Finance Committee Re port
                                          November 15, 1971



                                          FC~ 5  



Members, Board of Trustees:

                  ACTIONS RELATING TO STADIUM

The Board will be asked to take several actions relating to the
proposed football stadium at the meeting on November 15, 1971.
The documents relating to these actions are in preparation and
will be available at the meeting. In the meantime, if any of you
have questions as to the details of the actions to be proposed,
please contact Mr. Forgy's office.

In brief summary, the Board will be asked to act upon the follow-
ing items which will be proposed at the meeting on November 15,
in connection with the stadium and the financing thereof:

1. A formal request that the State Property and Buildings
    Commission issue bond anticipation notes of the Commission
    for the purpose of providing funds for the construction of
    the stadium.

2. Authorization to transfer title to real property comprising
    the site of the stadium to the State Property and Buildings
    Commission with the provision that the said property will be
    reconveyed to the University at the end of the last biennial
    lease period.

3. Approve and authorize the execution of a lease of the facility
    from the Commission for the initial term ending June 30, 1972.

4. Approve and authorize the execution of an agreement with the
    University of Kentucky Athletic Association whereby the
    Athletic Association will pledge certain of its revenues to
    the University for the purpose of paying the rentals provided
    in the lease from the State Property and Buildings Commission.



Note: The official documents are not made a part of the Minutes but are
included in the files of the Board of Trustees.