The historic Mormon Meteor III, a 1938-vintage race car created by speed-record setter Ab Jenkins, will be guaranteed its spot in the public eye for coming generations.

Jenkins' son on Friday signed a trust agreement with the state that ensures the car will remain on public display after it is restored at Dixie College in St. George."No one has been totally satisfied with the way the car has been displayed and where it is," Gov. Norm Bangerter said before signing the pact, which resolves a dispute between the state and the Jenkins family over control of the auto.

"At the beginning of negotiations, I didn't think we had a prayer of settling this thing on an amicable basis," said Marvin Jenkins, son of the famous race-car pioneer and one-time mayor of Salt Lake City.

He said the Jan. 25 signing of the agreement fell on his father's birthday.

The settlement also establishes a scholarship fund at Dixie College in the name of Ab Jenkins, who established 1,500 world and American speed records. He sold the Meteor to the state in 1943 for $1.

The agreement calls for the Utah State Historical Society to display the car in the Rio Grande Station in Salt Lake City. The title will reside with an unspecified trustee, said Jack Quintana, assistant director of the state office of Facilities, Construction and Management.

Up to $40,000 will be spent on legal fees, establishing the scholarship and the cost of restoring the vehicle to the condition it was at the time it was conditionally conveyed to the state, Quintana said.

The Jenkins family will provide the labor and expertise for the project and the Legislature will be asked to fund half of the $40,000. The balance would come from the lease of the Rio Grande Cafe.