Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1853-12-01
Milton Calleoa.

ported by the 7 ommltteeon Educa-
ton, and adopted by thq Presbytery
of the C. P, Church recently in ses-
sion in this PLACE. Ever since The
adjournment of that body, we have
been end eavoring to obtain this state
ment for publication, but have been
unsuccessful until now. AS Lincoln
county is the favored Locality of the
College, her citizens, of COARSE, are
interested in knowing all that can be
obtained relative to the plan Of or
gknization, etc
PLAN or ENDOWMENT, VIZ:
WHEREAS, Tennessee Presbytery
has heretofore promised to raise by
subscription, and the sale Of scholar
slips, an Endowment Fund Of not
less than wenty nor more than for
ty thousand dollars; ana whereas, it
is stipulated in the agreement upon
the part Of the subscribers who agreed
TO furnish The lot Of ground, an ID to
erect suitable building TIL reon, that
SO soon as Tennessee Presbytery
shall have placed in the hands Of
the Board Of Trustees of said In
stituti0n tn ) sum of twenty t hQu-
sand dollars in cash. or cash n ptes,
that said lot Of ground and Col
lcge property shall be decided to said
I Presbytery for Educational purposes
forever; q es0leed, That the su m of
twenty thousand dollars be raised
first, and as soon as practicable, by
subscriptions or donations and sales
of scholarships hereafter to be grad
uated. And it is further belle vcd
that the Endowment Fund may be
extended to at least fifty or 81 xty
thousand dollars, which The Ten hes-
see Presbytery Will endeav6r to I pise
in the same way Indeed, the Pres
bytery as aforesaid will feel bound
to 30 on TO secure addition al end ow-
melt funds from time to, time as
she may be enabled, until said Insti-
tuition Shall have been sufficiently
endowed for all necessary purposes
Scholarships shall be offd red upon
The following te Rms and co nditions,
and donations received, viz: LIST.
The payment Of (S80'00) eighty
dollars shall endow a single scholar
ship, which shall entitle the subscri-
Ter to the tuition Of one student for
the term Of four years.
"a. The payment Of (SlG0 00j
one hundred and sixty dollars, shall
6ndow a scholarship which shall emit
Tie the subscriber to the tui tion Of
one Or more of his own sons OF of any
student he Il nay select, amounting in
the aggregate to nine years.
Sd. Any individual association Of
individuals, corporation, or congrega
ton who shall pay Or SECURE to the
Trustees Of Milton College the sum
Of $500 00) five hundred dollars,
shall be entitled to a perpetual schol-
arship, to which the party or parties
may appoint any pupil he or they
may think proper.
4th. No sale of limited or perpet-
ual scholarships or donatieHss hall be
binding either on the purcha ser or
donor, or on the Board Of Trustees,
until donations and The sale Of schol-
nrsbins amounting to twenty thou
sand dollars are ola and subscribed
BY donation, (due notice whereof shall
be Civ en- in the public Prints; after
which time all contracts for scholar /
ships and donations made previous [
% that date Shall be binding on the !
parties concerned, shall be due and
bear interest. On the payment Of !
scholarships, subscribers and pur-
shasers of the same shall be fur Il
lished with q certificate signed bylT
lie president and secretary Of the e
Board of Trustees Of said College,
guaranteeing said subscribers the
privileges enumerated by the Ten q
leseee Presbytery or the Board of !,
7rusteos, according to their respect !;
90 subscriptions. g