7



          E. Frazee Hall Fire Loss Insurance Settled.

          Mr. Peterson reported that Frazee Hall was damaged by fire on Jan-
uary 24, 1956.  Representatives of the State Fire and Tornado Insurance Fund
employed Western Adjustment Company to adjust the loss. Several conferences
have been held by parties concerned during the intervening weeks.  A detailed
estimate of the cost of replacing, repairing and restoring the building to its
original status was made by Meriwether, Marye and Associates.  Representa-
tives of the Western Adjustment Company and State Fire and Tornado Insurance
Fund, and Vice President Peterson have agreed on a fire loss to the building
only of $105, 000.  It is understood that the damage to the equipment is yet to be
settled and the insurance loss on documents and replacement of papers is yet to
be adjusted.

          President Donovan and Vice President Peterson recommended that
the fire loss to the building be accepted and approved.

          Upon motion duly made, seconded and carried, the recommendation
was concurred in and the University officials were directed to proceed with set-
tlement of the loss as agreed upon.



          F. Resolution Concerning Bond Issue for Construction of Small Dormi-
tory (Phi Delta Theta Fraternity), 338 Clifton Avenue.

          Mr. Peterson submitted a Resolution of the Board of Trustees authoriz-
ing construction of a small dormitory at 338 Clifton Avenue.  He explained that
plans and specifications for the building would be ready for action before the Board
of Trustees met again and that it would expedite completion of the program if the
Board of Trustees authorized the Executive Committee to do all things necessary
to cause the building to be constructed and revenue bonds issued and sold. He
read the following resolution:


          A RESOLUTION OF THE BOARD OF TRUSTEES OF THE UNI-
          VERSITY OF KENTUCKY, AUTHORIZING THE CONSTRUCTION
          OF A DORMITORY BUILDING ADJACENT TO THE CAMPUS IN
          LEXINGTON, KENTUCKY, UPON PREMISES GENERALLY
          KNOWN AS NUMBER 338 CLIFTON AVENUE, AUTHORIZING
          THE ISSUANCE OF REVENUE BONDS TO PROVIDE FUNDS
          THEREFOR, AND AUTHORIZING THE EXECUTIVE COMMITTEE
          OF THE BOARD OF TRUSTEES TO OPEN AND ACT UPON BIDS
          FOR THE CONSTRUCTION OF SAID DORMITORY BUILDING,
          TO DETERMINE HOW MANY REVENUE BONDS ARE REQUIRED
          TO BE ISSUED, TO TAKE ALL PROPER ACTION TO AUTHORIZE
          SUCH REVENUE BONDS AND TO PRESCRIBE THE MATURITIES
          AND THE OTHER DETAILS THEREOF, AND TO PROVIDE FOR
          THE SALE OF SAID BONDS AT AN ADVERTISED, PUBLIC,
          COMPETITIVE SALE.