 |
Commissioners of Trust Funds - Modification of Hospital Trusts
In 1925, Gilman Parker willed $35,000 to the Town with the expressed purpose of building a hospital in the Town. Subsequently George Grouard and Harriet Foster also willed funds to build a hospital. THe interest on the funds was to be used to help needy Reading citizens to pay their hospital bills until such time as the hospital could be built.
When it became evident in the 1980's that it was highly unlikely that there would ever be sufficient funds in the so-called hospital trusts to build a hospital, the Trust Fund Commissioners sought and obtained court approval to amend the terms of the hospital trusts. On March 11, 1988 a judgement was approved by the Massachusetts Probate Court whereby the terms of the wills of those donating the Hospital Trust Funds were modified under the doctrine of cy pres. This judgement authorizes the Commissioners to use the annual income derived from the Hospital Trust Funds to defray the expenses of needy citizens of the Town of Reading for the provision of in-home health care, for transportation to hospitals or other approved medical centers or facilities, or for the provision of such other medically-related services as may be authorized by the
Commissioners, notwithstanding the provisions of the wills of George H. Grouard, Harriet Foster, or Gilman Parker to the contrary.
| |
