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TOWN OF LEXINGTON <br />TRUSTEES OF PUBLIC TRUSTS <br />Minutes of Meeting <br />May 25, 1999 <br />A meeting of the Trustees was held at 7:45 P.M. at 1433 Massachusetts Ave., <br />Lexington. Present were Trustees Alan S. Fields, David G. Williams and Thomas G. <br />Taylor, and Secretary Tammy Wilson. <br />The minutes of the November 10, 1998 meeting were approved. <br />Alan distributed a copy of the Portfolio Report prepared by Harbor Capital <br />Management Company dated May 24,1999 and noted that the value of the Endowment <br />Fund at that date was $1,461,960. The Trustees discussed the current allocations of 12% <br />cash, 56% fixed income and 32% equities and decided that they were comfortable with <br />this at the present time. It was voted to approve the transactions in the Fund since the last <br />meeting as shown on the Report. <br />The Trustees voted to accept the following new funds, to be used in accordance <br />with the descriptions attached to these minutes: <br />Michael Wagner Technology Recognition Fund. <br />Christine Martin Memorial Scholarship Fund. <br />Heritage Scholarship Fund. <br />It was voted to transfer to the PTA Scholarship Fund the following amounts of <br />income from the following named scholarship funds: <br />Charles D. Aker 200 <br />Hallie Blake 230 <br />Robert P. Clapp <br />50 <br />Crocker Family <br />190 <br />Nan and Ray Culler <br />100 <br />Charles E. French <br />190 <br />Mary P. Grace <br />395 <br />Harrington Memorial <br />2125 <br />Heritage Scholarship <br />100 <br />Virginia Powers <br />525 <br />Schumacher <br />1400 <br />Sherburne <br />1200 <br />Mary Sorenson <br />250 <br />Ellen Stone <br />230 <br />Charles Lyman Weld <br />485 <br />total <br />7670 <br />