Bond Offering Information


July 24, 2006

Greetings,

On July 11, 2006, Bethany’s Church Council unanimously approved proceeding with the construction of the new sanctuary as well as the financing package proposed by the Finance Committee. As you may or may not know, a vital part of that financing package is an internal bond investment program, available only to the Bethany congregation and those close to the church. This program offers two benefits: First, it reduces the overall amount of interest on borrowing for the construction of the new sanctuary; this savings provides Bethany with greater financial flexibility to invest in ministry opportunities. For every $1,000 we sell in bonds, the church will have an additional $140 dollars for ministry. Second, the program provides an opportunity for our congregation to “invest” in Bethany and the work God is doing here.

If you are interested in the bond program but are unfamiliar with bonds and how they work, please click on the link to “Bond Basics”. If you are interested in participating, please click on the link to the “Official Bond Memorandum” and follow these steps:

1. Please read the memorandum carefully. If you have any questions, please do not hesitate to contact Philip Peterson, Bond Coordinator, at the church (ph: 206-524-9000 ext. 16, e-mail: philipp@churchbcc.org.
2. If you are satisfied with the terms and wish to purchase bonds, please complete the bond commitment card and return the card along with your check (made out to Bethany Community Church). Please indicate on the memo line of your check that it is for Bond purchase. You may either drop the envelope in the offering plate on Sunday or mail the information to: Bond Coordinator, Bethany Community Church, 8023 Green Lake Dr. N., Seattle, WA 98103. Our goal is to have the majority of the bonds purchased prior to construction.
3. You will receive a receipt back in the mail after your check has been deposited. The receipt will indicate the official date of sale of the bond (which is the date your check was deposited). Your first interest payment will be made on January 1, 2007 and will be calculated from the bond sale date. For example, if your check is deposited on August 5, your first interest payment will be for slightly less than 5 months of interest.