HomeMy WebLinkAbout1999-11-16-TPT-DooksMemorandum
Date: November 16, 1999
To: Alan Fields, Chairman, Trustees of Public Trusts
From: David & Karen Dooks
Re: Earl & Elsie Dooks Scholarship Fund
What follows are the terms under which the Earl & Elsie Dooks Scholarship
Fund should be administered:
• Monies should be held in the Endowment Fund of the Town of Lexington
managed by the Trustees of Public Trusts.
• Twenty -five percent (25 %) of the income earned each year and all of the
capital gains shall be permanently transferred to the principal portion of
the fund.
• Up to seventy -five percent (75 %) of the income earned shall be
transferred to the Lexington PTA Scholarship Award Committee for
distribution. If the Lexingtion PTA Scholarship Award Committee ceases
to exist, the Lexington School Committee, in conjunction with the
Trustees of Public Trusts, shall designate a successor organization.
• Recipients should possess the following attributes:
"...a Lexington High School graduate whose school work is meritorious
and who is desirous of continuing his or her studies in an established
4 -year college. The candidate must be planning to enter the field of
teaching. Recipients may be either a high school senior or college
undergraduate."
• If in any given year no candidates meet the criteria, all income for that
year shall be transferred to principal.
cc: Tom Fenn
Leo McSweeney
David Williams
Laura Kole