HomeMy WebLinkAbout1994-06-02-TPT-minTown of Lexington
Trustees of Public Trusts
Minutes of Meeting
A meeting of the Trustees was held at 12:00 noon on June 2,
1994 at 125 High Street, Boston, Massachusetts. Present were
Trustees Alan S. Fields, Thomas G. Taylor and David G. Williams,
and Sheryl Mason.
The minutes for the meeting of February 10, 1994 were
reviewed and approved.
It was voted to approve the sales and purchases of securities
as described in letters dated March 10 and May 23, 1994 from
Shawmut Investment Advisors, attached to and made a part of these
minutes. The chairman reported that the proportion of equities
in the Endowment Fund has reached 40 %.
The chairman read a letter from the Lexington Council on
Aging asking for support for the Property Tax Work -Off Program
developed by the COA and the Town. The COA is attempting to
establish a fund of $5,000 to get the program going. After
thorough review, it was decided that this endeavor was not
appropriate for the trustees at the present time, and the
chairman was asked to so notify the COA.
The chairman reported on receipt on April 1, of a letter from
Susan Rockwell, President of the Lexington Historical Society.
The Society is attempting to raise funds for major capital
repairs for the various historic houses in Lexington. Ms.
Rockwell was told that we do not have funds that would be
available for such an effort, but suggested that the Society seek
community help through a fund - raising effort.
A letter was received from Lynn Wilson of the Lincoln Park
Committee requesting a grant for the completion of the boardwalk
and increasing the maintenance Endowment Fund for the Lee Fitness
Nature Path. It was voted to contribute $3,000 from the George
Gilmore Fund.
A letter was received from the Lexington Council on Aging
requesting that the income be transferred annually to principal
in the Friends of the Lexington Council on Aging Fund.
The trustees reviewed a grant application to the Chiles
Foundation prepared by Gus Schumacher in an attempt to get a
grant for the Mary and August Schumacher fund.
At the suggestion of David Williams, the chairman will raise
with the Board of the Lexington Education Foundation the
possibility of returning to the trustees the approximately
$11,000 transferred to the LEF Fund from the Weld Fund. The Weld
Fund was transferred to LEF by town meeting vote to be used as
seed money, and since this function has been accomplished, a
return of the money to the trustees for the re- establishment of
the Weld might be in order.
It was voted to pay Sheryl Mason $1,250 for the one -half year
ending June 30, 1994 from the Westview Cemetery Fund.
The next meeting will be held on October 20, 1994 at
12:00 noon at the office of Alan S. Fields at 125 High Street,
Boston, MA.
Respectfully submitted,
,a,==•■•••■••■$
Thomas G. Taylor,
T?YT /CB9
ary