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       X.    Larry and Patricia Holman Gift (FCR 8)

       Mr. Hardymon moved that the Board accept a contribution of $200,000
from Larry and Patricia Holman to the College of Business and Economics for
general support of the College of Business and Economics. He noted that Mr.
and Mrs. Holman are former employees of the College of Business and
Economics and are owners of a Lexington-based company. Mr. Shoop seconded
the motion and it passed. (See FCR 8 at the end of the Minutes.)

       Y.    George and Susan Proskauer Gift (FCR 9)

       Mr. Hardymon moved that the Board accept the bequest of the late
George and Susan Proskauer of various works of art preliminarily valued at
$1,750,870. Mr. Chellgren seconded the motion and it carried. (See FCR 9
at the end of the Minutes.)

       Z.    College Foundation. Inc. Gift (FCR 10)

       Mr. Hardymon moved that the Board accept a gift of $130,000 from the
College Foundation, Inc., Henderson, Kentucky. He explained that the gift
is to ensure the completion of the Fine Arts Center at Henderson Community
College. His motion, seconded by Mrs. Weinberg, passed. (See FCR 10 at the
end of the Minutes.)

       AA.   Texas Gas Transmission Corporation Pledge (FOR 11)

       Mr. Hardymon moved that the Board accept a pledge of $100,000 from
Texas Gas Transmission Corporation in Owensboro, Kentucky, to the Owensboro
Community College. He informed the Board that this is part of the College's
Partners in Progress Campaign. A check in the amount of $25,000 was given
to the College on December 22, 1993, and Texas Gas plans to pay the
remaining pledge of $75,000 in $15,000 installments for a total of
$100,000. Professor Sistarenik seconded the motion and it carried. (See
FCR 11 at the end of the Minutes.)

       BB.   Establishment of the Scholarship and Talent Grant
Quasi-Endowment (FCR 12)

       Mr. Hardymon moved that the Board authorize the creation of a fund to
be entitled the Scholarship and Talent Grant Quasi-Endowment for Ashland
Community College. This is an endowment where the initial funds of $23,275
will establish the base. Additional funds for this quasi-endowment may come
from unrestricted gifts, grants, interest earnings on private funds, and any
special appropriation for such purpose. His motion, seconded by Mrs.
Weinberg, passed. (See FCR 12 at the end of the minutes.)

       CC.   Establishment of Endowed Professorship Honoring Peter P.
Bosomworth. M.D. (tQR 13)

       Mr. Hardymon stated that FCR 13 is an endowed professorship honoring
Dr. Peter Bosomworth who is resigning as Chancellor of the Albert B.
Chandler Medical Center. He reported that the endowed professorship started
with a $100,000 donation from the University Hospital and $100,000 from
Kentucky Medical Services Foundation. Additional funds are expected from
private donors. On motion made by Mr. Hardymon, seconded by Mr. Jackson,
FCR 13 was approved. (See FCR 13 at the end of the Minutes.)