Finances:
Objects:
the estate fund income to be applied(a) for meeting the cost of maintenance of property of the charity;(b) for defraying administrative costs of the charity;(c) establishing and maintaining an erfsubject to the above,the income to be divided as follows:-(1) one-eighth to st.giles school fund (2) one-eigth to belmont school fund(3) four-eighths to the parish church of st.giles durham (4) two-eighths tothe parish church of st.mary magdalene,belmont.the charity fund income to be applied for defraying administrative costs of the charity and subject thereto,as follows:-(1) one half towards providing the stipend for a curate for the ecclesiastical parish of st.giles,durham;(2) one half towards providing the stipend for a curate for the ecclesiasticalparish of st.mary magdalene,belmont.(for further details see clauses 3-10 of 1995 scheme).
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