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[5]

Part of Minutes of the University of Kentucky Board of Trustees

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5 and Professor Oberst represent the Board of Trustees on a committee to be charged with the codification of the Governing Regulations with instructions to study the possibility of including a policy relating to the establishment of a Trustees Retirement System for Class II employees of the University. The committee was also given authorization to separate Board policies from ad- ministrative policies and to include the latter in a new Administrative Manual. K Report on 1965-66 Budget Preparation (PR 10) President Oswald called attention to PR lO, Report on Preparation of 1965-66 Budget, copies of which were available to all those present. As indi- cated earlier in the meeting, the budget will be presented to the Board of Trustees for approval at the May 4 meeting with the schedule of preparation calling for the mailing out of the budget document a week to ten days in ad- vance of the meeting so that the Board might have an opportunity to examine it in detail. Mr. Kingsbury moved that the report be received and filed. His motion was seconded by Mr. Ezelle and, without objection, it was so ordered. (See PR 10 at end of Minutes.) L. Report on Housing by Finance Committee Mr SSmith having first determined that neither the Real Estate Com- mittee nor the Faculty Relations had reports to present, indicated that he would like to make the following report on behalf of the Finance Committee relative to the housing situation at the University: Dr. Oswald, Mr. Kerley and his staff, and Mr. Johnson have been giving a lot oi time and study to the most expeditious and feasible plan for meeting the critical emergency in housing. Mr. Kerley ha0 reported that a number of contractors and security dealer- have started a series of discussions to see to what extent private capital can expedite the housing requirements and their proposals will be compared with the methods followed in the past in the use of HHFA funds. It seems there is reason- able probability that a different type of procedure may expedite housing needs. The University is behind in this area and if past procedures are followed, will continue to be behind for the foreseeable future. Other state universi- ties have taken approaches through more or less private financing under a hybrid program whereby the housing so contracted is located in line with the overall university development program and, when the housing facilities pay off, the university acquires title to the housing projects. There are