HomeMy WebLinkAbout1993-10-14-TPT-minTown of Lexington
Trustees of Public Trusts
Minutes of Meeting
A meeting of the Trustees was held at 12:00 noon on
October 14, 1993 at 265 Franklin Street, Boston, Massachusetts.;_:;
Present were Trustees Alan S. Fields, Thomas G. Taylor and David
G. Williams. Also present was Sheryl Mason.
The minutes of the meeting of the April 27, 1993 meeting were
approved with one addition with respect to the Richard Isenberg
Fund. It was also voted to transfer to principal each year 25%
of the income balance as of the close of each calendar year.
It was voted to approve the following transactions:
Sold:
6/23/93 - 25,000.00 U.S. Treasury Notes, 6 %, 11/15/94 at
$25,695.31.
6/24/93 - 10,000 U.S. Treasury Notes, 6 %, 11/15/94 at
$10,281.25.
Purchased:
5/04/93 -
$54.75.
5/04/93 -
5/04/93
100 shares Thermo Electron Corporation at
100 shares Texaco Incorporated at $62.50.
- 200 shares First Union Corporation at $43.875.
The Trustees approved a request by Mr. Penta that the
principal and interest of the Dorothea Schmidt -Penta Memorial
Scholarship Fund be accumulated until the fund reaches a value of
$5,000.00.
The Trustees voted to accept the following new endowment
funds:
The Gordon /Souza Juniper Hill Fund to be held pursuant
to the terms of a letter from Mr. Gordon dated June
1993.
Bettie Clarke Scholarship Fund pursuant to the terms of
a letter dated June 18, 1993 from her husband and
children.
The Jacquelyn R. Smith Memorial Internship Fund pursuant
to the terms of a letter dated June 16, 1993 from
Francis W. K. Smith
The Trustees noted the receipt of a letter from the
Conservation Commission changing the terms of the Lexington
Nature Trust Fund.
A request from the Lexington Field and Garden Club, Inc. was
approved by a vote of 2 to 1 for payment of the income balance in
the George O. Smith Fund ($129.50) and the Emery Park Fund
($323.71), being the income balances as of June 30, 1993.
A request for $1,000.00 from the Massachusetts Special
Olympics Committee was not approved.
The following funds have requested that 25% of the income be
added to principal each year:
August and Mary Shumacher Scholarship Fund
American Legion Celebration Fund ex.
The Trustees approved the payment to Sheryl Mason of $1250.00
for her services for the second half of the calendar year.
The next meeting of the Trustees will be held February 10,
1994 at 12:00 noon at 265 Franklin Street.
The meeting was adjourned at 12:15 p.m.
Respectfully submitted,
J
Thomas G. Taylor 4.ecretary
TAYT /CB9