South Carolina - Acts on Education Topics

An Act to Provide for the Transfer and Investment of the Downer Fund.

February 11, 1898

Acts and Joint Resolutions of the General Assembly of South Carolina 1898, Pages 786-788.
Click Here to view the Act of December 24, 1887.
Click Here to view the Act of December 22, 1891. Repealed by this Act.

Section 1. Be it enacted by the General Assembly of the State of South Carolina, That T. J. Davies, L. H. Hankinson, R. B. Dunbar, Harry Hammond, B. D. Lamar and J. M. Westbrook, who are recommended for said purpose by the taxpayers of Hammond Township, in Aiken County, being School District Number 7 of said county, and W. C. Page, Frank Dunbar and C. Horn, the Board of School Trustees for said township, and their successors in office, be, and they are hereby, appointed as trustees of the Downer Fund, which arose under the will of Alexander Downer. That in case of a vacancy in the six trustees aforesaid recommended by the taxpayers, the same shall be filled by a majority vote, and the successors of the public school trustees appointed by law shall succeed the present members of the board. Said Board of Trustees so appointed shall elect a Chairman and a Secretary and a Treasurer. Such Treasurer may be a member of the board or an outsider, a resident of this State, if thought proper by the board, and he shall give a bond to the Board of Trustees in the sum of ten thousand dollars ($10,000), conditioned for the faithful discharge of his trust; said bond to be either personal, with good security, or given by some approved guarantee or security company. Said Board of Trustees, when organized, shall have the power to sue and to be sued, to plead and to be impleaded, in the name of the "Board of Trustees of the Downer Fund;"' and shall have power and ability to receive any donations or gifts from parties for the enlargement of the objects of their trust; and to own property and to sell the same by proper deeds of conveyance under the direction and approval of the Court of Equity of Aiken County.

Section 2. That when organized the State Treasurer shall pay over to the Treasurer of the said Board of Trustees of the Downer Fund all moneys, securities and property of the Downer Fund which came into his hand pursuant to the provisions of an Act of the General Assembly of South Carolina, approved December 24, 1887, the same Act being Act No. 434 of the said year of 1887; and the receipt of the Treasurer of said board shall be a sufficient voucher for the said State Treasurer for the transfer of said fund and property.

Section 3. That when said Board of Trustees shall receive said property and securities from the said Treasurer, they are authorized and empowered to use five thousand dollars ($5,000) of said Downer Fund, or so much thereof as they may find necessary, for the purchase or lease of a school site for the erection, purchase or lease of a building or buildings for a school, together with the equipment necessary for a school, and that they may acquire all or any part of the property above mentined by donation; said site must be within the limit of said district, and said school to be called the "Downer School." The property held by said board, in whatever way acquired, shall be free from taxation. That said board shall invest the remainder of said fund, as aforesaid received by them, in safe interest-bearing securities, and shall use the income therefrom for the purpose of educating orphan children at said school according to the tenor and intent of the will of the late Alexander Downer; and the School Trustees of the School District Number 7 of Hammond Township, as aforesaid, be, and they are hereby, authorized and required to order paid annually to the said Board of Trustees such portions of the school fund of their school district as the enrollment of the Downer School will entitle it to, to be used along with the income of the Downer Fund for the purpose of maintaining a school for the children of said school district. That the Treasurer of Aiken County is hereby authorized and required to turn over to the Board of Trustees of the Downer Fund aforesaid the funds allotted for school purposes to said school on its enrollment. That said Board of Trustees are authorized and empowered to employ suitable teachers for teaching in said school, and to charge tuition after the free school period for scholars who attend said school, and also tuition for scholars who are over the free school age during the pendency of the free school, and for scholars outside of the school district at any time, and to make such rules and regulations concerning the management of said school as to them may seem fit: Provided, That the books used in said school shall be books approved by the State Board of Education.

Section 4. That an Act entitled "An Act to provide for the investment of the Downer School Fund," now in the hands of the State Treasurer, approved December 22d, 1891, be, and the same is hereby, repealed.

Section 5. That all Acts and parts of Acts inconsistent with this Act be, and the same are hereby, repealed, and that this Act shall take effect immediately upon its passage.

Approved: February 11th, A.D. 1898.

William H. Ellerbee, Governor.
Miles B. McSweeney, Lt. Governor and President of the Senate.
Frank Boyd Gary, Speaker of the House of Representatives.

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