Additionally, in his will, Nesmith made the unusual bequest of $5,000 to the city of San Diego to be used to build a school named after him 150 years after his death.
Nesmith was an important figure in early San Diego history as he was president of the Bank of San Diego, the incorporator of the San Diego Daily Bulletin, a trustee of the San Diego Publishing Company, director of the Texas and Pacific Railroad Company, and the first president of the San Diego Benevolent Association. This was an excellent price for a lot only one block from the bay, especially since in the week prior, Horton had sold an adjoining lot to Thomas L. On April 3, 1871, Alonzo Horton sold the southeast corner lot at Fifth Avenue and K Street to W.A Buttrich and G.A.
