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       P.    Anonymous Gift (FCR 9)

       Mr. Hardymon moved that the Board accept an anonymous gift of
$158,500 to the University of Kentucky Equine Research Foundation. He
said that the Foundation's Board of Directors or Executive Committee will
designate the funds to a specific area of equine research. His motion,
seconded by Mrs. Sims, passed. (See FCR 9 at the end of the Minutes.)

       Q.    Establishment of an Endowed Professorship in Neosurgery in
the Department of Surgery of the College of Medicine (FCR 10)

       Mr. Hardymon stated that FCR 10 is the establishment of an endowed
professorship in Neurosurgery in the Department of Surgery of the College
of Medicine. He said that the clinical faculty of the Division of
Neurosurgery have given $126,000 to this professorship, and the remainder
of the funds will come from private gifts from alumni, friends,
corporations, and foundations. He made a motion for approval of FCR 10.
Mrs. Weinberg seconded the motion, and it carried. (See FCR 10 at the
end of the Minutes.)

       R.    Resolution of the Board of Trustees of the University of
Kentucky Accepting the Successful Bid for the Purchase of $38.870.000
(Plus or Minus up to $3.885.000) of Universitv of Kentucky Consolidated
Educational Buildings Refunding..Revenue Bonds. Series En J. and L (Second
Series). Dated January 1. 1994 (FOR 11)

       Mr. Hardymon said that this is probably the last in the series of
educational bond refundings. He reported that seven bids were received
and that Goldman, Sachs & Company submitted the lowest bid at 4.7424%.
He noted that the cumulative savings over the life of the bond issue is
$1,750,000, and the annual savings is $97,532. He moved approval of FCR
11. The motion, seconded by Mr. Shoop, passed. (See
FCR 11 at the end of the Minutes.)

       Governor Breathitt praised everyone involved with the bond
refunding program. He said that they had done an excellent job in
generating a lot of savings to the state and expressed thanks for their
good work.

       Mr. Hardymon complimented all who were involved with the paperwork
and administrative details involved in the transactions. He reported
that through January 25, 1994 the annual savings were $792,549.

       S.    A Resolution of the Board of Trustees of University of
Kentuckv Autgihrizing the Issuance of Said Board's Housing and Dining
System Refunding Revenue Bonds. Series N. to be Dated the First Day of
the Month in Which Issued or SoUL Authorizing Proper Proceedings
Relative-to the Public Sale of the Bonds and the Disposition of the
Proceeds Thereof: Authorizing Execution of a Sixth Supplemental Taunt
Indenture Between the Board and Farmers Bank & Capital Trust Company,
Frankfort. Kentucky, as Trustee. in Compliance with the Provisions of the
Trust Indenture Dated June 1. 1965 (FCR 12)



       Mr. Hardymon moved that the Board approve the Resolution
authorizing the issuance of University of Kentucky Housing and Dining