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[2] > Image [2] of Minutes of the University of Kentucky Board of Trustees, 1963-05-apr2.

Part of Minutes of the University of Kentucky Board of Trustees

2 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.