1993-04-27-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 April 27, 1993 at 265 Franklin Street, Boston, Massachusetts. Present were Trustees Alan S. Fields, Thomas G. Taylor and David G. Williams. The minutes of the meeting of the October 21, 1992 meeting were approved. It was voted to approve the following transactions: January 1993 - Sale of 9 shares of Synopsys donated to the Lexington Education Fund. February 16, 1993 - Purchase of 300 shares of Mattel Incorporated. February 22, 1993 - Sale of 100 shares AT &T and 100 shares Caterpillar. February 11, 1993 - Purchase for Westview Cemetery Fund ( of $125,000 U.S. Treasury notes, 6% due 10/15/99. March.1, 1993 -- Purchase of $45,000 U.S. Treasury notes, 3.875% due 2/18/95 and $50,000 U.S. Treasury notes, 5.125% due 2/28/98. Noting the the yield in the Endowment Fund has been going down because of the lowering of interest rates, after a discussion, the Trustees agreed to increase the limit on the equity portion of the portfolio to not more than 50% of the portfolio value. It was voted to transfer $100 from the Albert Ball Tenny Fund to Boston Edison Company to light the Minuteman Statue. The Trustees voted the following scholarships to be awarded at the high school in the spring: Hallie C. Blake Fund -- two scholarships at $150 each French School Fund - one $100 scholarship Harrington Memorial Fund - three $400 scholarships Richard Isenberg Fund - one $500 scholarship Foster and Tenny Sherburne Fund - four $350 scholarships Borghesani Fund - one $500 scholarship