1990-12-13-TPT-min - Laserfiche WebLink

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Town of Lexington Trustees of Public Trusts Minutes of Meeting The meeting was held at 12 :00 noon on December 13, 1990 265 Franklin Street, Boston, Massachusetts. Present were,' Trustees Alan S. Fields, Thomas G. Taylor and David G. Williams, and Sheryl Mason. The minutes of the meeting of August 23, 1990 were read and accepted. The Quarterly Report prepared by Steve Baran on the activity in the Lexington Human Services Fund was reviewed and approved. The Trustees approved purchase on November 19, 1990 of $40,000 U.S. Treasury Notes in the Munroe Cemetery Fund. The Trustees reviewed the fund statements from Shawmut Bank. Since there is approximately $31,000.00 of unspent income in the Tower Fund, the Trustees will tell the Town Manager to allocate maintenance expenses for Tower Park in such a way that the income from the fund can be used for these purposes as in the past. There was a discussion of investment of a portion of Consolidated Fund in equities. It was decided that the goal would be to invest between 10 and 20 percent of this fund in equities. It is a good time to do this because of the ability to sell some bonds at a premium over face value. Payment of salary and expenses to Sheryl Mason was approved. The meeting was adjourned at 2:00 p.m. Thomas G. Taylor, TAYT /Q09 tary