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RESOLUTION <br />• City College Scholarship Fund <br />BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that: <br />(1) The sum of $250,000.00 is hereby transferred from the Capital Fund to the <br />Charlottesville -Albemarle Community Foundation for the purpose of establishing a college <br />scholarship fund for low and moderate income students; <br />(2) The eligibility criteria for recipients of the Public Schools Scholarship funds, as set <br />forth below, are hereby approved: <br />a. <br />Student must be a City resident. <br />b. <br />Student must be a graduating senior or graduate from the Charlottesville Public <br />Schools. <br />C. <br />Student must be accepted at an accredited two or four year college or technical <br />school in the United States. <br />d. <br />Student must complete a financial aid package that shows financial need and <br />receive an award letter detailing the amount of financial aid that the applicant is <br />eligible to receive, and the Board of the Public Schools Scholarship may request <br />additional financial information from applicants. <br />• e. <br />Student must be a citizen of the United States, or hold a permanent resident visa. <br />f <br />For grants to continue from year to year, students must participate in an <br />appropriate mentoring program adopted by the Charlottesville -Albemarle <br />Community Foundation. <br />(3) The Proposal dated 10/27/00 and entitled "The Charlottesville Public Schools <br />Scholarship Proposal", attached hereto, is hereby accepted and approved by this Council. <br />(4) Scholarship fund awards under this program shall not commence until the total <br />scholarship endowment reaches at least $500,000. <br />Approved by Council <br />December 4, 2000 <br />i <br />1 rk of City Council <br />0 <br />