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Dictionary.com Unabridged

noun

a trust designed for the benefit of the general public, as for educational or other charitable purposes (opposed to private trust).

Also called public trust.

Origin:
1855–60

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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"The aim of every political constitution is, or ought to be, first to obtain for rulers men who possess most wisdom to discern, and most virtue to pursue, the common good of the society; and in the next place, to take the most effectual precautions for keeping them virtuous whilst they continue to hold their public trust."

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