The local branch of the Waitaki Boys High School Old Boys’ Association — the last of its kind to disband in New Zealand — was also responsible for significant projects in Oamaru through the years, including playing a major part in the development of a Hall of Memories to commemorate those who served during both world wars.
But Mr Paterson said that the associations, which have struggled to find members and keep attendance up at meetings in recent times, had become "a little outdated" in the modern world.
Association members, including Mr Paterson, president Russell Gawn, treasurer Ian Vercoe and association stalwarts Warren Gilmore, David Liddell and Ron Sim, were all present at their latest and last special general meeting, where they unanimously decided to disband the organisation.
"It was quite emotional. It was a poignant moment to step over that line and dissolve the branch as everyone knew it was the right thing to do," Mr Paterson said.
"With social media and the modern world, associations meeting like that have become a little bit outdated."
The capital funds of the association, about $200,000 have now been passed to the school’s foundation to administer.
Mr Gawn said while the decision was "a sign of the times", with the younger generation of Old Boys’ connecting mostly online, support for past pupils would continue.
"The Old Boys’ will still exist as it does now. We’re looking to get a better return of investment with the school foundation, and we’ll all help each other just as we always have," Mr Gawn stressed.
Mr Sim said the decision to hand over to the school’s foundation was "a good move" and ensured the best financial future for the school.
The dissolution of the association "came with the caveat" that money would be ring-fenced so the Milner scholarship and medal can still be awarded at the end of every year, Mr Paterson said.
