Conclusion of an Era

Mount Olive Dissolution, 1963

Mount Olive Baptist Church was formally dissolved on February 1, 1963, concurrent with the transferal of the deed to the Mt. Olive Cemetery Association Incorporated.  Following are the minutes from the last formal meeting of the church as an organized body, which was held July 29, 1962.

The “Mt. Olive #1” notation was adopted after another Mount Olive Baptist church was established in Ashley County, near Crossett.


LAST MINUTES OF THE MT. OLIVE #1 CHURCH AS AN ORGANIZED BODY

Mt. Olive #1 Baptist Church met in conference at the church on Sunday, July 29, 1962, at 3:00 P.M.  Members present were James J. Stone, Mrs. Marcella Franklin Stone, Robert M. Stone, Mrs. Ruth Douglas Stone, J. V. B. Stone, Ira G. Riley Sr., Others present were Mrs. Lois Franklin Moyers, I. G. Riley Jr., and Mrs. Davenport.

Robert Stone led in prayer.  James J. Stone was appointed moderator, Mrs. Marcella Stone was appointed clerk and the authority invested in her to write letters of dismissal for those requesting them after the time of dissolution of the church.

The first order of business was a discussion of the deeding of the Mt. Olive Church property to the Mt. Olive Cemetery Association Incorporated.  The articles of the Incorporation were discussed.  A motion was made by Robert Stone to delete from Article 6 the following clause: “and to pledge by mortgage or other wise, all or any portion of its property or assets for the repayment thereof.”  This motion was seconded by Mrs. Marcella Stone.  Motion was carried unamimously.

A request for letters from Fellowship of the Church was granted to Mrs. Lois Moyers, Linda Stone and David Moyers.

A motion was made by Mrs. Ruth Stone to grant letters to all who requested them before the church disbands.  Seconded by Ira G. Riley, Sr., Motion carried unanimously.  Letters for Mr. And Mrs. Ira G. Riley Sr., were granted.

Mr. Ira G. Riley, Sr., made a motion to disband the Mt. Olive #1 Baptist Church on the day and hour the deed is signed over to the Mt. Olive Cemetery Association Incorporated.  This motion second by Robert Stone.  Motion carried unanimously.

A motion to adjourn was made by Ira G. Riley, Sr., and Second by Robert Stone.

                                                            James J. Stone, Moderator

                                                            Mrs. James J. Stone, Clerk

The deed was signed on February 1, 1963, at 11:30 a. m. by the following Deacons:  J. V. B. Stone, Robert M. Stone and James J. Stone.

OFFICERS AND DIRECTORS OF Mt. Olive Cemetery Association Incorporated are:  James J. Stone, President; I. G. Riley Jr., Vice President; Mrs. Lois Franklin Moyers, Secretary; Douglas Stone and Jack Judkins.


Mount Olive Cemetery Association Trust Agreement, 1971

The Mount Olive Cemetery Association Incorportated received the deed to the church property on February 1, 1963.  Following is the Mt. Olive Cemetery Association Trust Agreement which was established on March 19, 1971.


            THIS AGREEMENT, made and entered this 19th day of March, 1971 by and between MOUNT OLIVE CEMETERY ASSOCIATIN, hereinafter referred to as GRANTOR, and LOUIS GENE FOOT, hereinafter referred to as TRUSTEE, WITNESSETH:

            WHEREAS, the Mount Olive Cemetery Association is presently incorporated as a non-profit corporation under the laws of the State of Arkansas for the purspose, among others, of maintaining and preserving the existing Mount Olive Cemetary, including the maintenance and care of mausoleums, vaults and graves; said Mount Olive cemetery being described as follows:

Six (6) acres in the Southwest Corner of the Southeast Quarter of the Northeast Quarter of Section 26, Township 15 North, Range 6 West, Dimensions – about 10 chains long (North and South) by 6 chains Wide (East and West).

WHEREAS, certain persons have made contributions totaling $1,500.00 into a fund held by James Stone, President of said corporation, to be used for the above purpose, said contributions being Mr. and Mrs. Robert M. Stone, Lula McKinney, Mr. and Mrs. Julius Trim, Mr. and Mrs. Zack Boykin, Vonnie Bailey, Mr. and Mrs. Henry Stone, Mr. and Mrs. Harry Smith, Mr. and Mrs. Thomas Adair, Mr. and Mrs. Cecil Rowley and Mr. and Mrs. James Stone; and

            WHEREAS, it is the desire of said contributors and of said corporation to establish a trust fund, the income of which shall be used for the purposes hereinafter set forth.

            It is therefore, mutually agreed by and between the parties as follows:

(1)

            GRANTOR hereby conveys, assigns, pays, transfers, and delivers to TRUSTEE the sum of $1,500.00, the receipt of which is hereby acknowledged, to be held in perpetual trust upon the terms hereinafter set  forth.

(2)

            TRUSTEE is hereby authorized to accept and receive any other property or money transferred or paid over to it by GRANTOR or any person to constitute a part of the trust fund hereby created and to be held, invested, managed and disbursed by TRUSTEE in accordance with the provisions hereof.  The fund described in paragraph 1 hereof plus any other and further property or mony received under the paragraph shall be known as the TRUST FUND.

(3)

            TRUSTEE shall hold, manage, invest and reinvest the TRUST FUND in such manner as it sees fit.  All money in said TRUST FUND shall be placed in Certificates of DEPOSIT with Farmers Bank of similar type deposit.  The interest and income shall be transferred to a separate account and shall be kept separate from the TRUST FUND.  The TRUST FUND ACCOUNT shall be titled “MOUNT OLIVE CEMETARY PERPETUAL CARE TRUST FUND” and the interest and income account shall be titled “MOUNT OLIVE CEMETARY PERPETUAL CARE INCOME FUND.”

(4)

            The income from the Trust fund shall be used for puposes of maintaining, preserving, and caring for Mount Olive Cemetary, including the care of Mausoleums, valuts, and graves.  No portion of the TRUST FUND shall be used for said purpose, said TRUST FUND to remain inviolate.

(5)

            It is hereby agreed that the Board of Directors of GRANTOR corporation and their successors in office shall constitute an advisory board to assist TRUSTEE in determining when expenditures are needed and the amounts thereof.

            GIVEN UNDER OUR HANDS the day and year first above written.

                                                                        MOUNT OLIVE CEMETARY ASSOCIATION

SIGNED:  Louie Gene Foote                           BY       James J. Stone         

            LOUIE GENE FOOTE                                     JAMES J. STONE




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