IRON MOUNTAIN — Lisa Basanese has been chosen as president of the Iron Mountain Board of Education.

She takes over for Rob Langsford, who nominated her for the position during the reorganizational meeting. Lisa Carollo was elected vice president, succeeding Lisa Basanese.

Geno Basanese will be secretary, a position Carollo had last year. Shari Picucci-White was reelected as treasurer.

In other business, the board:

≤ Heard presentations from Rich Ledy of First Bank and Russ Kassin of First National Bank & Trust of Iron Mountain on how they will invest the money donated by the John V. and Frances M. Zanardi Family Trust.

The Zanardi family donated more than $4 million to the school district. An ad hoc committee will decide how to best use the money, which can be used to endow scholarships, enrich the school’s library resources, enhance and enable athletic camps and programs as well as band and academic camps and programs, enhance and enable special events such as prom and drama programs, and improve the school’s technology.

Superintendent Jerry Sardina said it would take the better part of the year to come up with a project list.

Ledy said First Bank handles many of the district’s scholarships and the money would be invested in long-term stocks and bonds.

Kassin of First National Bank suggested putting some money in local CDs that roll over every 30 days. This would give the district the option to take it out and use it, but it would be 100% insured.

≤ Learned Sardina had met with representatives from the Imagination Factory Children’s Museum about using the former middle school building. The group is still waiting to hear about grants. Sardina said they have plans in the works to use the building as a museum and community center.

≤ Introduced Andrew Larsen as the new student representative on the board. He will give monthly updates on events and other happenings in the school. The board decided to add a student representative at a previous meeting.