The spendable income of the fund shall be used to award scholarships as follows:

• A minimum of a $4,000 undergraduate scholarship will be awarded annually to a student graduating from a high school in Bradford County and studying forest resources and conservation.
• A minimum of a $4,000 graduate scholarship will be awarded annually to a graduate student studying forest resources and conservation with first preference to students graduating from a high school in Bradford County and second preference to students graduating from a high school in Union, Baker, or Columbia counties.