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[4] > Image [4] of Minutes of the University of Kentucky Board of Trustees, 1994-02-mar1.

Part of Minutes of the University of Kentucky Board of Trustees

- 4 - J. Report of Leases (FCR 2) Mr. Hardymon reminded the Board of FCR 5, dated October 5, 1985, that authorized the President or his designated representative to enter into leases and easements not exceeding $30,000 in value and required that all leases entered into under this authority be reported to the Board. He commented on the two renewals of leases and recommended that the report be accepted and made a matter of record. His motion was seconded by Mr. Chellgren and passed. (See FCR 2 at the end of the Minutes.) K. Approval of Lease (FCR 3) Mr. Hardymon reported that FCR 3 involves an addendum to a lease between University of Kentucky (Hospital Accounting) and CHM Property Partners, for property located at 191 West Lowry Lane effective March 1. 1994 through June 30, 1994 for the installation of a communications network. He noted that the original lease was approved at an annual rental cost of $55,398.22 and this addendum brings the total annual rental to $60,867.56. He recommended approval of FCR 3. Mr. Chellgren seconded the motion, and it passed. (See FCR 3 at the end of the Minutes.) L. 1993-94 Budget Revisions (FCR 4) Mr. Hardymon said that FCR 4 is a budget revision reporting updates mainly from federal appropriations. He highlighted several items in the report and recommended approval. His motion, seconded by Mr. Sturgill, passed. (See FCR 4 at the end of the Minutes.) M. John H. Clark Gift of Property (FMR 51 Mr. Hardymon reported that John H. Clark of Lexington, Kentucky has designated a farm in Woodford County valued at approximately $897,500 (160 acres) be given to the University. He said that Mr. Clark will retain the use of the property during his lifetime or until he relinquishes such interest. Eventually, the property will be sold by the University and the proceeds used by the University of Kentucky Equine Research Foundation to fund research in the Department of Veterinary Science. Mr. Hardymon recommended approval. Mr. Clay seconded the motion and it passed. (See FCR 5 at the end of the Minutes.) President Wethington expressed appreciation to Mr. Clark for the gift. He also thanked Mr. Clay and Mr. Shoop, who serve as members of the Equine Research Foundation Board, and Mr. Albert Clay, Chairperson of that Board, for their assistance in getting this fine gift for the University. N. Ralph G. Anderson Pledge (FCR 6) Mr. Hardymon recommended that the Board accept the pledge of $2,000,000 from Ralph G. Anderson, Cincinnati, Ohio, for help in constructing a new mechanical engineering building on the Lexington Campus. He asked Chancellor Hemenway to comment on the pledge.