HomeMy WebLinkAbout2000-04-TPT-Lex Police111
Mr. Alan Field, Chairman
Trustees of the Public Trust
Town of Lexington
1625 Massachusetts Ave.
Lexington, MA 02420
Dear Mr. Field,
This letter is to set forth the terms under which the Trustees of the Public trusts agree to
hold the trust fund to be known as the Lexington Police Betterment Association
Scholarship Fund,
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 incomes earned each year b� the fund shall be paid out in
scholarship(s) awarded by the Lexington P.T.A. Council Scholarship Committee
as long as such cc>mmittcc exists, rf the . Uxington PTA, Council Scholarship
Co mmit tee ceases to exist, the income so earned may be awarded in scholarships
designated by the Lexington high School Scholarship Coordinator,
3. Scholarships are to be need based,
4. One quarter of the net income earned each year, and'all capital gains, shall be
added to principal.
S, Additional donations may be directed to either or both principal or income at any
time.
J G. Lattiff