CHARLES A NOONE SUSTAINING FUND
The Charles A. Noone Sustaining Fund was established in 1959 in the “Last Will and Testament of Charles A. Noone”; which reads:
“I give and bequeath to my trustees hereinafter named, for the use and benefit of the Chattanooga Bar Association, by whatever name it may then be know, the sum of ten-thousand dollars, to be known as the “Charles A. Noone Sustaining Fund”, to be used as a nucleus in providing funds to be paid to indigent members of the Chattanooga Bar, or those who are sick, or who have gotten old and can no longer practice law. This fund shall be invested and reinvested as hereinafter provided with respect to other trust property. The income there from shall be paid, once every twelve months, to some indigent Chattanooga lawyer. The selection of a beneficiary, and his designation, shall rest in the discretion of the president and secretary of the Chattanooga Bar Association, and, upon such designation being presented to my said trustees, such payment shall be made; provided, however, that the same person shall not be designated as a beneficiary for more than two years.”
Then on January 30, 1990, in a Final Decree in the matter of The Charles A. Noone Sustaining Fund, a trust u/w Charles A. Noone, Deceased; it states:
· “The Chattanooga Bar Foundation is appointed as successor Trustee of the Trust”
· “The frequency of distribution are in the discretion of the president and the secretary of the Chattanooga Bar Association and distributions are not required to be made every twelve months”;
· “Distributions from the Trust may be made ‘to indigent members of the Chattanooga Bar, or those who are sick, or who have gotten old and cannot longer practice law,” as provided in the Will, and also distributions are authorized for education and counseling programs directed primarily at lawyers and their families who suffer from alcohol and drug abuse”.