Office of the President
                                                  June 19, 1984

                                                  FCR 7







Members, Board of Trustees:

                 LITTLE KENTUCKY DERBY SCHOLARSHIP FUND

Recommendation: that the Board of Trustees authorize the establishment
of a quasi-endowment for the Little Kentucky Derby Scholarship Fund.

Background: The L.K.D. Scholarship was first awarded in 1958 from
proceeds of the first L.K.D. held in May, 1957. Since that time,
one or more $500 scholarships have been awarded yearly to students
who have demonstrated outstanding initiative in contributions to the
University of Kentucky through campus and community involvement. The
L.K.D. Alumni Golf Benefit was added to the L.K.D. activities in 1983.
The golf benefit has made available a larger sum of money for scholar-
ships, amounting to $13,500 currently. An endowment fund is requested
so that these funds may be used in perpetuity to assist deserving
students.



Action taken:  Approved     X

Date:           June 19



Disapproved_

, 1984



Other