Laserfiche WebLink
Breadcrumb Navigation:
April, 2040 <br />Mr, Alan Field, Chairman <br />Trustees of the Public "Trusts <br />Town of Lexington <br />1625 Massachusetts Ave. <br />Lexington, MA 02420 <br />Dear Mr. Field, <br />This letter is to set forth the terms under which the Trustees' the Public trusts agree to <br />hold the trust fund to be known as the Lexington Police Children's Scholarship Fund. <br />The Trustees will hold and invest the fund as part of the Endowment Fund <br />administered by there for the benefit of the Town of Lexington. <br />2. Three-quarters of the net income earned each year by the fund shall be paid out in <br />scholarship(s) awarded by the Lexington P,T,A. Council Scholarship Committee <br />as long as such committee exists. If the Lexington P.T.A. Council Scholarship <br />Committee ceases to exist, the income so earned may be awarded in scholarships <br />designated by the Board of the Lexington Police Betterment Association, <br />3. Scholarships are to be awarded to children of a currently active Lexington Police <br />officer. They do not have to be residents of Lexington to apply, <br />4, One - quarter of the net income earned each year, and all capital gains, shall be <br />added to principal. <br />5. Yf in any given year no applicants apply, income may be transferred to principal, <br />6, Donations may be directed to either or both principal or 'income, <br />g G. Lattiff ent <br />