HomeMy WebLinkAbout2000-08-09-TPT-KennedyMutu f11 rn /Baird
1 775 Massachusetts Ave.
Lexington, MA 02420
Telephone: (781) 861 -0650
FAX: (781) 863 -8723
F. DAVID WELLS, CLU
STEVEN T. BALTHASER, CLU
August 9, 2000
Allen S. Fields
Trustees of Public Trusts
Town of Lexington
Lexington MA 02420
Re: Lexington High School Class of 1953
June Wilson Kennedy Fund
Dear Mr. Fields:
This letter is to set forth the terms upon which the Trustees of
Public Trusts agree to bold the trust fund (to be known as the June
Wilson Kennedy Fund) established by the Lexington High School Class
of 1953.
1. The Trustees will hold and invest the Fund as part of the common
trust funds administered by them for the benefit of the Town of
Lexington.
2. Net income from the Fund shall be paid as follows:
A. Beginning in 2003, the Trustees shall award annual
scholarship(s) in the amount of up to three - fourths of the
net income of the Fund. Remaining income from the Fund
shall be added to the principal. Until December 31, 2002,
all capital gains and income shall be transferred to
principal.
B. The scholarship(s) will be awarded to a student who has
demonstrated a need for the funds in order to continue his
or her academic education.
C. The scholarship(s) will be awarded to a student who has
worked conscientiously and to the best of his or her
ability without necessarily achieving high level academic
standing.
Special Agents, THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY, MILWAUKEE • Life Insurance, Disability Insurance, Annuities
Robert T. Frieling, CLU, ChFC, General Agent
Registered Representatives, NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC • Variable Annuities, Variable Life Insurance
720 East Wisconsin Avenue, Milwaukee, WI 53202 (414) 271 -1444
Registered Representatives, ROBERT W, BAIRD & CO. INCORPORATED • Member New York Stock Exchange Inc., other principal exchanges and SIPC
Mutual Funds, Unit Trusts, Money Market Funds
55 William Street, Wellesley, MA 02482 (781) 237 -7070
D. Awards will be made by the PTA Scholarship Committee in
accordance with the above and using its usual selection
process.
Sincerely,
F. David Wells
Scholarship Committee