After hearing from each side and noting that the 14-page proposed order submitted to him today “is a lot thicker than the one was back in May,” the judge returned to the original three-page document presented on May 19, 2011, which he said had been “sitting in my drawer since then.” He announced that he already had struck out a paragraph requesting “additional security” for the TEC parties and had entered a figure of $5 million as a benchmark of “fair market rental value” of a select dozen churches in the Diocese ”“ a value presented in May by the TEC attorneys. Lead diocesan attorney Shelby Sharpe explained that no rent ever is paid by churches for use of property owned by the Corporation. Nevertheless, said the judge, the property “does have some value.”
Judge Chupp then set the bond at two percent of $5 million, or $100,000, to be paid by Nov. 20, 2011. In addition to the cash amount, the order requires each of the 48 parishes and missions involved in the judgment to present a “monthly summary of the sources, amounts and payees of any and all expenditures …”