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[9]

Part of Minutes of the University of Kentucky Board of Trustees

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- 9 - AA. Resolution of the Board of Trustees of the University ot Kentucky Accepting the Successful Bid for the Purchase of University of Kentucky Community Colleges Educational Buildings Refunding Revenue Bonds. Series J (FCR 14) Mr. Hardymon reminded the Board that the Committee had been reviewing the University's loans and bonds with outside professional help because of the current interest rates. He said that FCR 14 involves Community Colleges Educational Buildings Refunding Revenue Bonds. He reported that seven bids had been received at 9:30 a.m. and the low bid was 5.2399X from Chemical Securities, Inc. He commented on the savings and noted that the refunding program continues to be a success for the University. He made a motion to approve the bid of Chemical Securities, Inc. as contained in FCR 14. Mr. Chellgren seconded the motion and it carried. (See FCR 14 at the end of the Minutes.) BB. A Resolution of the Board of Trustees of University of Kentucky. Authorizing the Issuance of $7.585.000 (Plus or Minus up to $755,000) Consolidated Educational Buildings Refunding Revenue Bonds, Series K (Second Series) (FCR 15) Mr. Hardymon stated that FCR 15 is asking the Board's approval for another refunding project. He informed the Board that it involves Educational Buildings Refunding Revenue Bonds for the Lexington Campus and the Finance Committee would like to request bids in time for consideration at the June meeting, providing the Committee feels the bids are justified. He indicated that, in his opinion, the interest rates would not be changing in the next month and moved that FCR 15 be approved. His motion was seconded by Dr. Meriwether and passed. (See FCR 15 at the end of the Minutes.) CC. Coldstream Research Campus Ground Lease (FCR 16) Mr. Hardymon reported that FCR 16 involves a Coldstream Research Campus ground lease. The Committee recommends that the President be authorized to execute a ground lease between the University of Kentucky and Kentucky Technology, Inc. for lot 17 for the purpose of developing the Kentucky Technology Center, a multi-building, multi-tenant complex. After providing some background information, he reviewed the terms of the lease and moved approval of FCR 16. The motion, which was seconded by Mr. Wilcoxson, carried. (See FCR 16 at the end of the Minutes.) DD. Meeting Adjourned There being no further business to come before the Board, the Chairperson adjourned the meeting at 2:18 p.m. Respectfully submitted, Lois C. Weinberg Secretary Board of Trustees (PR's 2, 4A, 4B, 5A, 5B, 5C, 5D, and 5E; FCR's 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, and 16 which follow are official parts of the Minutes of the meeting.)