§ 2431. Trustees of public funds
§ 2431. Trustees of public funds Real and personal estate, except U.S. public money, held by a town in trust for any purpose, including cemetery trust funds, unless the person giving the same otherwise directs, shall be under the charge and management of three trustees, elected by the town when the town so votes. At […]
§ 2432. Powers and duties; investments
§ 2432. Powers and duties; investments (a)(1) The trustees shall apply estate income to the purpose for which it is held, and deeds or contracts made by them shall be in the name of the town. (2) The trustees may: (A) lease, sell, or convey real estate so held and invest the funds received therefrom; […]
§ 2433. Bonds; actions
§ 2433. Bonds; actions The trustees shall have crime insurance coverage or give bonds to the satisfaction of the selectboard, conditioned for the faithful performance of their duties. In the name of the town, they may prosecute and defend a suit or action for the recovery or protection of the estate entrusted to their care. […]
§ 2434. Report
§ 2434. Report The trustees shall report to the annual town meeting the amount of the funds in their hands, the manner and condition of its investment, and the disposal of the income thereof. If any part of such fund is school money, such trustees shall make like report to the State Board of Education.