05/01/2006 Annual Town Meeting - Laserfiche WebLink

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(1) To accept and receive property, whether real or personal, by gift, grant, devise, or transfer from any person, firm, corporation or other public or other public or private entity, including without limitation grants of funds or other property tendered to the trust in connection with provisions of the city or town zoning code or any other town ordinance; (2) To purchase and retain real or personal property, including without restriction investments that yield a high rate of income or no income; (3) To sell, lease, exchange, transfer or convey any personal, mixed or real property at public auction or by private contract for such consideration and on such terms as to credit or otherwise, and to make such contracts and enter into such undertaking relative to trust property as the board deems advisable not withstanding the length of any such lease or contract; (4) To execute, acknowledge and deliver deeds, assignments, transfers, pledges, leases, covenants, contracts, promissory notes, releases and other instruments sealed or unsealed, necessary, proper or incident to any transaction in which the board engages for the accomplishment for the purposes of the trust', (5) To employ advisors and agents, such as accountants, appraisers and lawyers as the board deems necessary; (6) To pay reasonable compensation and expenses to all advisors and agents and to apportion such compensation between income and principal as the board deems advisable; (7) To apportion receipts and charges between income and principal as the board deems advisable, to amortize premiums, and establish sinking funds for such purpose, and to create reserves for depreciation depletion or otherwise; (8) To participate in any reorganization, recapitalization, merger or similar transactions; and to give proxies or power of attorney with or without power of substitution to vote any securities or certificates of interest; and to consent to any contract, lease, mortgage, purchase or sale of property, by or between any corporation and any other corporation or person; (9) To deposit any security with any protective reorganization committee, and to delegate to such committee such powers and authority with relation thereto as the board may deem proper and to pay, out of trust property, such portion of expenses and compensation of such committee as the board may deem necessary and appropriate; (I O�) To carry property for accounting purposes other than acquisition date values; (11) To borrow money on such terms and conditions and from such sources as the board deems advisable, tomortgage and pledge trust assets as collateral; (12 )To make distributions or divisions of principal in kind; 26