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Trustees elect Tom Watson as chair; approve scholarships, art gifts and CD placement
Summary
At their Feb. 18 meeting, the Trustees of the Trust Funds elected Tom Watson chair for 2026, approved Judy’s scholarship award recommendations, accepted $19,125 in checks for a public-art project and voted to place a maturing CD at Eastern Bank at 3.75%.
The Trustees of the Trust Funds convened Feb. 18 and elected Tom Watson chairman for the 2026 calendar year, approved several routine disbursements and authorized a short‑term CD placement.
The board opened by welcoming newly sworn trustee Christopher Clement Sr. and spent opening remarks thanking longtime trustee Dana for 15 years of service. Trustees then unanimously approved the minutes of the Dec. 18 meeting by voice vote.
On procedural and financial business the trustees:
- Approved a small reimbursement from the Tommy McCann Trust for $159 to assist an economically disadvantaged Portsmouth High School athlete, following a motion and second. The request was described in the meeting materials as targeted to students who cannot otherwise fully participate in school sports.
- Accepted two sets of checks totaling $19,125, collected by the Parks/Public Art Review Committee, to be held by the trustees until the art project for Bohlenko (Prescott) Park is ready for release.
- Placed on file a Feb. 2 court decree approving a non‑judicial settlement that reformed a longstanding educational trust established in the 19th century; trustees discussed transmitting the decree to the school department and guidance office for implementation details.
- Voted to place one maturing CD with Eastern Bank for six months at a 3.75% rate after reviewing competitive offers and timing constraints; the board authorized staff to execute the placement and to circulate confirmation afterward.
All routine items above were carried by voice vote; the meeting record does not include roll‑call tallies for the voice votes.
The meeting closed with housekeeping (signing checks) and direction that staff will distribute the TD Wealth presentation and other requested backup documents to trustees.
Next steps: staff will transmit scholarship award amounts to the school guidance office for student notification, circulate the TD Wealth slide deck, and confirm the Eastern Bank placement in writing.
