The Board of Town Hall Managers held a Special Meeting Monday April 27, 2009 in the Mary Hawley Room at Edmond Town Hall located at 45 Main Street Newtown, CT. 06470. Vice Chair, Sandy Motyka called the meeting to order at 7:00 p.m.
PRESENT: Sandy Motyka, Kathy Madzula, James Juliano, Mary Fellows
ALSO PRESENT: Edmond Town Hall Building Administrator Tom Mahoney, Marcy
ABSENT: Chairman Jay Gill, Marie Smith and Edmond Town Hall Building Superintendent Clark Kathan.
Discussion Items –
1. Trustee Change of the Mary Hawley Trust
Ms. Motyka stated that the purpose of the Special meeting was to re-examine the possibility of changing the Mary Hawley Trust from Bank of America to JP Morgan Chase Bank. Chairman Jay Gill and Ms. Motyka were in agreement that this would be a good time to approach the Board on the issue because other trusts in Town are deciding to change such as the C.H. Booth Library, the Cemetery and Hawley School (each going before Probate separately).
Mr. Juliano moved to make the change from Bank of America to JP Morgan Chase Bank as the Mary Hawley Trust stands to gain from the transfer. Ms. Madzula seconded motion adding that it’d be worth while to make the change.
Ms. Fellows stated that the only draw back between the choices were the associated fees for managing the trust.
Mr. Juliano agreed that similar fees were a hidden cost when looking at other banks such as Danbury Bank.
Ms. Motyka added that with Danbury Bank, the Board of Managers would have had to pay for the cost of Auditors.
Ms. Fellows stated that a positive aspect to possibly changing the Mary Hawley Trustee is that the more people look to JP Morgan Chase to make the change there will be strength in numbers.
Ms. Motyka addressed the Board regarding Mr. Gill’s vote that he emailed in as he had anticipated being unable to attend the Special Meeting. Mr. Gill voted in favor of changing the Mary Hawley Trustee from Bank of America to JP Morgan Chase Bank.
The present Board members voted on changing the Mary Hawley Trustee from Bank of America to JP Morgan Chase Bank. All members were in favor, none in opposition.
The Mary Hawley Trust Fund Trustee will be transferred to JP Morgan Chase Bank.
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2. Adjournment
Having no further business, Ms. Madzula moved to adjourn the Special Meeting at 7:25p.m. Ms. Fellows seconded. All were in favor.
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