Library, schools get piece of trust funds
Published 12:00 am Tuesday, March 7, 2000
Dr. Clifford Tillman has spent 47 years on Natchez’s library board — but he said Tuesday he’d had his first &uot;ecstatic moment.&uot; The library board learned it will receive nearly $325,000 to invest in a trust fund, while the Natchez-Adams School District will receive about the same amount to put at least one computer in each classroom at Natchez High School, Natchez Middle School and the Central Alternative School.
The money comes from three trust funds, each established in the 1930s: the Carpenter School Fund, Agnes Z. Carpenter Library Fund and Isaac Laub Milk Fund.
The city and school district have been wrangling over the funds for about two years. In 1998, school board members argued the city was withholding the trust fund money although it was intended only for use by the school district.
Each trust fund is administered by a trust committee headed by the mayor. The funds were established to aid children in public schools, which have received about $20,000 a year from the interest on the funds since they were established. The school fund currently has about $1.4 million, the library fund, $392,000 and the milk fund, $784,000, said Natchez Mayor Larry L. &uot;Butch&uot; Brown.
&uot;None of the original invested amounts are being touched,&uot; Brown said.
Brown said the library board will receive about $325,000, which is the balance of the library trust fund minus the original amount invested. That original $70,000 will remain in trust to continue to grow, while the library board will be able to establish its own trust with the $325,000. Brown said the library board will have nearly $70,000 available to spend once the fund transfer is complete.
&uot;I’ve been on the board a long time, but this is the first ecstatic moment I’ve had,&uot; Tillman said.
Library board members said they have not yet decided what to do with the money.
&uot;We’ve never had more than a dollar and a half to spend,&uot; laughed Tillman, president of the library board. &uot;This may be difficult.&uot;
Board members did cite needs such as reference materials and more staff.
Brown said the school system plans to put computers and printers in classrooms.
Superintendent Dr. Carl Davis could not be reached for comment.