Laserfiche WebLink
Breadcrumb Navigation:
1377 Massachusetts Avenue <br />Lexington, Massachusetts <br />May 23, 2000 <br />Mr. Allen S Fields <br />Trustees of Public Trusts <br />Town of Lexington <br />Lexington, Ma, 02420 <br />Dear Mr. Fields: ( Stavenhagen Family Scholarship Fund ) <br />This letter is to set forth the terms upon which the Trustees of Public Trusts <br />agree to hold the trust fund ( to be known as the Stavenhagen Family Scholarship <br />Fund) established by the Stavenhagen Family Fund. <br />1. The Trustees will hold and invest the fund as part of the <br />common trust funds administered by them for the benefit of the Town of <br />Lexington. <br />2. Net Income from the shall be paid as follows: <br />(a) Each year the Trustees shall award a scholarship in the <br />amount of up to three- fourths of the net income of the fund. Remaining <br />income from the fund shall be added to the principal. <br />(b) The scholarship will be awarded to a student who has <br />demonstrated a need for the funds in order to continue his or her <br />academic education . <br />(c) The scholarship will be awarded to a student who has <br />worked conscientiously and to the best of his or her ability without <br />necessarily achieving high level academic standing. <br />(d) Awards will be made by The PTA Scholarship Committee <br />in accordance with the above and using its usual selection <br />processes. <br />Sicerely yours, <br />Carole H. P. & Joseph Stavenhagen <br />