HomeMy WebLinkAbout2000-05-24-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting
May 24, 2000
A meeting of the Trustees was held at 8:00 A. M. at the office of David Williams
at 9 Meriam Street, Lexington. Present were Alan Fields, David Williams and Thomas
Taylor, and Secretary Tammy Wilson.
The minutes of the November 16, 1999 were approved.
David reported that $450,000 has been received for the Kirk Fund and he expects
another $800,000 plus in August. There was a discussion of how to describe this Fund for
the Town Report and it was decided that David will get approval of a description from
Norman Cohen. The Lincoln Park Subcommittee is interviewing consultants for
preparation of a Master Plan for Lincoln Park.
The Trustees voted to approve the following transfers to the PTA Council
Scholarship Fund:
Genesis Community Fund
1000
Charles D. Aker
200
Hallie Blake
320
Croker Family
200
Nan and Ray Culler
325
Earle and Elsie Dooks
50
Charles E. French
250
Mary P. Grace
450
Harrington Memorial
2850
Heritage Scholarship
525
Modoono Fund
400
Lawrence G. Movsessian/Class of 1954
50
Virginia Powers
550
Dorothea Schmidt -Penta
25
Schumacher
3400
Sherburne
1550
Mary Sorenson
225
Ellen A, Stone
225
Charles Lyman Weld
475
Morton L. Salter
5000
The Trustees also voted to pay other scholarships as follows:
Fund
Amount
Recipient
Anne E. Borghesani Prize
2000
SarahCrane
Bettie Clark
600
Hsin -Huang
Christine Martin
400
Sarah Masoner
June Denk
500
Dina S. Guth
Mickey Finn
350
Brendon Sullivan
Richard Isenberg
500
Alexander Sherman
Carolyn McCabe
1000
Katherine Reynolds
Srinivasu Meka
750
Bing Wu
Sevag Yazijian
250
Monique Johnson
David reported that the Town Auditor asked us to set up a voucher system for
payments, which has been done. Alan suggested that since the LEF Fund has become like
a checking account we should ask them to take it back and administer it themselves.
Tammy Wilson is giving up the job of secretary but will stay on through September and
the writing of our part of the Town Report. Her replacement is Julie Connery.
The Trustees reviewed the Portfolio Report and approved the list of transactions
since the last meeting. Since the Endowment Fund is now over two million dollars, Alan
suggested that we consider hiring an investment adviser. The Trustees have an
appointment to interview Woodstock Corporation in Boston on June 16.
It was voted to pay Tammy for services $1500 in June and to contribute $500 to
the PTA Scholarship Art in the Barn fundraiser.
The Trustees voted to accept the following new funds, to be held in accordance
with the letters attached to these minutes:
Backers of Lexington Track (BOLT)
The Lexington High School Class of 1954 Lawrence G. Movsessian
Scholarship Fund
The Dominic and Assunta Modoono Family Scholarship fund
The Morton L. Salter Scholarship Fund
The Lexington Police Children's Scholarship Fund
The Lexington Police Betterment Association Scholarship Fund
Next meeting October 26, 2000 at 64 Marrett Rd., Lexington, at 8:00 P. M.
Tom Taylor, Secretary