HomeMy WebLinkAbout2000-02-16-TPT-MovsessianLEXINGTON HIGH SCHOOL
CLASS OF 1954
56 Martin Road
Concord, MA 01742
February 16, 2000
Mr. Alan Fields, Chair
Trustees of Public Trusts
Town of Lexington
Lexington, MA 02421
Dear Mr. Fields:
This letter is to set forth the terms under which the Trustees of Public
Trusts agree to hold the trust fund to be known as
The Lexington High School Class of 1954
Lawrence G. Movsessian Memorial Scholarship Fund:
1. The trustees will hold and invest the fund as part of the
Endowment Fund administered by them for the benefit of the Town
of Lexington.
2. Three quarters of the net income earned each year by the fund
shall be paid out in scholarship(s) awarded by the Lexington PTA
Scholarship Committee as long as such committee exists. I f the
Lexington PTA Scholarship Committee ceases to exist, the income
earned, the income so earned may be awarded in scholarships
designated by the Lexington High School Scholarship
Coordinators.
3. Recipients must be Lexington residents and graduates of
Lexington High School.
4. Scholarships are to be need based
5. One quarter fo the net income earned each year, and all capital
gains, shall be added to the principal.
6. I n any year, the Lexington P.T.A. Scholarship Committee may vote
to request that all income be transferrd to principal.
Very truly yours,
- 0-U , /. �Jo,
Richard L. Hale, President
Lexington High School, Class of 1954