16



           Dean Stahr on numerous occasions has had opportunities to
       go to other institutions or government work but refused to do
       so due to his intense loyalty to Kentucky. He has rendered
       valiant and outstanding service to the University for nearly
       ten years and to the administration for more than eight years.

           The Board extends to Dean Stahr its commendation and
       appreciation, on behalf of the University, for his high level
       service to its success. His resignation is accepted with
       deep regret and the Board extends to him and his family best
       wishes for a great future in the challenging position he has
       accepted.



       P. Sale of Holmes Hall Bonds and Grant of Authority to Executive Committee
fo r Shawneetown.
       Vice President Peterson reported that, pursuant to authorization of the
Board of Trustees and the State Property and Buildings Commission, advertise-
ments have been placed in the New York Bond Buyer and the Louisville Courier-
Journal to sell $1, 131, 000 University of Kentucky Dormitory Revenue Bonds
of 1956--Holmes Hall.

       Thereupon, the hour of 10:00 A.M. , Central Standard Time, having ar-
rived for the consideration of the bid or bids on the $1, 131, 000 of University
of Kentucky Dormitory Revenue Bonds of 1956, Holmes Hall, dated June 1, 1956,
and the matter having been sufficiently considered, a motion was made by Mr.
Ben Butler and seconded by Mr. Louis Cox that all rules be suspended and that
the following resolution be adopted:

       A RESOLUTION OF THE BOARD OF TRUSTEES OF THE UNIVER-
       SITY OF KENTUCKY ACCEPTING THE SUCCESSFUL BID ON
       $1, 131, 000 OF UNIVERSITY OF KENTUCKY DORMITORY REVENUE
       BONDS OF 1956, HOLMES HALL, DATED JUNE 1, 1956.

       WHEREAS, notice of sale of $1, 131,000 of University of Kentucky Dormi-
tory Revenue Bonds of 1956, Holmes Hall, dated June 1, 1956, has heretofore
been given in strict compliance with law and with the resolution of the Board of
Trustees of the University by publication in The Courier-Journal, a daily news-
paper published in Louisville, Kentucky, and of general circulation throughout
the Commonwealth of Kentucky, and in The Bond Buyer, a financial newspaper
published in New York, New York, and of general circulation throughout the
United States of America, both of such publications having been made not less
than two weeks prior to the time stated in the "Notice of Sale of Bonds" for the
opening and consideration of purchase proposals for such bonds, both of which
publications are hereby authorized, ratified and approved, and

      WHEREAS, all bids received for said Bonds have been duly considered
and are as follows: