2019-05-28-TPT-min - Laserfiche WebLink

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TOWN OF LEXINGTON TRUSTEES OF PUBLIC TRUSTS Z51 SEP 26 F'H p 17- 08 Minutes of Meeting of May 28, 2019 The meeting was held at 7,00 pm at the Inn at Hastings Park at 2027 Massachusetts Avenue, Lexington, MA. Trustees Alan Fields, David Williams and Susan McClements were present. Investment Committee members Adrian Jackson and Patrick Morin were also in attendance. Minutes from the January 15,2019 meeting were unanimously approved by the Trustees. The terms of the Artis Benevolent Fund where unanimously approved by the Trustees and forwarded to the Select Board for acceptance. The terms of the Brian Michael Addley Fund have been accepted by the Select Board and were unanimously ratified by the Trustees.The initial fund balance is$20K. The Trustees received notice in 2018 from the administrator for the estate of August Schumacher that Mr. Schumacher left a bequest to the Mary and August Schumacher Scholarship Fund.David Williams reported that the amount of the bequest is$22,500. David Williams also reported that flowers placed on graves at Westview Cemetery by the terms of the Hilton Family Fund will now be placed on graves annually on Memorial Day by Wilson Farms when it is placing flowers on other graves. David reported that the Alan S. Fields Community Enrichment Fund has a balance of over $60K. A bas-relief sculpture,a gift of the Class of 1901 from the Hancock School,was discovered in disrepair in the attic of a Lexington home. The sculpture was restored in part through a donation from the George Gilmore Fund. David reports that the restoration came out well and that the sculpture is now located at the Lexington Community Center. The Friends of the Bikeway asked permission from the Trustees to reallocate remaining funds originally distributed to them from the Jack Eddison Blossom Fund for the pocket park near Grant Street on the Bikeway and events connected with the 251h Anniversary of the Jack Eddison bikeway. After some discussion,the Trustees agreed that the proposed reallocation to help fund a memorial bench for a specific individual was beyond the purpose of the Jack Eddison Blossom Fund.The Trustees will request that the Friends of the Bikeway return the balance of the funds not expended on the pocket park and anniversary celebration. The Trustees unanimously approved the disbursement of scholarship funds to the 2019 scholarship recipients.