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convey the University's interest (being an undivided one-half interest) in the
surface rights to three hundred thirty (330) acres of land located in Garvin
Count), Oklahoma to A. E. Shamley and Pauline Shamley for a total consideration
of $107, 500. His motion was seconded by Mr. Gorman and passed without
dissent. (See FCR 7 at the end of the Minutes.)


      U. Report of Investments (ICR 1)

      Mr. Griffin, Chairman of the Investment Committee, said that the
report of changes made in investments for the University of Kentucky and its
affiliated corporations for the quarter ending December 31, 1977, had been
reviewed by the Investment Committee and moved its acceptance. His motion
was seconded by Mr. Homer Ramsey and passed without dissent. (See ICR 1
at the end of the Minutes. )


      V. Medical Center Committee Report (MCCR 1)

      Mr. Black, Chairman of the Medical Center Comrnittee, reported that the
Committee had met on the morning of April 4, 1978, and reviewed the proposed
By-Laws of the Medical Staff of the University Hospital and the By-Laws of the
Council of Supervisors of the University of Kentucky Hospital (copies of both
documents were sent to all members of the Board prior to the meeting).
The Medical Center Committee approved the By-Laws of the Medical Staff without
change but recommended that the By-Laws of the Council of Supervisors, Section
I be amended to read as follows "..., four (4) public members recommended
by the President, one of whom shall be a student of the University of Kentucky....

       Mr. Black moved that the Board approve, in principle, the By-Laws
of the Medical Staff and the By-Laws of the Council of Supervisors, University
of Kentucky Hospital, as amended, with the following provisos: (A) that
subsequent Board action will be requested to empower the Council of Supervisors
to commence exercising the functions to be delegated to it by the Board. (B)
that subsequent Board action will be requested to amend the By-Laws of the
Medical Staff to provide, consistent with the action relating to (A) above, for
the substitution of the Council of Supervisors for the Board of Trustees regarding
certain functions now provided to be performed by the Trustees. Mr.
Black's motion was seconded by Dr. Woodyard and passed without dissent.
(See MCCR 1 at the end of the Minutes.)


       W. Status Report on the Development of Professional Practice Plan
           in the Medical Center

       Mr. Black reported that the Medical Center Committee had received
a status report on progress relative to the development of a new plan for