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[6]

Part of Minutes of the University of Kentucky Board of Trustees

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5 M. Audit Reports Accepted (FCR 2) The Finance Committee having examined the audit reports of the affili- ated corporations of the University as submitted by the firm of Peat, Marwick, Mitchell and Company recommended their acceptance by the Board of Trustees. Mr. Hillenmeyer moved such acceptance and his motion was seconded by Mrs. Blazer. All present voting "aye", the financial statements of the University of Kentucky Research Foundation, the University of Kentucky Athletic Associ- ation, and the Fund for the Advancement of Education and Research in the University of Kentucky Medical Center for the fiscal year ending June 30, 1970 were accepted as submitted by the firm of Peat, Marwick, Mitchell and Company. (See FCR 2 at the end of the Minutes. ) N. Utilities Construction Authorized (FCR 3) Mr. Hillenmeyer explained that the action recommended in FCR 3 would permit the construction of chilled water lines and electrical service to serve a Multi-Discipline Research Laboratory and the inter-connection of the Medical Center Heating Plant and the Upper Street Heating Plant. The Finance Com- mittee has reviewed this request for an appropriation of $1, 300, 000 from General Obligation Bonds to cover this construction and recommended approval. Mr. Hillenmeyer so moved. His motion was seconded by Mr. Wright and passed. (See FCR 3 at the end of the Minutes. ) 0. Payment Authorized for Expenses Related to Social Sciences Building Fire (FCR 4) Mr. Hillenmeyer said that under the Resolution creating and establishing a Consolidated Educational Buildings Project of the University of Kentucky, the Trustee must have Board approval for any payments for replacement or repairs. The Finance Committee recommends that the Board of Trustees request payment in the amount of $23, 590 by the Trustee of the Consolidated Educational Buildings Revenue Bonds for expenses related to the Social Sciences Building fire, and that the Vice President for Business Affairs be authorized to execute the necessary documents for this payment. Mr. Pence so moved. His motion was seconded by Governor Chandler and passed without dissent. (See FCR 4 at the end of the Minutes. ) P. Authorization for Bond Trustee to Invest Funds (FCR 5) In order to provide the necessary approval for the Trustee of the University of Kentucky Community Colleges Educational Buildings Revenue Bonds, Series A and B, to invest idle funds, the Finance Committee recommended approval of the