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Part of Minutes of the University of Kentucky Board of Trustees

6 recommendation made in FCR 5. On motion by Mr. Hillenmeyer, seconded by Mrs. Blazer and passed, the recommendation in FCR 5 was approved as pre- sented. (See FCR 5 at the end of the Minutes. ) Q. Resolution Accepting the Successful Bid on $4, 489, 000 of University of Kentucky Community Colleges Educational Buildings Revenue Bonds, Series B Thereupon, Mr. Robert Hillenmeyer introduced, caused to be read and moved the immediate adoption of a resolution entitled: A RESOLUTION Accepting Successful Bid on $4,489, 000 of University of Kentucky Community Colleges Educational Buildings Revenue Bonds, Series B, a true copy of which was presented to the meeting at which such resolution was proposed and a true copy of which is attached to these Minutes. The motion for the adoption of said resolution was seconded by Dr. N. N. Nicholas. After full discussion, the Chairman put the question, and upon call of the roll, the vote was recorded as follows: Voting "Aye": Mr. Albert G. Clay, Mrs. Rexford S. Blazer, Mr. Thomas P. Bell, Governor A. B. Chandler, Mr. Richard E. Cooper, Mr. George W. Griffin, Mr. Robert H. Hillenmeyer, Mr. B. Hudson Milner, Dr. N. N. Nicholas, Mr. James H. Pence and Mr. Floyd H. Wright. Voting "Nay": None. The Chairman then announced that the resolution had been duly adopted and was in full force and effect. R. Investment Policies Adopted (FCR 7A, B, C, D, and E) Mr. Hillenmeyer called attention to FCR 7 which consisted of four parts distributed to members of the Board of Trustees in advance of the meeting and a fifth part which was added to the investment policy recommendations at the meeting of the Finance Committee on the morning of December 8. He suggested that these five parts of a new investment policy be considered as a "package" and acted upon at the same time. After some discussion of the implications involved in the proposed policies, the question was called for by the Chairman. Dr. Nicholas moved adoption of the investment policies as recommended in FCR 7A, B, C, D, and E. His motion was seconded by Dr. Sears. All present voted "aye" on 7A, B, C, D, and E with the exception of Mr. Milner, who requested that the record show he voted "aye" on 7A, B, C, and D and abstained from vote on 7E