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{ <br />Town of Lexington <br />Trustees of Public Trusts <br />Minutes of Meeting <br />A meeting of the Trustees was held at 12:00 noon on <br />February 10, 1994 at 265 Franklin Street, Boston, Massachusetts. <br />Present were Trustees Alan S. Fields, Thomas G. Taylor and David <br />G. Williams. <br />The minutes of the meeting of the October 14, 1993 meeting,, <br />were reviewed and approved. <br />It was voted to approve the sales and purchases of securities <br />in the Westview Cemetery Fund, the Monroe Cemetery Fund and the <br />Endowment Fund as described in letters from Shawmut Investment <br />Advisors dated January 3, 1994, attached to and made a part of <br />these minutes. <br />The Chairman reported that the proportion of equities in the <br />Endowment Fund has reached 35 %. <br />Letters were received by the Chairman from Richard Spiers <br />regarding improvements at Westview Cemetery and asking for funds <br />for various projects. It was decided to try again to explain to <br />various town officials that the trustees only manage the <br />investment of the funds, and have no authority to decide how the <br />funds are spent. Mr. Spiers stated that 55% of the proceeds from <br />sale of graves goes into the Westview Cemetery Fund. Since the <br />trustees have not seen any additions from that source, the <br />Chairman was directed to find out what really happens to that <br />money. <br />The trustees voted to make available for scholarships the <br />following amounts from the following funds: <br />French School $ 200.00 <br />Harrington Memorial $2,000.00 <br />Isenberg $ 500.00 <br />Hallie C. Blake $ 400.00 <br />Foster and Tenny Sherburne $1,600.00 <br />Schumacher $1,400.00 <br />It was noted that the Bridge Charitable Fund has an income <br />balance of almost $6,600.00. The trustees felt that at least <br />$3,000.00 from this fund should be spent in town and the Chairman <br />was asked to talk to Steve Baran to find out what the needs for <br />funds are in addition to those funded by the Human Services <br />Funded. <br />The next meeting will be held on June 2, 1994 at 12:00 noon <br />at the office of Alan S. Fields. <br />TAYT /CB9 <br />Respectfully submitted, <br />Thomas G. Taylor, <br />tary <br />