Paying
D, S. Sayre
& Co.,
ratified.

Action con-
cerning notes
iven by
reasurer
or Regent.

Actions of
the Execu-
tive Com.
ratified in
part. (377 )



1. Curator Sloan moved that the action of the executiVe QQo'Jt Q
on paying note to Mir. D. A. Sayre & Co. and the whole transaction
be ratified adopted without division.

2. Also by same that the act of the executive Comnmittee of NTov. 91t,
1876 in reference to the renewals of notes and bindings the Board of
Curators be not ratified but that this board declares those notes as
originally given by the Treasurer or Regent to be valid and binding
on the Curators of the Kentucky University in their corporate capacity
Adopted.

3.  That all other proceedings of the executive Committee except
such as affect the legal rights of' parties to the controversy which
has been refered to the legal arbitration be ratified adopted.



4.   That all appropriations as ordered by the Committee be approved
adopted.



5.  That the transfer and hypothecation of any coupons in which
legal complications or questions is involved be ratified adopted.



Compensation
    to the
Secretary.



Notice
by Regent
Bowman.



Report of
Treasurer
ratified.

Treasurer
elected.



Resolution
concerning
investments
laid on
the table.



     Curator Tibbs moved the following

     Resolved that the Executive Committee be and are hereby instructed
to arrange with the secretary of this board to pay him such sum as
shall be deemed just compensation for his services as Secretary.
Adopted.

     Regent Bowman gave notice that he reserved the right to question
the legality of the proceedings of the called meeting of the board
of Curators of Kentucky University held Dec. 27th, 1876 End of the
proceedings of that date and of the proceedings of the executive Com-
mittee since that date.

     Curator Withers moved the following resolution

     Resolved that
                               laid on the table.



     Curator Withers moved that the report of the Treasurer be rati-
fied adopted..

     Curator Withers moved that the rules be suspended at that, D.S.
Goodloe be now elected Treasurer of the Ky. University adopted unani-
mouslY.
     Curator Withers moved the following Resolved that the Treasurer
in connection with the Executive Committee be authorized and directed
to invest all the endowment fund in her hands or subject to his con-
trol in bonds and mortgages in improved real estate in the blue grass
region of Kentucky the real estate so mortgaged to be at least 33 per
cent cash value over and above the amount loaned on the same, the in-
vestments to be 8 per ct. interest payable semi annually motion to
refer rejected and the resolution laid on the table.