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Forest, it is necessary to explore the coal reserves. He explained
that this would be done, if approved by the Board, at the initial cost
of Arch Mineral Corporation. The Finance Committee is, therefore,
recommending approval of this action to determine if the problem
presented to the Board at its March 6 meeting can be resolved possibly
by the exchange of properties. Mr. Rose so moved. Mr. Sturgill
stated that he highly supported the recommendation. In his opinion,
it is a move in the proper direction for the University. He seconded
Mr. Rose's motion for approval and it passed. (See FCR 6 at the end
of the Minutes.)

       S.    Report on Presidential Search Committee

       Mr. Ockerman reported that through April 2, 1990 there had been
38 nominations and nine applications received for the position of
president and responses are coming in steadily. A calendar is being
circulated to enable him to select a date that would provide 100%
Committee attendance. The meeting will be scheduled in late May or
early June.

       T.    Meeting Adjourned

       There being no further business to come before the Board, the
Chairman adjourned the meeting at 1:31 p.m.

                                       Respectfully submitted,

                                       Edythe Jones Hayes
                                       Board of Trustees

(PR's 2, 3A, 4A, 6A and 8A and FCR's 1, 2, 3, 4, 5, and 6 which follow
are official parts of the Minutes of the Meeting.)