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Clarke County board adopts resolution terminating legacy trust to create $1,000 annual scholarship
Summary
The Clarke County School Board adopted a resolution terminating a trust established in the will of Curtis Kradler and converting its assets into a $1,000 annual scholarship for Clarke County High School; trustees and the board's attorney finalized the termination agreement.
The Clarke County School Board on an unspecified date adopted a resolution terminating a trust established in the will of Curtis Kradler and converting its assets into a $1,000 annual scholarship for Clarke County High School.
Board members were told the trust was established under the will of Curtis Kradler, who died Nov. 19, 1995, as a resident of Franklin County, Pennsylvania. The will named Berryville High School — identified at the meeting as the school now called Clarke County High School — as a beneficiary. The trustees and the school board's attorney finalized a trust-termination agreement that the board was asked to approve.
The termination will allow Clarke County High School to award a $1,000 annual scholarship to be known in the meeting record as the C. James Cradler/Jady Payne Kradler scholarship (the transcript records variant spellings of the name). “I apologize if for mispronouncing it,” a staff member said during the presentation.
A board member asked, “Are there any parameters around the the scholarship itself? Will there be a board that will be selecting the student, recipient, or anything like that?” A staff member replied, “Most have a panel, which would be like that. So what we would do is align with whatever the attorneys decide. If there is no guidelines, then we would get a a committee to recommend that. But we would go if there were, guidelines on the initial trust for the loan piece, we would use the same ones.”
According to material presented to the board, the trust originally had been structured to provide $1,000 interest-free loans toward college, with schools expected to seek repayment to continue funding; meeting presenters said that arrangement proved administratively difficult and that the trustees and attorneys negotiated the conversion to a scholarship.
The board adopted the resolution by voice vote; no roll-call tally was recorded in the meeting transcript provided. The trustees working with the school board’s attorney will finalize guidelines and selection procedures, the board said. Further implementation details, including the scholarship’s formal name spelling and any selection criteria, were not specified in the record.
The board did not specify an effective date for the scholarship award or when the first award will be made.
