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TOWN OF LEXINGTON TRUSTEES OF PUBLIC TRUSTS Minutes of Meeting of November 5, 2013 The meeting was held at 7:30 pm at the home of Alan Fields at 42 Adams Street, Lexington, MA.. >= Investment Committee member Adrian Jackson joined Trustees Alan Fields, David Williams and:Susan McClements at the meeting. Minutes from the Trustees May 10, 2013, meeting were unanimously approved. David Williams told McCue Florists that the Trustees would like them to do the barrel plantings in Lexington Center again this year. McCue quoted $6,150. Alan Fields agreed to ask the Fund for Lexington for the funds at their next meeting. David shared a brief discussion he had with Town Manager Carl Valente about funding a brochure for a Historical Preservation conference. David indicated to Carl that funds for that purpose were not available. David reported that the ACROSS Lexington Fund now has $15,700. Progress is being made on plans for a small park at Mass Ave between the buildings located at the site of the former driveway to the public parking lot. The Economic Development Officer for the town is working with a Somerville firm, Grandview Landscaping, on a plan for the space. David shared a thank you note from Sam Doran for funding the grave markers and tombstone replacement, Following discussion the Trustees voted unanimously to raise the minimum amount required to establish a fund from $5,000 to $10,000. Cynthia Savage on behalf of the Millennium Arts Fund requested that terms of that Fund be revised as specified in her attached memorandum. The Trustees unanimously approved the requested revisions. Lexington Arts & Crafts Society requested $750 to fund the State of Clay exhibit. This is the fourth such request to help fund this exhibit. After some discussion, the Trustees unanimously approved $750 funding from the Gilmore Fund. David reported that fundraising was going well for a scholarship fund in memory of former Iong time Lexington High Latin teacher, Doctor Fivash, The Trustees briefly discussed a letter to the Minuteman Newspaper from resident Pamela Lyons. Alan-will place.a- follow --up- phone- sail -#o P -ameia The Trustees discussed arranging a meeting with counterparts in Arlington (Steve Gilligan is contact) and Concord (Tony Logalbo is contact). David has contacted Arlington and Alan will follow up with Concord. Alan and Adrian reported that the Investment Committee has met and drafted an Investment Policy statement. After some discussion and review, the Trustees voted to adopt the Investment Policy statement as attached. Alan reviewed the performance of the Funds for the Trustees. Year to date the Funds are performing well relative to the benchmarks. YTD performance is 7.15% as of 9/30/13 with an Annualized Yield of 2.4 %.