MINUTES OF THE MEETING OF THE EXECUTIVE
           COMMITTEE OF THE BOARD OF TRUSTEES OF THE
           UNIVERSITY OF KENTUCKY, HELD ON TUESDAY,
           MARCH 6, 1973



           The Executive Committee of the Board of Trustees of the University

of Kentucky convened in regular session at 10:00 o'clock A. M., EST on Tuesday,

March 6, 1973, in the Office of the Board of Trustees in the Administration

Building of the University of Kentucky in Lexington, Kentucky. The following

members of the Executive Committee were present: Mr. Albert G. Clay,

Chairman of the Executive Committee, and Executive Committee members,

Mrs. Lucile T. Blazer, Mr. Richard Cooper, Mr. Thomas Bell, Mr. George

Griffin and Mr. Eugene Goss. Absent: None.

           There being a quorum for the conduct of business, Chairman Clay

called the meeting to order, and declared that the meeting was officially open

for the conduct of business.

           The Chairman called upon Mr. Lawrence E. Forgy, Vice President

for Business Affairs and Treasurer of the University, to report further to the

Executive Committee regarding the Project of the University instituted pursuant

toa Resolution adopted by the Board of Trustees on February 20, 1973 for the

refunding at a lower interest cost of all outstanding and callable "University of

Kentucky Consolidate4 Educational Buildings Revenue Bonds, Series D", dated

May 1, 1971. Thereupon, Mr. Forgy took the floor and made a detailed report

to the Executive Committee regarding said transaction, and recommending that

certain action be taken by the University in connection with the adoption of a Bond