Peabody School In 1885, a bond was issued for the construction of an African American School, which was built soon afterwards. The school, named for George Peabody, a banker who distributed funds to the southern states following the Civil War, educated students in the African-American neighborhood in Hillsboro known as Freetown. A brick building replaced the original frame structure in 1919, and was used until the school moved to here in 1950. Peabody School's last graduating class was in 1966, with primary level classes held on the campus for several more years until full integration occurred. Although the building burned down in 2005, Peabody School remains a source of pride for Hillsboro residents. (2008) #14490