(a) There is established the Trevor Nicholas “Nick” Friday Scholarship Fund that shall be administered by the Board of Education for the purpose of providing scholarship grants to one student from the Ivanna Eudora Kean High School and one student from the Charlotte Amalie High School pursuing studies in music.
(b) The Board of Education shall adopt rules governing the applications, granting of scholarships, and eligibility requirements, except that only applicants maintaining a 2.5 grade average shall be eligible for a scholarship award under this section.
(c) Scholarships granted under this section may not exceed $5,000 per school year and the sum granted must be applied to the payment of tuition, lodging, board, books, supplies, transportation and other related expenses in connection with the study of music.
(d) A student receiving a scholarship under this section shall sign a contract committing himself/herself to return to the Virgin Islands upon completion of his/her course of study and work in the Virgin Islands in the field of music or related field. A student who fails to comply with this provision shall be liable to the Government of the Virgin Islands for the amount of the scholarship received plus ten percent of the total amount of the scholarship.
(e) The sum of $10,000 shall be appropriated during each fiscal year for deposit in the Trevor Nicholas “Nick” Friday Scholarship Fund. Upon appropriation of the funds, the sums shall remain available until expended.
(f) This award must be presented at the awards ceremony for each school by the Board of Education or a duly authorized representative.