1. Trustee introductions were made.

Betty Seeler provided Beth Guyer and George Tsiopras with a history of the trust funds, a fund accounting as of December 31, 2006, the June 2007 PDIP summary statement, the December 31, 2006 MS-9 & MS-10 and the May 2007 PDIP holdings.

2. Officers were elected as follows:

Secretary – Beth Guyer

Chairperson – George Tsiopras

Bookkeeper – Betty Seeler

The June 2007 PDIP report was reviewed and a discussion of the investment policy ensued. All were in agreement about edit changes to the draft investment policy provided by Betty Seeler. Betty will complete edit changes and circulate the investment policy to the Town of Bristol and the State of New Hampshire.

A discussion was held regarding adoption of a formal payment voucher for requests for disbursements from investment funds. Betty will speak to Town Administrator, Elizabeth Corrow regarding her feelings about completing a formal voucher form instead of and/or including a written letter request. Requests should be sent to either Betty or George and then Beth will be contacted to sign checks.

George, Betty and Beth signed the PDIP signature card.

Beth & George need to contact either Ann Rominger or Pat Field at TD Banknorth to coordinate signing signature cards.

Beth indicated that the Trustees of Trust Funds seminar held on June 20, 2007 led her to believe that real property cannot be managed by Trustees. George will contact Terry Knowles to determine whether or not the Trustees are able to hold the Kelley Park land currently included in the Trust Funds managed by the Trustees.

No additional business was discussed and the meeting was adjourned at 4:52 p.m.