CORNWALL College received a new school bus and a fund, which school administrators say will provide a continuous source of development assistance for the 110-year old institution.

The fund was set up by the recently formed Cornwall College Trust Limited (CCTL), which is comprised of local and overseas alumni chapters.

Jeff McLeod, the CCTL chairman, told guests at the recent launch that former students were expected to be the main contributors to the fund, although some support was expected to come from members of the public.

The group also handed over a school bus valued at US$30,000 during the function, which was held on school grounds.

The new bus is expected to significantly cut the institution's transportation bill, estimated at more than $500,000 per year.

McLeod explained that the money that was used to purchase the bus was raised both locally and overseas, adding that the unit was handed over fully insured for a year.

Meanwhile, Principal Denham McIntyre expressed gratitude to the CCTL and all the former students, for the interest they have shown in the development of the institution.

"We must understand that quality education comes at a considerable cost and that it will take the involvement of all stakeholders to assume its timely delivery," he stated.

Cornwall College, an all-boys' institution, celebrates 110 years of existence this year.