HomeMy WebLinkAbout1998-11-10-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting
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A meeting of the 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 Mason and new Secretary Tammy Wilson.
Tammy Wilson was welcomed as the new Secretary for the Trustees and retiring
Secretary Sheryl Mason was presented with a mirror in appreciation for her many years of
service.
The minutes of the March 10, 1998 meeting were approved with the addition that
the Lexington Field and Garden Club requested that 50% of the income of the Smith and
Emery funds be paid to the Club annually on or about July 1.
Alan distributed a copy of the Portfolio Report prepared by Harbor Capital
Management Company dated October 31, 1998 for the Endowment Fund and noted that
the value of the Fund at October 30 was $1,347,982. The total return through that date
was 10.2 %. It was voted to approve the transactions in the Fund since the last meeting as
shown on the Report.
It was voted to approve purchases in the Westview Cemetery Fund and the
Munroe Cemetery Fund as shown in a letter from Fleet Bank dated June 23, 1998.
It was voted to give $1000 to the Foss family fund from the Bridge Charitable
Fund.
The Trustees voted to accept the following new funds, to be used in accordance
with the descriptions attached to these minutes:
Charles D. Aker Family Scholarship Fund
Nan and Raymond Culler Scholarship Fund
Dunback Meadow Conservation Fund
Hayden Woods Conservation Fund
Dan H. Fenn, Jr. Lexington Minuteman Grant Award Fund
It was voted to approve the money spent from the Gilmore and Eddison Funds
during the summer for the flower barrels in the center of town, and it was voted to buy
eight new barrels for next summer.
It was voted to transfer income from the Gilmore Fund in the amount of $1312.70
to add to the Crocker Family Scholarship Fund and in the amount of $1334.20 to add to
the Charles E. French Scholarship Fund.
It was voted to pay Sheryl and Tammy for services in the usual amounts.
Next meeting April 15, 1999 -- place to be determined.
Tom Taylor