20Trustees’ powers to sell etc and disposal of proceeds etc

20 Trustees’ powers to sell etc and disposal of proceeds etc

20 Trustees’ powers to sell etc and disposal of proceeds etc

Subject as before enacted it shall and may be lawful for the trustees from time to time and at all times hereafter to sell any real and personal property now hereby vested in them or which shall hereafter vest in shall vest in by public auction or private contract as they may deem expedient at such prices as can be reasonably obtained for the same and when sold convey the property sold or any part thereof and thereupon the same shall vest in the purchasers their heirs executors administrators and assigns according to the estate and interest of the Trustees therein absolutely freed and discharged from all trusts. The Trustees shall stand possessed of the net moneys obtained from any mortgage given as aforesaid and the net moneys arising from the sale or resumption of any property sold or resumed after payment and satisfaction of mortgage and other moneys chargeable against any such property and apply the same with the consent of the General Assembly in or towards the erection of buildings for the congregation to which the property mortgaged sold or resumed belongs the improvement repair enlargement or maintenance of the church the minister’s dwelling school house and hall property of the congregation or in the purchase of other property and/or the erection of buildings for such congregation or otherwise use the same for the benefit of such congregation as the General Assembly shall direct, and if there shall be no congregation or if any such property shall be held for the church generally or for any fund institution activity or service thereof then the Trustees shall apply such net moneys according to the direction of the General Assembly.