dependence on administrative officials or staff of the Unm-r-T ity." He asked
what action the Board wished to take on the appointment of a secretary,
On motion by Mr. Smith, seconded by Mr E.e' and carried, fudge
James A. Sutherland was named secretary of the Bcard of Trustees and the
Executive Committee, without compensation. until further orders from the
Board of Trustees.
E. Amendatory Resolution to Commun tv Ccle~ges Educational Buildings
Project of the University of Kentucky
The President reminded the Board of Trustees of its adoption on March
4; 1963, of a Resolution creating and establishing a Community Coll.eges Educa-
tional Buildings Project of the University, and creating and establishing an issue
of Community Colleges Educational Buildings Revenue Bonds of the Bcard of
Trustees, which Bonds may be authorized and issued in one or more Series
from time to time pursuant to Series Resolutions, all to be payable ec1ually and
ratably from the Student Registration Fees collected from al. students attending
Community Colleges of the University elsewhere than in Fayette Couanty, Kentucky,
which are made parts of the Community Colleges Educational Buildings Project.
He stated that, upon review of said Resolution with the Fiscal Agents and Bond
Counsel, he wished to submit, and recommend adoption by the Board -f, an
amendatory resolution having for its principal purpose the clarification Cf
Section 4. 05 of ARTICLE IV, so that it will more definitely appear that it was
the intention of the Board to postpone the segregation and pledg-ng of the Student
Registration Fees until after the end of the fiscal biennium terminating on J-une
30. 1964, and to postpone commencement of the extra deposits in -he Bo5d Fund
for the accumulation of a reserve therein until May :965. He poainted cut
that since no Bonds had been issued under the authoritv of the Res.-;ltJcution adopted
on March 4, 1963, and no contractual rights had otherwise vested thereunder,
the Board was free to amend the same if it should see fit to do so.
He tendered to members of the Board an. Anendatcry Reso-l.ut.cn prepared
by Bond Counsel and approved by the President of the U. nrcty, the Trustee
and the Fiscal Agents.
After examination and discussion thereof, Bo-.rd member Angelucci
introduced, caused to be read in full, and moved immediate adopt on of the prc-
posed Resolution, as follows:
A RESOLUTION AMENDING IN CERTAIN RESPECTS A RESOLUTION
WHICH WAS ADOPTED BY THE BOARD OF TRUSTEES ON MARCH 4,
1963, CONCERNING THE CREATI-O1N AND ESTABLISHMENT OF A
COMMUNITY COLLEGES EDUCATIONAL BUTLDIN -S PROJECT OF
THE UNIVERSITY OF KENTUCKY AND THE CREAT.I'ON AND ESTABLISHME NT
OF AN ISSUE OF COMMUNITY COLLEGES EDUCA ULTNGS
REVENUE BONI)S OF THE BOA1RD OF TRUSTEES UTNIE UNiVERSITY.