HomeMy WebLinkAbout1992-05-20-TPT-minTown of Lexington
Trustees of Public Trusts
Minutes of Meeting
A meeting of the Trustees was held at 12:00 noon on May '20,
1992 at 265 Franklin Street, Boston, Massachusetts. Present were
Trustees Alan S. Fields, Thomas G. Taylor and David G. Williams, and
Sheryl Mason.
The minutes of the March 4, 1992 meeting were approved with
additions, which are attached.
The Chairman noted the receipt of a recommendation from the
Park and Tree Superintendent, supported by the Director of Pubic
Works /Engineering, of the acceptance of a proposal for the treatment
of the Minuteman Statue. The cost of the work will be $4,276, and
it was voted to fund this proposal by payment from the following
funds in the Endowment Fund:
Orin W. Fiske Fund
Albert Tenney Memorial Fund ---
George Gilmore Fund
$ 500
$2,500
$1,276
It was noted that the various funds available for maintenance
of the Statue and the Battle Green have been depleted, and it was
decided that the chairman would write a letter or article for the
Minuteman, after the work on the Statue is completed, alerting the
public to the depleted state of the funds and suggesting donations
to these funds.
The following portfolio transactions since the last meeting
were approved.
Sale in the Endowment Fund of $25,000 U.S. Treasury Notes 8 1/2
due 5/15/95.
Sale in the Westview Cemetery Fund of $50,000 Federal Home Loan
Bank 10.7 due 1/25/93.
It was voted to transfer the remaining balances in the Matthew
Allen Memorial Fund (principal ---- $20, income $2.00) to the
Harrington Memorial Fund, which has similar purposes as the Allen
Fund. Trustee Williams tried to research the history of the Allen
Fund but could find nothing, and it is impractical continue to hold
separately such a small fund.
The Trustees reviewed the third quarter report of the Human
Services Fund and it was decided to invite Stephen Baran to the next
Trustees meeting. It was decided to suggest to the Human Services
Committee that the payment of $5,000 annually into a Human Services
Fund can not be maintained indefinitely, and the committee should be
encouraged to become more self- supporting through fund-raising
efforts.
It was voted to pay Sheryl Mason $1,250 out of the Westview
Cemetery Fund for her services through June 30, 1992.
The next meeting will be at the call of the chairman.
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Thomas G. Taylor, S- tary
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