Property. The local church considering the purchase or sale of real estate, the erection of churches or church-related buildings, a major remodeling of either, or leasing real property for any reason, shall submit its proposal to the district superintendent and the District Church Properties Board for their consideration, advice, and approval. No indebtedness, whether involving a mortgage or not, shall be incurred in the purchase of real estate or the erection of buildings or a major remodeling of either, without the written approval of the district superintendent and the District Church Properties Board. The local church shall submit quarterly financial and status reports to this board throughout the construction process. (236–237.5)