(a) There is hereby established the Caroline Felicia Adams Aviation Scholarship to be awarded annually to one Virgin Islands high school graduate who is planning to attend college and pursue a degree in the aviation field.
(b) The Caroline Felicia Adams Aviation Scholarship shall be administered by the Virgin Islands Board of Education. Applicants for said scholarship shall apply to the Board of Education pursuant to rules and regulations established by the Board. The Board upon review of all applicants shall select the recipient of the scholarship.
(c) The Caroline Felicia Adams Aviation Scholarship shall be for eight (8) semesters at $2,000 per semester.
(d) All funds appropriated for the Caroline Felicia Adams Aviation Scholarship shall be appropriated to the Board of Education and administered by the Board of Education for the purposes of this section.