HomeMy WebLinkAbout1991-02-28-TPT-minTown of Lexington
Trustees of Public Trusts
Minutes of Meeting
The meeting of the Trustees was held at 12:00 noon on
February 28, 1991 at 265 Franklin Street, Boston, Massachusett3.
Present were Trustees Alan S. Fields, Thomas G. Taylor and David
G. Williams.
The minutes of the meeting of December 13, 1990 were read and
accepted.
The Trustees voted to recommend that the Town turn over the
principal and all accrued interest as of the end of the current
municipal fiscal year of the Charles Lyman Weld Fund to the
Lexington Educational Foundation, the principal to be held as an
endowment fund, and the accrued interest to be available for use
for grants.
It was voted to approve the purchase of the following
equities in the Endowment Fund:
200 shares Coca Cola
100 shares Johnson & Johnson
100 shares Schlumberger
It was voted to accept the Anne E. Borghesani Memorial Fund
as part of the Endowment Fund. The terms upon which this Fund
are to be held are spelled out in a letter dated January 16,
1991, a copy of which is attached to and made a part of these
minutes.
It was voted to establish a minimum size of $5,000 for funds
which will be accepted by the Trustees for inclusion in the
Endowment Fund operated by the Trustees.
The Trustees received and reviewed a report from Steven
Baran, Human Services Coordinator, showing income and
expenditures from the Lexington Human Services Fund for the
period July 1, 1990 through December 31, 1990.
There was a discussion of the Westview Cemetery Fund which
has accumulated income of approximately $300,000 as of January
31, 1991. Alan Fields is to speak to Rick White about the use of
this money by the Town in the coming year.
NEXT MEETING: APRIL 12, 1991 AT 12:00 NOON AT 265 FRANKLIN
STREET, BOSTON, MA.
Tt-v‘ • A.1
Thomas G. Tayl Secretary
TAYT /QO9