Mililani Presbyterian Church

Mililani Presbyterian Church Endowment Fund

Beneficiary location:

Mililani, HI

Account number: 102240005996

Designated Use

Reinvest income back into principal until March 31, 1998. Beginning April 1, 1998 the net income therefrom quarterly shall be reinvested into a separate fund until said income is requested by Mililani Presbyterian Church and shall use the said income from the Fund hereby established as follows: 50% for capital expenditures; 50% for any emergency as determined by the Session. At such times as the principal reaches $40,000.00 the Session may have the privilege of withdrawing up to 50% of the principal for the following uses: 50% for capital expenditures; 50% for any emergency as determined by the Session. $20,000.00 in principal must always remain in the Fund. Should the Session approve such withdrawal of principal and/or accumulated income, then such withdrawal shall be made according t the rules of the Foundation then in effect. The Session shall provide written notification to the Foundation of such approved withdrawal. Any written request for withdrawal must be received by the Foundation at least ten business day prior to the periodic valuation deadline of March 31, June 30, September 30, or December 31, in each year.