The composition, terms of office, vacancies, functions and duties
of the Trustees of the Trust Funds shall be as provided by RSA 31,
and as amended.
Trusts of the Town shall be administered by a board consisting
of three Trustees. One shall be elected by ballot at each Annual Town
Meeting for a term of three years.
Trustees shall organize by electing one of their members as
Bookkeeper who shall keep records and books of the Trustees and shall
require a voucher before making any disbursement of funds from said
trusts.
The Trustees shall give bond in such amount and in such form
as the Commissioner of Revenue Administration shall prescribe, and
any Trustee who shall make any payment of income or principle from
trust funds before the approval of his bond in writing by the Commissioner
shall be personally liable to the Town for any loss resulting from
such payment, to be recovered for the Town at the suit of any citizen.
The expense of said Trustees and the expense of their bonds shall
be charged as incidental Town charges.
Trust funds or the income thereof to be expended shall be paid
to Trustees to carry out the objects designated by such trusts.
The Trustees shall keep a record of all trust in a record book,
which shall be open to the inspection of all residents of the Town
of Raymond.
The accounts of the Trustees shall be audited annually by the
Auditor of the Town. The securities shall be exhibited to the Auditor,
and he/she shall certify the facts found by his/her audit and the
list of all securities held.
Vacancies in the Board of Trustees shall be filed by the Selectmen
for the remainder of the term.
The Trustees of Trust Funds shall also perform all other duties
and functions as required by the New Hampshire Revised Statutes Annotated
and amendments thereto.