HomeMy WebLinkAbout1998-03-10-TPT-minTOWN OF LIB XINUTUN
TRUSTEES U1~' PUBLIC: 'TRUS'TS
Minutes ot' Meeting oT March 10. 1998
A meeting ot Trustees was field at 7:30 P-M_ at 64 Marren l "oad_ Le., inGton.
Present were Trustees Alan S. Etelds. David G. Williams and Thomas U. 'Taylor. and
Secretary Sheryl Mason.
The minutes of the April M, 1997 were apnroved with the tbilowing corrections to
the paraffraph on scholarstups: Charles Lyman Weld: the Mickey -Finn 1 gave °S 150.
In the last naraarat)h_ the name of Ellalou Dimmock Recognition Fund has been
chanted to the Elfalou Dunniock Prize for Vocal Excellence tr'und.
The 'TiListees voted to approve the gitt on May 2. 1997 to the Lexinffton Center
Field Lights oroiect ofS1000 ti the George Gilmore Fund.
It was noted that a report itottl Steve Baran was received July L 1997 showing the
income and expenditures ot*the human Services Fund for fiscal '97.
It was voted to accept the Genesis Conmutnity Etind on the terms described In a
letter dated October 20. 1997 ftom Robert ,l. Burbridge_ The initial balance was
56200.00.
Pursuant to a reciuest trom Steve Baran dated -Februaiv 26. 1998- it was voted to
transtor S3000 to the Hunlan Services Fund for fiscal 1998 ttonl the Bridge Charitable
Fund.
The Ti voted to approve the sales and purchases ot'securittes described in
letters ti Fleet Bank- dated July IT August 21. October 21. October 27_ November IT
1997 and January 16.14ebrualy 27. and March 4. 1998.
The 'Trustees reviewed a Porttiho Report for the Endowment Yund for the Deriod
4130/97 to 3/9/98. It showed a cumulative return oT 17.6% for the total tiind_ with a
return ot / on the e(n11tV portion and 7.8 11 1/0 on the tired Income Uortion.
It was voted to approve the payment of 57500 to the Lexlnr? ton Historical
Commission_ being the final installment nt 3 tnfif cnt77tttitim -nt rNF ;OOO Tht- ( rwntnioc%ri
received a matching Grant ftom the Massachusetts Ihstorlcal C_.ornnusslon to upgrade the
't'own's Cultural Survey.
The 'Trustees voted to
make available for scholarships the tollowitmy amounts itom
the t6l1owinU fiinds,
Powers
400
Harrington
2500
Sherburne
1600
Weld
500
Stone
500
PTA
as rea_uested
Alin
500
Baker
500
Blake
350
A2eka
5(J0
Borg hesani
1000
Clarke
500
Denk
500
Film
200
Outlool: Club
1000
McCabe
1000
F.rarnei:e
7200
yaZilian
200
senbena
500
Clai)p
500
l Medal
800
tVlupple
as requested
Fitzger
200
Limmock
as leauested
Ner , 2uson
as requested
The Trustees voted to accent tale Matt' ;'_ Grace Scholarshin Fund (initial balance
11.000) on the terms contained in a Memorandum ti�om Tom Ferri dated h'ebruary 6_
1998_ and the William 1'. Nitztrerald Memorial Atheletic Scholarglim (initial balance
S6500 on the terms contained in a letter to LexinLton High School dated December 5_
1997.
The ` rustees anni a request from the Lexington Field and Garden Club that
50 ofthe annual income ftom the Snuth and 1lmery Funds be reinvested_ until tiirther
notice.
The next nieetin,g, will be October 21 1998 at the home ot'Alan Fields at 7,30
P.M.
Tom 'Tavlor_ Secv.