North Carolina - Acts on Education Topics

An Act to Authorize the Trustees of Smithville Academy to Raise the Sum of Seven Thousand Dollars by Lottery or Lotteries.

1798 - Chapter LVI

The Laws of North Carolina of 1798 - Pages 28-29

Whereas, it is represented to this General Assembly, that certain liberal and well disposed persons have subscribed sums of money for the purpose of erecting a School Houfe or Academy at the town of Smithville, and that the subscriptions would increase if it appeared probable that an adequate fund for erecting a proper building and supporting the same could be raised: Therefore to encourage an undertaking so laudable, which may be highly beneficial to the inhabitants of the county ot Brunswick, and produce advantages more extensive hereafter,

I. Be it enacted by the General Assembly of the state of North Carolina, and it is hereby enacted by the authority of the sam, That the Trustees of the said Academy established by the present General Assembly, shall have power, and they are hereby permitted to raise the sum of seven thousand dollars by a lottery or lotteries, as they or a majority of them shall deem most proper; and that the said Trustees and their successors, be and they are hereby appointed Commissioners for the purpose of opening and completing a scheme or schemes of a lottery or lotteries, calculated to raise the sum aforesaid, in which there shall not be more than two blanks to one prize; and the said Commissioners or a majority of them, shall be Managers of said lottery, and accountable for the prizes and profits thereof.

II. And be it further enacted, That when three-fourths of the said tickets are sold the drawing of the sailo lottery shall commence, under the management of said Commissioners, they giving thirty days notice in the Wilmington Gazette.

III. Be it further enacted, That all prizes shall be paid in four weeks after the drawing is finished, upon demand of the possessor of a fortunate ticket; which prize shall be subject to a deduction of ten per cent, - and if such prize is not demanded within six months after the drawing is finished, of which public notice shall be given in the Wilmington Gazette aforesaid, the same shall be considered as relinquished for the benefit of said Academy; and the net profits of said lottery or lotteries shall be vested in the Trustees aforesaid, for the use of the said Academy.

IV. Be it further enacted, That before the Commissioners herein appointed, shall begin to act in pursuance of this law, they shall entere into bond with security, to be judged sufficient by the court of Brunswick County, for the sum of seven thousand pounds, payable to the Chairman of the said Court and his successors; which bond shall be void on condition that they the Commissioners aforesaid, shall well and truly perform the trust hereby reposed in them, that is to say, that they will without fraud, delay, or other deduction than ten per cent, herein prescribed, pay to every fortunate adventurer in said lottery or lotteries, the prize he shall draw therein, in the time before mentioned; and further, that they the said Commissioners shall fully and faithfully account for all the profits which shall arise from the lottery or lotteries aforesaid, in six months after drawing the same, to the said Court or the Court ensuing the same.

V. Be it further enacted, That the Commissioners aforesaid, fail to perform any part of the condition of said bond, any person aggrieved by such failure, may without assignment bring suit on said bond, in the name of the Chairman of said Court, in any Court of record within this state having cognizance thereof; and all such sums recovered thereon shall be to the use of the person or persons who shall bring suit, and the said bond shall be judged with the Clerk of the Court of Brunswick County, who shall keep the same as part of the records of the Court aforesaid.

Read three times and ratified in General Assembly,
the 24th day of December, Anno Domini, 1798
William White, Secretary

Benjamin Smith, S.S.
Mussendine Matthews, S.H.C.

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