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[5] > Image [5] of Minutes of the University of Kentucky Board of Trustees, 1994-10-dec13.

Part of Minutes of the University of Kentucky Board of Trustees

- 5 - O. Reappointments to Universitv of Kentucky Equine Research Foundation (PR 5G) President Wethington recommended that approval be given to the reappointments of Mr. John A. Bell, II, Mrs. Alice Chandler, Mr. Rick Nichols, Mr. Nick Nicholson, Dr. David O'Neal, Mr. Robert L. Warren, and Dr. Thomas P. Pirone as members of the Board of Directors of the University of Kentucky Equine Research Foundation for four-year terms beginning December 15, 1994. He said that these appointees represent the horse industry and the University faculty. He noted that Mr. Shoop and Mr. Clay serve as Board of Trustee representatives on this Equine Board of Directors. On motion made by Professor Mather, seconded by Mr. Shoop and carried, PR 5G was approved. (See PR 5G at the end of the Minutes.) P. Professor Powell's Comments Professor Powell reminded the Board of the University Senate's annual holiday reception at the King Alumni House immediately following the Board meeting. She and Professor Mather extended an invitation to the Board to attend the reception. President Wethington encouraged the members of the Board to attend and visit with the Senate members and others from campus. Q. Comments about Library F~acilitv Governor Breathitt recognized the outstanding job that President Wethington and his team have done in arranging the method for financing of the Library. He said that the arrangement for a AAA rating and a very low interest rate on the thirty-year bonds are outstanding. He congratulated President Wethington and his team for realizing this long sought goal and doing it in such an expert way. President Wethington and his team were given a round of applause. President Wethington thanked the Board for its enthusiastic support of the project. He said that it made it easier for everyone to work their way through the process knowing that there was the exceptionally strong support of the Board. Professor Mather said that as a member of the faculty it seemed like a fairly painless explanation and the faculty feels they probably dodged a bullet. He said that President Wethington obviously respected the departmental budgets and the faculty does appreciate it. He said that he hopes the Board understands that the money was not necessarily sitting there idle. While the plan proposed looks rather painless, it is not. It has clearly cut down on the discretionary power of the University for funding special projects which have meant a great deal to the institution. The library is important but he hopes the Board understands that it has not come at no cost to the University. He expressed hope that there might be some added funding from the outside that might make up for what the University has had to do internally to make up for this reallocation of funds. He emphasized that it is a reallocation from other things that the University has been doing and the President has not found new money.