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Town of Reading
Meeting Minutes
Board - Committee - Commission - Council:
Commissioners of Trust Funds
Date: 2017-02-28
Building: Reading Town Hall
Address: 16 Lowell Street
Purpose: General Business
Attendees: Members - Present:
HECEIVED
-Tows CLERK
RE A DING, MASS.
Zoll RAR -8 P 3:141
Time: 7:00 PM
Location: Lower Level Conference Room
Elizabeth Klepeis, John Daly, Nancy Heffernan, Neil Cohen and Barry Berman
Members - Not Present:
Others Present:
Richard Holmes and Kevin Breire
Minutes Respectfully Submitted By: Sharon Angstrom
Topics of Discussion:
Mr. Cohen called the meeting to order at 7:14.
On a motion by Ms. Klepeis, seconded by Mr. Daly, the minutes of the December 12 2016 meetings were approved
by a vote of 4-0-1.
Mr. Daly reported on his conversation with Greg Lee from Wells Fargo. The Diamond Offshore Drilling bond holding
has slipped below investment grade. The bond was purchased at $99.25 and is now at $88.33
On a motion by Ms. Klepeis, seconded by Mr. Daly, the sale of the Diamond Offshore Drilling bond was approved by
a vote of 4-0.
On a motion by Mr. Daly, seconded by Ms Klepeis, the sale of IWM 310 shs purchased on 4/13/12 was ap rop ved by
a vote of 4-0.
On a motion by Ms. Klepeis, seconded by Mr. Daly, the investment of $104,000 into SPDRS over 3 months was
approved by a vote of 4-0.
On a motion by Mr. Daly, seconded by Ms. Klepeis, the reinvestment of proceeds from the sale of the Diamond
Offshore Drilling Bond plus approximately $12,000 of the proceeds from the sale of the I WM in a new bond based on
the existing investment parameters was approved by a vote of 4-0.
On a motion by Mr. Daly, seconded by Ms. Klepeis, the reinvestment of the remaining proceeds from the sale of the
IWM plus approximately $12,000 of the proceeds from the sale of the IWM into IWM over 2 months was approved proceeds from the sale of the IWM into IWM over 2 months was approved by
a vote of 4-0.
Ms. Klepeis reported on a meeting she had with Matt Kraunelis, Administrative Services Department Head, regarding
an article in the paper. He has to approve all publicity for the town and will see that the presentation given to the
Board of Selectmen along with a picture of the Commissioners is published.
Mr. Cohen will attend the Board of Selectmen meeting on 1/10/17 as requested by the Town Manager.
The next meeting date will be March 16, 2017.
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2013-09-03
Town of Reading
Meeting Minutes
On a motion by Ms. Klepeis seconded by Mr. Daly, the Commissioners voted to adjourn its meeting, at 8:30 p.m. by a
vote of 4-0.
Respectfully submitted,
Secretary
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