HomeMy WebLinkAbout2003-11-06-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting
November 6, 2003
A meeting was held at 4:30 P. M. at the office of Harbor Capital, 75 State Street, Boston,
MA. Present were Trustees Alan Fields and David Williams, and David G. Ely of SSGA.
The performance of the Endowment Fund and the Cemetery Funds was reviewed. A vote
was taken to sell some of the individual stocks ($125,000) and with some additional cash
invest those moneys in SSGA Standard and Poors Index Fund.
The minutes of the July 16, 2003 meeting of the Trustees were approved as written.
The Trustees voted to be a sponsor of "The State of Clay" which is being held at the
Lexington Arts and Crafts Society in May. The vote was to take $500 from the George
Gilmore Fund
The Trustees voted to give $2000 from the George W. Taylor Tree Fund to the LHS
Landscaping Subcommittee, Patricia Meyer, Chair, to help in landscaping the High
School.
It was decided to have Alan Fields again talk with Gerald W. Blakely, Jr. about the
possibility of the Town acquiring one or more of the Aiden Ripley paintings now hanging
in the Bay Tower Room Restaurant.
It was voted to temporarily suspend the practice of returning 25% of the annual income to
principal on certain funds where the need for income is great. This for this year only.
The next meeting will be held at 12 noon at Harbor Capital at 75 State Street, Boston, on
January 21, 2004.
David Williams, Secy.