Trustees of public funds shall be elected from among the legal voters at the annual meeting if the town so directs. The duty of the three trustees is to manage real or personal property held by the town in trust for any purpose.
24 V.S.A. 2431, specifically grants the trustees of public funds responsibility for cemetery trust funds. If trustees of public funds are elected, they have primary responsibility for the investment of the cemetery funds and for the annual reporting on them.
The trustees have the duty and authority to manage public funds, including the authority to:
- Apply the income to its designated purpose.
- Create deeds and contracts.
- Lease, sell or convey real estate and invest the proceeds.
- Lend money and hold deeds and mortgages.
- Invest in certain bonds and shares.
- Hold, purchase, sell, assign, transfer and dispose of securities and investments and the proceeds of investments.