HomeMy WebLinkAbout1997-04-30-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting of April 30, 1997
A meeting of tt a Trustees was held at 8:00 P.M. at 10 Marshall Road, Lexington.
Present were Trustees Alan S. Fields, David G. Williams and Thomas G. Taylor, and
Secretary Sheryl 11 iason.
The minutes of the February 11, 1997 meeting were reviewed and approved with
the addition that 25% of the income each year of the Mickey Finn Memorial Scholarship
Fund is to be added to principal.
It was voted to approve the sales and purchases of securities on February 12 and
April 17, 1997 des':ribed in letters dated February 20 and April 24, 1997 from Fleet Bank.
The payment to Sheryl Mason of$1250 in June for services was approved.
David Williams reported that the Trustees are one of the beneficiaries of the will of
Mary Grace. We might get $40,000 for scholarships. He also reported that a grant from
the Chiles Foundation for the Schumacher Fund was approved.
The Truswes voted to make available
the following funds:
Schumacher Trust Fund
Virginia M. Powers
Harrington Memorial
F. Foster Sherburne
Charles jgyman Weld
Richard Isenberg
Ellen A. Stone
PTA
Sangwook Ahn
Bessie & Gabriel Baker
Hallie C. Blake
Srinivasa Meka
Borghesani
Bette Clarke
June Denk
Mickey Finn
Outlook Club
McCabe
Warneke
Yazijian
Except where noted, these amounts
for scholarships the following amounts from
$1400
$400
$2900
$2000
$400
$400
$1000
income as requested
$400
$500
$400
$500
$800
$500
$300
$2Sefrom principal
$1000 from principal
$1000
$7200
$200
are to be taken from the income account of each fund
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even if this results in a negative balance.
The Selectmen have requested two $100 savings bonds for the Charles Ferguson
Youth Recognition awards at a cost of $50 each.
In response to a request from Dan Fenn, the Trustees voted to give $1000 to the
Lexfest program from the George Gilmore Fund. The Trustees also voted $1 000 to the
Lexington Lights Center Field project from the George Gilmore Fund.
Alan Fields offered to put our portfolio on a portfolio management system at his
office so we can determine its performance.
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The Trustees voted to accept the Ellalou Dimmock Ilessognition.Fund, subject to
acceptance by the Selectmen.
Next meeting: September 11, 1997 at 8 :00 P. M. at the home of David
Williams.
Thomas G. Taylor, Secretary