The City Council of the City of Meriden shall
designate a bank or trust company as trustee to administer the bequest
of $50,000 to the City of Meriden under the will of Clarence P. Bradley.
Said trustee shall make an annual report of the condition, receipts
and disbursements of said fund to the City Council and to the Probate
Court for the district of Meriden.
The City of Meriden is authorized to establish
an annual four-year scholarship for a Meriden boy or girl who is eligible
for a college education, the college to be chosen by the recipient
of such scholarship, such scholarship to be in memory of United States
Senator Francis T. Maloney and to be known as the "Francis T. Maloney
Scholarship."
The City Council shall appoint a committee of
five members, to be known as the "Francis T. Maloney Scholarship Committee"
which shall select each year the boy or girl who is to receive such
scholarship. It is further provided that those Committee members who
are serving on the Committee upon the effective date of this Charter
shall retain their positions for the terms to which they were appointed,
and, upon the expiration thereof, the City Council shall appoint a
successor to serve for a term of three years. Any vacancy in such
Committee shall be filled by appointment by the City Council.
The City of Meriden, in a manner not inconsistent
with this Charter, is authorized to appropriate such sums of money,
on an annual basis, as it may deem advisable.