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          President Wethington recognized David Carter and Ruth Galloway who
were in the audience and asked them to stand and be recognized, following
which they received a round of applause.

          X.    Property Conveyance to Kentucky Department of Transportation
- Coldstream Farm (FCR 10)

          Mr. Hardymon stated that the Department of Transportation has
requested title to 8.6 acres along the front of Coldstream Farm on the
Lexington/Georgetown Road (U.S. 25) to enable improvements in the width of
U.S. Highway 25. In addition, the Department of Transportation, as a part of
the highway project, will construct a storm sewer that, in part, crosses the
western portion of Coldstream Farm. He said that the purchase price is
$116,711 for the 8.6 acres and the purchase price of $9,523 for the storm
sewer easement.  He asked Mr. Ed Carter to comment on FCR 10.

          Mr. Carter displayed a map of the property and provided a brief
review of the land that would be involved in the transaction.

          On motion made by Mr. Chellgren, seconded by Dr. Meriwether and
carried, FCR 10 was approved. (See FCR 10 at the end of the Minutes.)

          Y.    A Resolution Authorizing the Issuance of University of
Kentucky Community Colleges Educational Buildings Refunding Revenue Bonds,
Series J. Dated May 1. 1993, of the Board of Trustees of the University of
Kentucky (FCR 11)

          Mr. Hardymon reminded the Board of the successful savings on
refinancing bonds that had previously taken place. He reported that there is
a lot of volatility going on in the interest market and explained the plan
for trying to get additional savings. He noted that five additional
refunding candidates have been identified: three were community college
bonds and two were University System bonds. The University and the financial
advisor will determine on April 22 whether or not to proceed with the sale of
the community college bonds on May 4. It is anticipated that the University
System bonds would be sold later in the year. The Finance Committee
recommends approval of the Resolution. A motion was made by Mr. Wilcoxson
and seconded by Dr. Meriwether to approve FCR 11. The motion passed. (See
FCR 11 at the end of the Minutes.)

          Governor Breathitt expressed his appreciation to Mr. Hardymon for
his leadership and to the members of the Finance Committee for their hard
work. He noted the importance of the Finance Committee and the Investment
Committee to the Board and the University.