The John F. Kennedy Memorial Trust Fund Committee has broad general powers to use the income and principal received by the trust at their discretion in the field of youth activities within the Town. The Committee may make recommendations to the Town Manager regarding the establishment and maintenance of youth activities programs it fosters and the Kennedy Memorial. The Committee may grant scholarships to Barnstable High School graduates. The Committee acts pursuant to the Acts of 1971, Chapter 34. The funds shall be invested in the manner provided by MGL Chapter 44, 54, and in further accordance with the trust policy of the Town.