-5-



    Q.   Authorize an Equine Research Center Project with a Scope
of t9.Q00.000 (FCR 7)

    Mr. Clay announced that Ambassador Maxwell Gluck has made a
substantial commitment to the University in the form of a $3
million challenge gift for construction of an Equine Research
Center. Mr. Clay said he was exceedingly pleased to recommend
and so move that the Board authorize the construction of such a
center with a total scope of $9 million to be provided by the
challenge gift of Mr. Gluck, matching funds from State Economic
Development Bond proceeds, and funds from other donors in the
horse industry. He said that the construction of a center is
long overdue and expressed thanks to Governor Brown and Mr.
Lunsford for their assistance in the project.

    Mr. Clay's motion was seconded by Mr. Griffin and passed
unanimously. (See FCR 7 at the end of the Minutes.)

    R.   Meetinig Adjourned

    There being no further business, the meeting was adjourned at
2:20 p.m.

                              Respectfully submitted,




                              George W. Griffin, Jr.
                              Ex Officio Secretary
                              Executive Committee
                              Board of Trustees


    (The Resolution; PR's 2, 3B, 5A, and 6A; and FCR's 1, 2, 3,
4, 5, 6, and 7 which follow are official parts of the Minutes of
the meeting.)