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HomeMy WebLinkAbout1999-12-14-TPT-Bolt021`14/2000 00:43 7818635077 WILLIAM POPKIN CPA PAGE 02 Board of Disulors Harry Cttaha Rafter December 14, 1999 Phil Crosby Ralph Lord Alan S, Fields, Chairman Js& Dempsey Trustees of Public Trust Chris k uses 'Town of Lexington Jim Fee 1625 Massachusetts Avenue Robert Burbidgo Lexington, NIA 02420 Betty Eddism William Babowi Dear Mr, Fields: William poplin Randy Woe$soer This letter is to set forth the terms on which the Trustees of Public Trusts agree to hold John LaPointe the trust fund established by the Backers of Lexington Track, (BOLT), L" rie Douglas Jude NO" I. The trustees will hold and invest the fund as part of the connnon trust funds �' McOovorn administered by the-in for the benefit of the Town of Lexington, """wry Board 2. At the direction of the BOLT Oversight Committee the interest and principal of the Phil Lawit fund shall be expended to resurface, reconstruct, repair, and maintain the indoor track Brian McNally and related projects at Lexington High School Field House, Robin DiGixmnuino BadeAdtz 3, If at any time there ceases to be a BOLT Oversight Coittec, the Athle rnm tic Director Art Duiong of Lexington High School shall Exercise the direction set forth, in paragraph 2, Ken Total 4, Once reconstruction is cozWleted; 25% of the, income earned and all capital gain, shall be transferred to principal. Thereafter income Wray be used for maintenance of the indoor track as designated by the conunittee. Very truly yours, /V L William, Popkin, Treasurer BOLT