Question: On July 1 , 2 0 1 9 , the Morgan County School District received a $ 6 0 , 0 0 0 gift from

On July

1, 2019,

the Morgan County School District received a $

60, 000

gift from a local civic organization with the stipulation that, on June

30

of each year, $

4, 500

plus any interest earnings on the unspent principal be awarded as a college scholarship to the high school graduate with the highest academic average. A private

-

purpose trust fund, the Civic Scholarship Fund, was created.

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