Seal Estate Board of Trustees
Minutes
1-23-2017
Meeting Schedule
This board meets Annually or as necessary in the Mayor's Conference Room at City Hall
Board Members

Anthony Bosbous

McCord, Ruth

Dagnall, Alberta (resigned 2/20/17)

Welton, Douglas

Thomas, Dave

The Seal Estate Trust Board manages the Augusta Hursley Seal Trust Fund, which primarily includes a review of the audited financials and related information, an investment decision to provide the maximum returns with consideration to security of principal, and distributions to the operational fund from which earnings are spent in accordance with the Trust documents.  The Seal Trust dictates that a specified percentage (75% or optionally up to 90%) of net earnings be spent for the purposes of expanding the City’s recreation system (playgrounds and parks), for the acquisition of new recreation sites, or non-routine repairs and maintenance to these sites.  The undistributed earnings shall remain in the Trust.

Hours: M - F 9:00AM - 5:00PM
225 East Portage Ave, Sault Ste Marie, MI 49783

Phone: 906-632-5715
Fax: 906-635-5606

© 2023 City of Sault Ste Marie