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[7] > Image [7] of Minutes of the University of Kentucky Board of Trustees, 1949-04-apr5.

Part of Minutes of the University of Kentucky Board of Trustees

6 Therefore, we, of the Attorney General's Office, approve said bond order as prepared. Very truly yours, (Signed) A. E. Funk Attorney General The Comptroller reported that he and Professor Frank Marray, of the College of Law, had read the proposed resolution providing for the Issuance of revenue bonds, and that, in their opinion, the reso- lution was proper and acceptable. Whereupon Member Harper Gatton introduced and caused to be read in full a proposed resolution en- titled "A RESOLUTION OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF IENTUCKY PROVIDING FOR THE ISSUANCE, SALE AND DELIVERY OF LIBRARY AND SERVICE BUILDING REVENUE BONDS OF' THE UNIVERSITY OF KENTUCKY TO PROVIDE FUNDS (TO THE EXTENT NOT OTHEM'.ISE PROVIDED) FOR THE CONSTRUCTION OF A LIBIRLRY AND SERVICE BUILDING UPON THE CAMPUS OF THE UNIVERSITY", which Resolution is as follows: WHEREAS, the University of Kentucky and its students are not now being provided with adequate buildings for educational purposes and in order to provide the same, the Board of Trustees of the University has heretofore directed that plans and specifications for a library and service building be prepared and such plans and specifi- cations have now been completed and submitted and approved; and WTHEREAS, buds for the construction of said building according to the approved plans and specifications have been received and it has been made to appear, to the satis- faction of the Board of Trustees, that said building may be completed at a cost of not to exceed Eight Hundred Thousand Dollars (C800,000.00); and the University now has on hand, in available funds, an amount exceeding Three Hundred Thousand Dollars ($;500,000.00) which may be applied against such construction costs, leaving a balance in the sum of approximately Five Hundred Thousand Dollars (S5oOQOO.OO) presently to be raised; and