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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.