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