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       H.    Capital Construction Report (FCR 2j

       Mr. Hardymon reported that FCR 2 is a quarterly Capital
Construction Report for the three months ending September 30, 1993. He
reviewed the report and made a motion that the Board accept it. His
motion, seconded by Mr. Chellgren, carried. (See FCR 2 at the end of the
Minutes.)

       I.   Approval of Lease (FCR 3)

       Mr. Hardymon reported that FCR 3 is a standard approval of a lease
in excess of $30,000 and must be approved by the Board. He reviewed the
terms of the lease and recommended approval. Mr. Chellgren seconded the
motion, and it passed. (See FCR 3 at the end of the Minutes.)

       J.    Liberty National Bank Pledge (FCR 4)

       Mr. Hardymon moved that the Board accept a pledge of $100,000 from
Liberty National Bank to the Commonwealth Library Campaign. He reported
that the first $20,000 has been received and the remainder will be paid
over a five-year period.  His motion was seconded by Mr. Ulmer and
carried. (See FCR 4 at the end of the Minutes.)

       K.    Jamal Mashburn Scholarship Fund (FOR 5)

       Mr. Hardymon moved that the Board accept the commitment of Jamal
Mashburn for a pledge of $500,000 to the University of Kentucky, payable
over five years, for the Jamal Mashburn Scholarship Fund. He said that
the primary funding will be to establish Kentucky Excel, a program for
economically challenged and underrepresented students who would not
otherwise have the opportunity to attend college.   He provided
information about the program and said that the pledge is getting
attention from across the country. Mrs. Sims seconded the motion for
approval, and it passed. (See FCR 5 at the end of the Minutes.)

       L.    Resolution of the Board of Trustees of the University of
Kentucky Accepting the Successful Bid for the Purchase of $27.53.OQ.&
(plus or minus up to $2.750.0_) of Uniy__sitv of Kentucky Cunsolidated
Educ tonal Buildings Refunding Revenue     nds.Series G. Series H and
Series I (Third Series). Dated October 1. 1293 (FCR i

       Mr. Hardymon said that FCR 6 is for the purchase of $27,530,000 of
University of Kentucky Consolidated Educational Buildings Revenue Bonds.
This is a bond issue to refinance some of the debt. He reported that
four bids were received and tabulated. Goldman, Sachs & Co. had the
winning bid of 4.3745%.. He quoted the cumulative savings ($1,620,000),
the present value savings ($1,285,000) and the annual savings ($125,000
per year) to the University and moved that the Board accept the Goldman,
Sachs & Co. bid. His motion, seconded by Mr. Wilcoxson, passed. (See
FCR 6 at the end of the Minutes.)

       Mr. Hardymon said that ne was pleased to report that the
cumulative savings .of all re-financing of revenue bonds to date is $6.5M
and the annual savings is $543,000.