Dixie College officials will honor philanthropist Val A. Browning Friday by naming the school's library after him.
Browning gave $500,000 for Dixie's library endowment. George O. Rampton, Dixie College assistant president, secured a $1 million federal challenge grant for the library, but to receive the money, the college needed a $500,000 matching contribution. Browning supplied the match.Dixie's benefactor is no stranger to the college. He gave almost $1.4 million for the construction of the Val A. Browning Learning Resource Center, which was dedicated last year. He also donated $50,000 in scholarship funds.
"This new endowment has been earmarked for the library. Only 50 percent of the interest earned each year may be used for the next 20 years. After that, the entire amount may be used. However, we hope to keep it in the endowment so that it will build funds for generations to come," Rampton said.
The annual interest earned will amount to $120,000. Half will be used for library collections, the other $60,000 will be returned to build the endowment, Rampton said.
Browning, 95, has been president and director of Browning Arms Co. and a director of First Security Corp., Utah International, Amalgamated Sugar Co. and Mountain Fuel Supply.
Browning's gift may not be the only financial boost to the Dixie library. College officials say the Dixie library is at the top of the state priority list to receive dollars from the Legislature.
Because of a statewide library study two years ago, the Dixie library was put on the list to be upgraded. Two other colleges received building funds last year. Dixie is scheduled to receive funds for construction that would double the library's size.