Several centuries later, following the dissolution of the monasteries by King Henry VIII, the royal charter of 1539 ensured that revenues were granted to the bailiffs and commonality of Colchester on condition that they founded a school; this was then enacted by the charter of Elizabeth I in 1585, on condition that at least £13 6s 8d be set aside annually for the schoolmaster. Revenue from other property was also granted, but this was later challenged in court during the reign of William III, and the arrangements were legally reconfirmed. By 1750, under the stewardship of Philip Morant, these revenues were worth £45 per annum and provided scholarships for two boys to study at the University of Cambridge.