HomeMy WebLinkAbout2001-01-24-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting
January 24, 2001
A meeting of the Trustees was held at 8: 00 AM at the home of David Williams at
1433 Massachusetts Avenue, Lexington. Present were Alan Fields, David Williams and
Thomas Taylor, and Secretary Julie Connery.
The minutes of the May 24, 2000 meeting were approved.
The Portfolio Report was reviewed and all transactions since the last meeting were
approved. Questions were raised about some of the entries in the Fleet Bank reports and
David will contact our man at Fleet about them.
The Trustees voted the transfer of 25% of income to principal in the funds listed
on the memo dated January 20, 2001, a copy of which is attached to these minutes.
D000
The Trustees voted to transfer $3500 the Town from the Charles E. French
Colonial Cemetery Fund for fencing and om the George Taylor Tree Fund for
trees to be planted around Town. We will inquire if we can provide support for a more
significant tree planting proposal.
$2500 was voted from the Human Services Fund to be transferred to the Human
Services Committee.
The Trustees reviewed the draft of our portion of the Town Report which David
had prepared.
The procedure to be followed when we receive gifts of stock was reviewed. A
method was established for getting immediate notification to Alan's office.
Julie explained the voucher system required by the Town's auditors, which
requires all three Trustees to sign the vouchers. This can be done after the fact at our
regular meetings.
The Trustees held a meeting in June with representatives of Woodstock
Corporation, an investment adviser. There was further discussion of this subject but it was
decided that we cannot improve on the present arrangement of having our investments
managed by Alan through Harbor Capital Management.
Inquiry is to be made of the Town as to what has happened to the money from the
sale of cemetery lots, which should by law go into our cemetery funds.
The Trustees voted to accept the following new funds, to be held in accordance
with the letters of instruction attached to these minutes:
LHS Class of 1938 Scholarship Fund
June Wilson Kennedy Fund
Stavenhagen Family Scholarship Fund
Millenium Arts Fund
It was decided to approach Larry Whipple after Town Meeting to see what the
Trustees can do to help his project to restore the Old Burying Ground.
Next meeting on April 18 at 8:00 PM at 42 Adams Street.
Tom Taylor, Secretary
U
U V
CD
T-�
6e -irA �-V�
(rlY,03
Ys,
o
3s y,
3 v
ST
.2 31.3 �
'� i
lYro
C
1 V
' i' • "u �?�V"W VW ��
V 2 V 2n,�re -yt S
16Y 39
s�9�
Le/�
�3.
o y
16Y 39
s�9�