accept a loan proposal contained in a commitment letter from The Honesdale National Bank, Honesdale, PA.
When finalized, the loan in the amount of $1,700,000 will be used to consolidate existing external and internal debts of the Church.
After a motion to postpone action was defeated, a motion to accept the terms contained in the commitment letter was approved.
It is anticipated that the closing on the loan will take place on or before July 3, 2006.
At the conclusion of the nearly two hour teleconference, Metropolitan Herman thanked those who participated and those unable to participate who submitted their proxy vote concerning the loan, for their love of Christ and their devotion to the mission of His Church. The Metropolitan emphasized that these are difficult and painful days in the history of our young, autocephalous Church in America. He challenged the members of the Metropolitan Council to join him in refocusing our energy and resources on the Church’s primary task of witnessing to and generously sharing our Orthodox Christian Faith with all people in North America.
“We can anticipate that we will continue to face more dark and stormy clouds,” stated Metropolitan Herman, “but because of God’s mercy and love for us, we will emerge to see the light that He will provide to illumine our way.”