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       M.    Acceptance of Interim Financial Report for the University
of Kentucky for the Eight Months Ended February 29, 1988 (FCR 1)

       Mr. Forgy, Chairman of the Finance Committee, reported that there
were four items to recommend to the board. He stated that FCR 1 is the
acceptance of the Interim Financial Report for the University of
Kentucky for the eight months ended February 29. He noted that the
budget is on target and recommended that FCR 1 be adopted. The motion
was seconded by Judge Tackett, and carried. (See FCR 1 at the end of
the Minutes.)

       N.    nisposal of Personal Property (FCR 2)

       On motion made by Mr. Forgy, seconded by Mr. Stricker and
carried, the routine disposition of surplus and obsolete equipment as
described in Exhibits I and II was approved. (See FCR 2 at the end of
the Minutes.)

       0.    Report of Leases (FCR 3)

       Mr. Forgy moved that the routine report of lease agreements in
FCR 3 be adopted.  The motion was seconded by Mr. Clay and passed.    (See
FCR 3 at the end of the Minutes.)

       P.    Acquisition of Property (FCR 4)

       Mr. Forgy stated that FCR 4 relates to the acquisition of real
properties and would empower the Legal Counsel and the Vice Chancellor
for Administration of the Lexington Campus to enter into certain
negotiations with regard to the property indicated.   He reported that it
also empowers the Legal Counsel and Vice Chancellor for Administration
to file suit in accord with the Eminent Domain Act if negotiations are
not successful.  He then moved that FCR & be adopted.   Mr. Forgy's
motion was seconded by Mr. Clay and unanimously carried.    (See FCR 4 at
the end of the Minutes.)

       Q.    University Debaters Recognized

       Mr. McCowan commented on the University debaters winning national
novice honors which President Roselle mentioned in his report.    He
congratulated T. A. McKinney and Calvin Rockefeller on their defeat of a
duo at Harvard University to win the National Novice Championship Debate
Tournament at Northwestern University in Evanston, Illinois. He pointed
out that this gave the first national championship since 1980 to the
University's novice team. He also noted that Mr. McKinney was named top
novice debater in the nation. The debaters were given a round of
applause.