The
Fund’s Governing Document

THE TRUST FOR PUBLIC LAND wishes to make a gift to the State of
Maine for the benefit of Baxter State Park. This gift is made possible
through the generosity of an anonymous Maine resident (the “Donor”).
In consideration of this generosity, this gift is made subject to
the following conditions and subject to the acceptance of these
terms by the State of Maine.
The initial gift and any additions thereto shall be transferred
and paid over, upon acceptance by the State of Maine, to the GOVERNOR
OF THE STATE OF MAINE, to be invested and reinvested as a trust
fund, known as THE BAXTER PARK WILDERNESS FUND,
(the “Fund”) and distributions, subject to conditions
set forth in this instrument, and made at least quarter-annually
therefrom, shall be paid over to the Baxter State Park Authority
(the “Authority”) as created under Title 12, Maine Revised
Statutes Annotated, Sections 900 to 907, inclusive, to be expended,
as determined solely by the Authority, for the purposes of Baxter
State Park.
The Governor of the State of Maine (the “Governor”)
shall appoint, to have supervision and investment authority of this
trust Fund, a Commission of three (3) members, who shall receive
no compensation for their services but who shall be reimbursed for
all of their reasonable expenses and, except for the first two years
of the Fund’s existence, each Commissioner shall serve a term
of three (3) years on a staggered basis so that the term of one
Commissioner shall expire each year (therefore the initial terms
of two (2) of the members of the Commission are for one and two
years, respectively). The Governor shall appoint a Commissioner
to complete the uncompleted term of any Commissioner who does not
complete her term. At no time during a Commissioner’s term
shall that Commissioner hold an elected or appointed position in
state government or be an employee thereof.
The persons appointed to the Commission shall be persons having
a demonstrated interest in the preservation and future of Baxter
State Park and, although not exclusively, be persons who have backgrounds
in the fields of investment, accounting, banking, insurance or law.
The purpose for the establishment of this fund is to create a vehicle
to accept contributions and provide income for the maintenance and
operation of Baxter State Park. The Donor’s goal for the fund
is to establish an ever increasing source of income for these purposes
as well as making user fees more affordable. It is the Donor’s
hope that the Commission would seek to accomplish this goal by production
of income, capital appreciation and the transfer of small but regular
additions from income to the trust principal. The Donor, by this
gift, hopes to encourage additional contributions, using this vehicle.
The commission may utilize traditional brokerage firms and investment
advisors. It is the desire of the Donor that investment expenses
be minimized and that the Commission exercise its good faith judgment
concerning investment decisions and utilization of investment resources
in the exercise of its duties.
The Commission shall employ the prudent investor standard of the
State of Maine for investment purposes. Decisions and actions by
the Commission shall be taken upon an affirmative vote of at least
two Commissioners. The Commission shall keep complete financial
records and statements of the Fund’s activities and shall
provide the Governor and the Authority with copies of such statements
no less often than semi-annually. At least semi-annually, the Commission
shall report to the Governor or his representatives and the State
Treasurer on investments, income earned and distributions made,
and shall meet with them annually to discuss the same.
This instrument, the Fund and the Commissioners shall be governed
by The Maine Uniform Principal and Income Act, Title 18-A Maine
Revised Statutes Annotated (§7-701 et seq) and the Maine Uniform
Trust Code, Title 18-B M.R.S.A., including the Maine Prudent Investor
Act, as they may be amended from time to time, as if the Fund were
a trust under Maine law and the Commissioners trustees under Maine
law. The Commissioners shall have the power to interpret this instrument
and to modify its terms as they deem prudent and necessary to carry
out and further the intention of the Donor.
The Commissioners shall act by a majority vote.
The Fund shall indemnify the Commissioners in respect of any and
all matters or actions for which indemnification is permitted by
the laws of the State of Maine, including without limitation, liability
for expenses incurred, including legal fees and expenses, in any
threatened, pending or completed action, suit or proceeding, whether
civil, criminal, administrative or investigative. The Fund may purchase
and maintain insurance on behalf of the Commissioners or who are
or were serving the Fund insuring them against any liability asserted
against or incurred by a them, or any of them, in the course of
or as a consequence of their service to the Fund in such capacity,
whether or not the Fund would have the power to indemnify the Commissioner(s).
The Donor may make or direct future additions to the Fund, which
the Governor and Commission shall accept. This trust Fund shall
be open to contribution from others who may wish to contribute to
the same purpose. The Commissioners may reject any contribution
to the Fund which carries conditions, other than those from the
Donor and all contributions in excess of the statutory minimum,
must be accepted by the Governor.
The purposes of Baxter State Park are set forth in the State of
Maine Statutes and are repeated here for the guidance of the Commission.
SECTION
900
“Seldom
has a more generous gift been presented to a people than has
been given by Percival Proctor Baxter to the people of the State
of Maine. It is incumbent upon them, the recipients, to preserve
the trust impressed upon them, to ensure for themselves and
future generations the fullest use of Baxter State Park consistent
with the desires of the donor.”
Governor
Baxter’s expressed desires were that this park ‘shall
forever be retained and used for state forest, public park and
public recreational purposes . . . shall forever be kept and
remain in the natural wild state . . . shall forever be kept
and remain as a sanctuary for beasts and birds.’
Lest
those that follow, uncertain of Governor Baxter’s wishes,
seek to define his desires in ways inharmonious with their original
intent, this section is enacted.
It
shall be the object of the Baxter State Park Authority to preserve
the grandeur and beauty of Maine’s highest peak, Mount
Katahdin, as well as the 45 other mountains, the numerous lakes,
ponds and streams; to subordinate its own wishes to the intent
of Governor Baxter; to recognize his wish that, in this era
of change, one thing of natural beauty remain constant.
This
intent must be interpreted so as not to separate this park from
the people to whom it was given; bur rather seek to have it
enjoyed and ‘used to the fullest extent but in the right
unspoiled manner.’
As
a public forest it shall remain in its natural wild state and
when ‘the Forests of our State have been cut off and disappeared,
when civilization has encroached upon the land we now refer
to as “Wild Land,” this park will give the people
of succeeding generations a living example of what the State
of Maine was “in the good old days” before the song
of the woodsman’s axe and the whine of the power saw was
heard in the land.’
As
a public park and a place of recreation, it is apparent that
it is intended for ‘those persons who enjoy the wilderness’
and that the repeated use of the word ‘recreation’
refers to the use of this park compatible with its natural state
as a wilderness area and an expanse ‘for those who love
nature and who are willing to walk and make an effort to get
close to nature . . . with pleasant foot-trails built and attractive
campsites laid out in the valleys, by the brooks, and on the
shores of the water.’
As
a tract kept in its ‘natural wild state’, it is
intended that ‘everything in connection with the park
must be left simple and natural and must remain as nearly as
possible as it was when only the Indians and the animals roamed
at will through those areas . . .’ Access to the park
shall be provided only ‘as may be necessary to accommodate
those persons who wish to enjoy the great unspoiled area that
now is the property of our State . . .’
As
a ‘sanctuary for beasts and birds’ it shall be forever
a ‘sanctuary and home for the creatures of the wild’,
and as refuge ‘against hunting, trapping and killing’
where ‘hunting with cameras will take the place of hunting
with guns.’
While
this area bears the name park, it is not to be confused with
the existing state park system and is to ‘be separately
administered free from any connection with the larger State
Park Commission’ (Bureau of Parks and Recreation). That
system, purchased with the funds of the people, must change
from time to time to accommodate changing circumstances and
the varying desires of its proprietors; not so, Baxter State
Park, purchased by the generosity of one man, richly endowed,
and presented to the people with specific stipulations.
‘While
I am living I fear no encroachments on the park, but as time
passes and new men appear upon the scene, there may be a tendency
to overlook these restrictions and thus break the spirit of
these gifts.’
Solemnly
cognizant of the responsibility, it shall always be the purpose
of the authority to satisfy the terms of the Trust.”
ACCEPTANCE
On
behalf of the People of the State of Maine and pursuant to the
provisions of Title 2, Maine Revised Statutes Annotated, Section
5, I accept this Gift and the Terms of this generous Donation.
August
23, 2007
(signed)
John E. Baldacci
Governor
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