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       0.   Acceptance of Interim Financial Report for the University of
Kentucky for the Three Months Ended September 30. 1994 (FCR 1)

       Mr. Hardymon, Chairperson of the Finance Committee, reported that the
Finance Committee met and reviewed 15 items to present to the Board. He
recommended that the Board approve the Interim Financial Report for the
three months ending September 30. He reviewed the realized income and
expenditures and said that the report is consistent with prior years. He
moved approval of FCR 1. Mr. Sturgill seconded the motion and it passed.
(See FCR 1 at the end of the Minutes.)

       P.    Ae of-t-Eknancial Statements of the Universitv of
Kentucky and Affiliated Corporations and Other Related Organizations for the
Year Ended June 30. 1994 (FCR 2)

       Mr. Hardymon said that FCR 2 consists of the financial statements of
the University, the affiliated corporations and other related organizations
for the year ending June 30, 1994. He reported that representatives from
Coopers & Lybrand were at the Finance Committee and gave a completely strong
positive report. He made a motion that the Board accept the Financial
Statements for 1994. Mrs. Bell seconded the motion and it carried. (See
FCR 2 at the end of the Minutes.)

       Q.    Report of Lease ( CR 3)

       Mr. Hardymon said that FCR 3 is a report of a new lease. He reviewed
the terms of the lease and moved that FCR 3 be accepted. Mrs. Weinberg
seconded the motion and it carried. (See FCR 3 at the end of the Minutes.)

       R.   Approval of Lease (FCR 4)

       Mr. Hardymon reminded the Board that leases exceeding $30.000 in
value require approval by the Board. He reviewed the lease and moved that
the Assistant to the President for Fiscal Affairs be authorized to negotiate
and execute the lease. His motion, seconded by Mrs. Sims, passed. (See
FCR 4 at the end of the Minutes.)

       S.    Capital Construction Report (FOR 5)

       Mr. Hardymon reported that FCR 5 is a quarterly Capital Construction
Report for the three months ending September 30, 1994. He reviewed the
report and made a motion that the Board accept it. His motion, seconded by
Mr. Reed, carried. (See FCR 5 at the end of the Minutes.)

       T.    Patent Assignment (FCR 6)

       Mr. Hardymon moved that the Board authorize the President to execute
an assignment on behalf of the Board of Trustees to the University of
Kentucky Research Foundation the following Letters Patent of the United
States and the invention represented thereby: Gerald P. Huffman, Serial No.
08/282,669, filed July 29, 1994. He said that this invention relates
generally to the chemical processing and the recycling of waste plastic
materials, and, more particularly, to a liquefaction process for the
conversion of waste plastics to a useful oil and hydrocarbon gases. Mr.
Welenken seconded the motion and it carried. (See FCR 6 at the end of the
Minutes.).