Deal returns money to original purpose
Published 12:00 am Wednesday, March 8, 2000
After two years of disagreement, all sides involved appear to have struck an amicable deal on the disbursement of several public trust funds.
The funds in question — the Carpenter School Fund, the Agnes Z. Carpenter Library Fund and the Isaac Laub Milk Fund — were all created in the 1930s and were intended to benefit the public school system.
Through the years, the funds have grown and now total nearly $2.5 million — quite a bargaining chip by anyone’s measure.
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And in recent years the funds have been used as a bargaining chip between the Natchez-Adams School District and the mayor, who heads each trust committee that oversees the funds.
On Tuesday, officials announced a mutual agreement which benefits everyone.
A large portion of the library fund, the smallest of the three, will be pared off and given to the George W. Armstrong Library. The library board will receive about $325,000, which will leave the original $70,000 in the fund untouched.
Interest from the other two funds will be given to the Natchez-Adams School District. The district plans to use the money to put a computer in each classroom at Natchez High School, Natchez Middle School and the Central Alternative School.
We’re happy that the resolution of the funds is finally complete.
The folks who created the funds intended for the money to help benefit the public and after a brief squabble, that’s finally happening again.