Dennis and Mildred Boyd Scholarship

The net income realized from the operation of said farm real estate shall be used to provide an annual scholarship or financial assistance to worthy students of the College of Agriculture at the University of Illinois at Urbana, Illinois. In selecting said recipients, the Foundation shall consider the recommendations of a committee established by the Dean of that College for the purpose of considering applicants. In the event the Foundation, however, determines in any year that there is no worthy student applicant attending the College of Agriculture, said fund may be used to provide a scholarship or financial assistance for the current year to worthy students of the College of Education at the University of Illinois at Urbana, Illinois. In selecting said recipients, the Foundation shall consider the recommendations of a committee established by the Dean of that College for that purpose. It is the donor’s intention that the Foundation have broad discretion in determining the amounts to be awarded annually and the number and identity of recipients who are attending said colleges. After said scholarship program has been in existence for fifty years, the Foundation may, in its discretion, sell or dispose of said real estate, terminate the “Dennis and Mildred Boyd Scholarship” fund, and apply the proceeds to such needs of the University of Illinois at Urbana, Illinois, and the students thereof as said Foundation deems proper.