1995-09-21-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 September 21, 1995 at the office of Alan Fields at 125 High Street, Boston, Massachusetts. Present were Trustees Alan S. Fields, David G. Willliams and Thomas G. Taylor, and Secretary Sheryl Mason. The minutes of the meeting of April 4, 1995 were reviewed and approved. Three scholarship funds from the Outlook Club were turned over to the Trustees on May 30, 1995. The separate funds are the Bessie and Gabriel Baker Fund (approx. $8571); the Lexington Outlook Scholarship Fund (approx. $12325); and the Maxine Warnecke Fund (approx. $179500). The Trustees voted to accept these funds. The Trustees also voted to accept the Sevag Yazijian Memorial Scholarship Fund of $5000. It was voted to approve the sales and purchases of securities described in letters dated May 12, 1995, June 20, 1995, and July 24, 1995 from Shawmut Bank. It was voted to approve the payment on June 6, 1995 of $1250 to Sheryl Mason for secretarial services. Following a review of the Endowment Fund and the needs for growth and regular disbursement in the various funds, it was decided to change the investment guideline to allow investment in equities of up to 50% of the Fund. It was voted to transfer $3000 from the Bridge Charitable Fund to the Lexington Human Services Fund to be disbursed by the Human Services Coordinator in the usual manner. $1200 is to take n from the George Gilmore Fund to be used for improvements around the Minuteman Statue. The next meeting will be at the call of the Chairman. Thomas G. Taylor, Secy.