Finances:
Objects:
the managing trustees may appropriate from time to time such part or parts of the land specified in the schedule as they think fit as the site for a diocesan and cathedral centre for the training and care of the clergy and laity and such other charitable purposes of the church of england, primarily but not exclusively in the said diocese of chelmsford, as the managing trustees with the consent of the bishop of chelmsford think fit. the managing trustees shall first defray out of the income of the charity the cost of repairs and insurance and all other charges and outgoings payable in respect of the property of the charity and all the proper costs, charges and expenses of and incidental to the administration and management of the charity. the managing trustees shall out of the yearly income of the charity: - pay the stipends or salaries of any suffragan bishops or assistant bishops of the diocese of chelmsford whose stipends or salaries are no longer paid by the church commissioners; - supplement as the managing trustees think fit the stipends or salaries of any such bishops or pay the reasonable expenses incurred by them to the extent that such stipends, salaries or expenses have not been paid by the church commissioners. provided that the income of the charity shall not be applied as aforesaid in such a way as to relieve the funds of the church commissioners.provision for the establishment of a cyclical maintenance fund to be maintained out of the income of the charity.provision for the establishment of an extraordinary repair fund to be maintained out of the income of the charity (subject to any further order or orders of the charity commission).subject to any payments aforesaid the managing trustees shall apply the income of the charity in furthering the work of the diocesan and cathedral centre in such ways as the managing trustees, with the consent of the bishop of chelmsford, think fit.
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