[From the October 23, 1824, Centre College Board of Trustees minutes]
Whereas it is represented to the Board of Trustees of the Centre College of Kentucky by a Commission appointed by the body of Divines and Elders which compose the Synod of Kentucky, and which meet annually to transact ecclesiastical business, that the Presbyterian Church in said state of learning, on which the course of education shall be such as they approve and that they would prefer the Centre College as the one to which their donations shall be given, it is therefore agreed that in consideration of the patronage and munificence of said Church and all its organs and numbers being engaged to this Institution forever hereafter and its agreeing to pay the sum of twenty thousand dollars, so soon as said church or Synod or any of its members shall pay into the treasury of that board the sum of five thousand dollars, one fourth paid of said $20,000 dollars. in current money of the United States, or books and apparatus suited to and necessary for the institution raised earlier by donation or devise then the following changes and alterations shall take place in continue in the acts of assembly incorporating (said) institution, To wit
The fourth fundamental rule of the fourth Section of the act of assembly entitled "an act to incorporate the Trustees of the Centre College of Kentucky at Danville approved January the 21st AD 1819" and also the last provisionary clause attached to the last section of the Act commencing with the words "any thing herein contained" to the end of the section, shall be considered as repealed and annulled forever thereafter, & as composing no part of the charter of said institution.
So soon as 5,000 dollars part of the $20,000 are paid the Synod of Kentucky may at their next annual Session proceed to elect one fourth of the Board and the persons so elected shall be members in lieu of those members in whose places they are elected and whose seats in the Board shall have been previously vacated by lot or otherwise; so soon as the next $5,000 dollars are paid, they shall have the right to elect one other fourth in like manner; and when the next $5,000 are paid the Synod may elect another fourth and at the payment of the last $5,000 then the Synod may elect the remaining fourth and when the whole Board are thus appointed by the Synod they shall be divided by lot into three classes as near as may be (the) seats of those of the first class be vacant at the end of the first year, those of the second class at the second year, and those of the third class the third year, but may be reappointed, but if no election is had by the Synod the members shall hold their seats as before till such election is had. These payments shall be made to the Treasury of the Board in current money of the United States or books or apparatus suited to said institution & such as shall be approved by the board or its committee, not more than one fourth of either installment to be discharged in books or apparatus.
The Board may fill vacancies as before but the appointments so made shall be subject to revision by the Synod & to confirmation or substitution by an appointment made by the Synod as that body shall determine, and to prevent doubts about the body called the Synod of Kentucky who shall be thus electors of Trustees, it is understood that it is & shall be the body of the Presbyterian Clergy and Elders in connection with the General Assembly of the Presbyterian Church in the United States of America who meet annually as a Synod in the State of Kentucky of whatever individuals they may be composed at the time of their annual meeting and as such are capable of being identified in fact at each meeting and the certificate of their clerk that such person or persons are chosen to a seat in the board of Trustees shall be entered on the minutes of records kept by the corporation and shall be complete evidence of such appointment or election.
The number of Trustees shall be reduced to 11.
The charter as it stands in the present acts of assembly as modified by this agreement shall not hereafter be altered or changed except on the petition of the Board first recommended by the said Synod.
This agreement be carefully preserved and so soon as the sum of five thousand dollars is paid mentioned the preamble the Chairman of the Board for the time being shall write a receipt therefor on this agreement or writing and shall acknowledge the agreement signed by him by the county court of the county where the College buildings are situated or in the Court of Appeals or General Court and the agreement on receipt aforesaid shall be recorded as may be directed by act of General Assembly, provided that nothing herein contained shall extend to or effect the asylum for the Deaf & Dumb attached to Centre College at Danville, but that shall remain under the contract of the Legislature of Kentucky as heretofore.
The Board of Trustees shall as far as practicable keep employed a competent number of professors and instructors to teach the several branches of literature taught in the Colleges of the U.S. and all funds now belonging to this board and the $20,000 Doll's to be advanced by the Synod shall by wholly and exclusively employed for the purposes of a literary institution.
This agreement was entered into on the part of the Synod of Kentucky at its present meeting October the 18th 1824 as witness on hands.
Gid'n.[Gideon] Blackburn, M. L. K.
John Breckenridge, James Barnes, Clerks pro tempore