HomeMy WebLinkAbout1990-05-24-TPT-minr.
Town of Lexington
Trustees of Public Trusts
Minutes of Meeting
e.
The meeting of the Trustees of Public Trusts was held at
12:00 noon on May 24, 1990 at 265 Franklin Street, Boston,
Massachusetts. Present were Trustees Alan S. Fields, Chairman,
Thomas G. Taylor and David G. Williams. Also present were former
Trustee John R. Packard and Sheryl Mason.
It was voted that the Trustees engage Shawmut Bank, N.A., as
its Custodian substantially in accordance with the Letter of
Instructions submitted to (and made a part of the records of)
this meeting, and that the execution of such Letter by Alan S.
Fields, Chairman, is hereby authorized, such execution to
constitute identification of the instrument executed as being in
the form authorized by this vote. It was also voted to authorize
Shawmut Bank, N.A. to use its nominee in the registration of our
securities.
It was voted to pay the following amounts from the following
funds to be used for scholarships to be presented on the high
school awards night June 7, 1990:
$1500.00
$ 100.00
$ 400.00
$ 500.00
$1200.00
- Harrington Memorial Fund.
- Charles E. French Medal Fund
-- Hallie C. Blake Fund
- Richard Eisenberg Scholarship Fund
- F. Foster Sherbourne &
Tenney Sherbourne Fund
It was voted to pay Boston Edison Company $200 from the
Albert Ball Tenney Memorial Fund for lighting costs.
It was voted to award $3,000 from the Mary & August
Schumacher Trust Fund for additional scholarships.
It was voted to provide $80 for moving expenses for Mrs.
Nadina Ott from the Bridge Charitable Fund.
It was voted to pay $240 to Dianne Miksenas from the Bridge
Charitable Fund.
It was voted to pay $400 from the Beals Fund for Thomas
McKinnon.
It was voted to pay $10 from the Westview Cemetery Fund and
$349 from the Monroe Cemetery Fund for flowers.
It was voted to approve the Statement of Investment
Objectives in the form attached to the minutes of this meeting,
and to proceed to develop an investment program consistent with
the Statement.
It was voted to sell all of the shares of Bank of New England
and Shawmut Bank, and 500 shares of State Street Bank
Corporation.
It was voted to pay Sheryl Mason $1250 from the Westview
Cemetery Fund for services for the previous six months.
It was voted to pay out the balance of the Matthew Arnold
Fund to the school department, and close out this account.
The Trustees recognized the long and valuable service of
former Trustee John Packard by presenting to him an engraved
Revere bowl.
The meeting was adjourned at 2 :00 p.m.
TAYT /QO9
Thomas G. Taylor, cretary