Minutes of the Meeting of the Executive Committee of the University
of Kentucky, November 20, 1959.
The Executive Committee of the University of Kentucky met in the Pres-
ident2 s Office on the campus of the University at 9:40 a. m. , CST, with the fol-
lowing members present: R. P. Hobson, Chairman; Dr. Ralph J. Angelucci,
J. Stephen Watkins and Harper Gatton. Absent: Wood Hannah, Sr. President
Frank G. Dickey and Secretary Frank D. Peterson were present.
A. Approval of Minutes.
Upon motion duly made, seconded and carried, the minutes of the Execu-
tive Committee of October 16, 1959, were approved as published.
B. Temporary Investments Authorized.
Mr. Peterson reported that the Treasury Department had announced
the refunding of some bonds at a new rate of interest, 5-1/4%. Mr. Peterson
recommended that $180, 000 be invested temporarily. He stated that the bonds
would mature by the time the funds are needed for operation.
Upon motion duly made, seconded arid carried, the sumn of $180, 000
was authorized invested in short-term 5-1/4% government bonds.
C. Financial Report.
Mr. Peterson submitted financial report for the four-months period
ended October 31, 1959. The report contained a balance sheet and related
statements which presented a complete financial picture of the period for all
funds of the University.
Members of the Committee examined the balance sheet for Current
General Funds and Plant Funds, and the statement of operations for all depart-
ments and divisions of the University and, being advised, upon motion duly
made, seconded and carried, the report was authorized received and filed.
D. Contract with Department of Fish and Wildlife Resources Approved.
Mr. Peterson submitted a contract between the Department of Fish
and Wildlife Resources and the University. The contract provides for the
continuation of the Game Refuge at the Western Kentucky 4-H Camp in
Hopkins County near Dawson Springs. The contract runs for a period of
five years. Dean Welch states that the relationship over the past years has
been satisfactory. Mr. Peterson recommended that the contract be authorized
approved and executed.