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       President Wethington informed the Board that the Chairperson of
the Finance Committee has been assisted by Vice President Lee Magid in
preparing him for discussions of patent assignments. He reported that
Dr. Magid has resigned from the University effective January 31, 1994.
She has accepted a position with the Oak Ridge National Laboratory and
will be heading an extremely important research project for which she is
uniquely qualified. He expressed appreciation to Dr. Magid for the
contributions she has made and continues to make to the University, for
the fine job she has done in heading Research and Graduate Studies, and
for showing good leadership and development in that area. He noted that
in PR 2 Delwood Collins was appointed Acting Vice President for Research
and Graduate Studies effective February 1, 1994 and said that Dr. Collins
would be assisting Mr. Hardymon with patent assignments in the future.

       S.    Patent Assignment (FCR 8)

       Mr. Hardymon provided background information on the invention for
certain improvements in Apparatus and Method of Hyperbaric Filtration and
moved that the Board authorize the President to execute an assignment on
behalf of the Board to the University of Kentucky Research Foundation the
following Letters Patent of the United States and the invention
represented thereby: Fuhua (NMI) Sun, Serial No. (to be assigned), filed
(to be filed). His motion was seconded by Mr. Ulmer and carried. (See
FCR 8 at the end of the Minutes.)

       T.    Resolutions Authorizing the Issuance of Univgxsity of
Kent-uky Community C;AegeasEdurational Buildings Refunding Revenue
Bonds, Seriex   l, C. F.  ndASecond Series), of the Boardf_Trustees
of the Univer itv of Kentucky (FCL2-

       Mr. Hardymon stated that FCR 9 involves the Community Colleges
Educational Buildings Refunding Revenue Bonds. It consists of a series
of five bonds, approximately $62 million involved (plus or minus 10%).
He noted that each can be sold separately according to the proposal or in
groups of two. The Committee is looking at a present value saving of
$2.148 million, approximately $170,000 a year. It has been recommended
by the consultants to the Finance Committee that the bonds be given out
in two packets instead of one packet. A January 12 target date has been
established for the first packet, and the Executive Committee of the
Board will be asked to look at the data collected at that time. He said
that FCR 9 gives the President the authority to select the date and the
authority to call the Executive Committee. He moved that FCR 9 be
approved. His motion, seconded by Mr. Shoop, passed. (See FCR 9 at the
end of the Minutes.)

       President Wethington said that it is anticipated that an Executive
Committee meeting will be held at 12:00 Noon on January 12, 1994. The
purpose of the meeting will be to consider the approval of the bond sale
and bids will be received the morning of January 12. He informed the
Board that it will be an open meeting and all Board members will be
notified of the meeting. Anyone who chooses to attend the meeting may
certainly do so.