Public Finance

Touro Funds

SECTION 35-9-2

§ 35-9-2. Judah Touro fund.

The following act as passed by the general assembly in March, 1879, shall continue in force:

"Whereas, it has been made to appear to this general assembly that Judah Touro, formerly of New Orleans, deceased, made in his will the following bequest: "I give and bequeath ten thousand dollars ($10,000) for the purpose of paying the salary of a reader or minister to officiate in the Jewish synagogue of Newport, Rhode Island, and to endow the ministry of the same, as well as to keep in repair and embellish the Jewish cemetery in Newport aforesaid, the said amount to be appropriated and paid or invested for that purpose in such manner as my executors may determine concurrently with the corporation of Newport aforesaid, if necessary; and it is my wish and desire that David J. Gould and Nathan H. Gould, sons of my esteemed friend, the late Isaac Gould, Esq., of Newport aforesaid, should continue to oversee the improvements in said cemetery and direct the same,' and that said city of Newport accepted said bequest and that the said money was paid by the said executors to the persons authorized by said city to receive it, and the same, with accumulations, now stands invested in the name or in the hands of certain trustees of the Judah Touro ministerial fund, appointed by said city. And whereas it is desired that said city shall be expressly authorized to hold said trust property and perform the trusts thereof: Therefore,

"It is enacted by the general assembly as follows:

"§ 1. The said city of Newport, by its city council, is hereby empowered to demand, recover and receipt for and take and hold the property aforesaid, and to invest and keep invested the same in its name upon the trusts aforesaid, and to use and apply the same to and for the said trusts, with power to appoint and employ such officers and agents as may be needful or desirable for the care of said property and the proper performance of said trusts."

History of Section.
(G.L. 1896, ch. 84, § 1; G.L. 1909, ch. 99, § 1; G.L. 1923, ch. 111, § 1; G.L. 1938, ch. 648, § 1; G.L. 1956, § 35-9-2.)