1991-11-01-TPT-min - Laserfiche WebLink

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Town of Lexington Trustees of Public Trusts Minutes of Meeting A meeting of the Trustees was held at 12:00 noon on November 1, 1991 at 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 July 23, 1991 were approved with the clarification that the $5,500 voted for the Lexington Human Services Fund was to be allocated $5,000 to the income account and $500 to the principal account. The Trustees approved the purchase for the Endowment Fund of 200 shares of Health Care Property Inv., Inc., 100 shares of H.J. Heinz Co., 100 shares of Royal Dutch Petroleum Company, and 150 shares of Tambrands, Inc. The purchase of 100 shares of American International Group, Inc. for the Westview Cemetery Fund was also approved. The report of the operation of the Lexington Human Services Fund for the period July 1, 1991 to September 30, 1991 was reviewed and approved. The Chairman read a letter from Lynne Wilson, Chairman of the Lincoln Park Committee requesting a donation of $1,000 for a sculpture /bench for Lincoln Park. It was voted to give the Committee $1,000 from the George Gilmore Fund. Trustee Williams did not vote since he is a member of the Lincoln Park Committee. The Committee reviewed its investment policy for the Endowment Fund and decided to increase the maximum percentage of equities to 30 %. The Chairman will instruct Shawmut Bank that custodian fees applicable to the Endowment Fund should be taken from the Westview Cemetery Fund in the future. A payment of $1,250 for services to Sheryl Mason for the second half of the calendar year was approved. The next meeting will be at the call of the Chairman. Thomas G. Taylor, c ecretary TAYT /Q09 11\11. 1 /,(.' 1dfy�,�,:,- i, L ,.e,1 ._ _.. (i)-{'-' 3 44, �d t ( j _,'- -t4` -F44, 1