1994-06-02-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 June 2, 1994 at 125 High Street, Boston, Massachusetts. Present were Trustees Alan S. Fields, Thomas G. Taylor and David G. Williams, and Sheryl Mason. The minutes for the meeting of February 10, 1994 were reviewed and approved. It was voted to approve the sales and purchases of securities as described in letters dated March 10 and May 23, 1994 from Shawmut Investment Advisors, attached to and made a part of these minutes. The chairman reported that the proportion of equities in the Endowment Fund has reached 40 %. The chairman read a letter from the Lexington Council on Aging asking for support for the Property Tax Work -Off Program developed by the COA and the Town. The COA is attempting to establish a fund of $5,000 to get the program going. After thorough review, it was decided that this endeavor was not appropriate for the trustees at the present time, and the chairman was asked to so notify the COA. The chairman reported on receipt on April 1, of a letter from Susan Rockwell, President of the Lexington Historical Society. The Society is attempting to raise funds for major capital repairs for the various historic houses in Lexington. Ms. Rockwell was told that we do not have funds that would be available for such an effort, but suggested that the Society seek community help through a fund - raising effort. A letter was received from Lynn Wilson of the Lincoln Park Committee requesting a grant for the completion of the boardwalk and increasing the maintenance Endowment Fund for the Lee Fitness Nature Path. It was voted to contribute $3,000 from the George Gilmore Fund. A letter was received from the Lexington Council on Aging requesting that the income be transferred annually to principal in the Friends of the Lexington Council on Aging Fund. The trustees reviewed a grant application to the Chiles Foundation prepared by Gus Schumacher in an attempt to get a grant for the Mary and August Schumacher fund.