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[8]

Part of Minutes of the University of Kentucky Board of Trustees

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- 8 - President Wethington also thanked Mr. Rose and Mr. Sturgill for their invaluable assistance. Mr. Sturgill moved the adoption of FCR 12 and stated that, in his opinion, the University is taking an aggressive step in properly utilizing the assets of the University for the benefit of East Kentucky. His motion, seconded by Mr. Rose, passed. Mr. Bruce Addington and Mr. Doug Moore, Addington, Inc., were asked to stand and be recognized, following which they received a round of applause. (See FCR 12 at the end of the Minutes.) W. Agreement with Arch Mineral Corporation (FCR 13) At the direction of Mr. Ockerman, Mr. Carter commented on FCR 13. He said that this recommendation authorizes the administration to enter into an Agreement with Arch Mineral Corporation for the purposes of resolving all current issues and disputes between the University and Arch and to establish a basis for cooperating on future questions which may arise by reason of Arch's mining activities. He reviewed the issues and the terms of the Agreement. With the adoption of this Agreement, Arch Mineral Corporation can proceed with mining the approximately three million tons of coal without University opposition, and the University will continue to manage and utilize Robinson Forest and conduct its research without damage from the mining activities. President Wethington said that the agreement, when executed, will resolve the differences concerning the boundaries of Robinson Forest with Arch Mineral Corporation. He expressed pleasure in adding his support to the recommendation. Mr. Ockerman thanked Mr. Rose and Mr. Sturgill for their assistance with the Agreement. He stated that everyone did a tremendous amount of work on this particular project, and the administration has, in his opinion, arrived at an equitable solution to a long-standing problem. He entertained a motion for approval. Mr. Rose so moved. The motion, seconded by Mr. Sturgill, carried. (See FOR 1.3 at the end of the Minutes.) X. Aceptance of Gift fromAshland Oil. Inc. (FCR 14) and Acceptance of Gift from Hunana. Inc. (FCR 15) Mr. Ockerman asked President Wethington to comment on FCR 14 and 15. President Wethington expressed pleasure in recommending that the Board accept the two major gifts from Ashland Oil, Inc. and Humana, Inc. The two gifts of $1 million each have been given to the University for the College of Business and Economics for their Program for Excellence. He said that he was pleased that Kentucky's two largest corporations saw fit to make these sizable donations to the College. On motion made by Mr. Stricker, seconded by Professor Betts and passed, the gifts were officially accepted. (See FCR 14 and 15 at the end of the Minutes.