xt731z41rx02 https://exploreuk.uky.edu/dips/xt731z41rx02/data/mets.xml Lexington, Kentucky University of Kentucky 19880521 minutes English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1988-05-jun21. text Minutes of the University of Kentucky Board of Trustees, 1988-05-jun21. 1988 2011 true xt731z41rx02 section xt731z41rx02
Minutes of the Meeting of the Board of Trustees of the University
of Kentucky, Tuesday, June 21, 1988.
The Board of Trustees of the University of Kentucky met at 1 p.m.
Lexington time on Tuesday, June 21, 1988 in the Board Room on the 18th
floor of the Patterson Office Tower on the Lexington Campus.
A. Meeting Opened
Mr. Robert T. McCowan, Chairman, called the meeting to order at 1
p.m., and the invocation was pronounced by Professor David Driscoll.
B. Roll Call
The following members of the Board of Trustees answered the call
of the roll: Mr. Robert T. McCowan (Chairman), Mr. Ted B. Bates,
Professor Raymond F. Betts, Governor Albert B. Chandler, Mr. Albert G.
Clay, Professor Mary Sue Coleman, Professor David R. Driscoll, Jr., Mr.
Tracy Farmer, Mr. Lawrence E. Forgy, Jr., Mr. Henry E. Hershey, Dr.
Nicholas J. Pisacano, Mr. James L. Rose, Judge Robert F. Stephens, Mr.
Jerome A. Stricker, Judge Julia K. Tackett, Ms. Cyndi Weaver, Mr. Billy
B. Wilcoxson, and Judge Henry R. Wilhoit, Jr. Absent from the meeting
were Mrs. Edythe Jones Hayes, and Senator Walter D. Huddleston. The
University administration was represented by President David P. Roselle;
Mr. Edward A. Carter, Vice President for Administration; Chancellors
Peter P. Bosomworth, Art Gallaher and Charles T. Wethington; Mr. Eugene
R. Williams, Acting Vice President for Information Systems; and M1r. John
C. Darsie, Legal Counsel.
Members of the news media were also in attendance. Mr. Darsie
reported a quorum present, and Mr. McCowan declared the meeting
officially open for the conduct of business at 1:03 p.m.
C. Minutes Approved
On motion made by Judge Stephens, seconded by Professor Driscoll
and passed, the Minutes of the May 3, 1988 meeting of the Board of
Trustees were approved as written.
D. Student Trustee Recognized
Mr. McCowan expressed appreciation for the contributions made by
Ms. Cyndi Weaver during her tenure as Student Trustee and extended best
wishes on behalf of the Board.
Ms. Weaver introduced Mr. James A. Rose, President-elect of the
Student Government Association, who will serve as the Student Trustee
during 1988-89. She expressed confidence in Mr. Rose's ability to serve
as an effective member of the Board. Mr. Rose was asked to stand and be
recognized, following which he was given a round of applause.
- 2 -
E. President's Report to the Trustees (PR 1)
President Roselle reviewed some of the items in PR 1, calling
particular attention to the following:
1. Merit Scholarships at Million-Dollar Mark
Total merit scholarships for the University this year will
be about $1 million, a significant increase over the
$70,000 in such awards made just five years ago.
The Otis A. Singletary Scholarships worth $23,400 each have
been awarded to thirteen students entering the University
this fall, and six of the eleven are National Merit
Finalists.
Scholarships to 259 freshmen based on merit in the amount
of $370,542 have been awarded this year.
Student interest in the University is growing at the rate
of 10% to 12% as measured by applications and it is also
growing as measured by the confirmation rate on acceptances.
2. Children's Miracle Network Telethon Successful
The Children's Miracle Network Telethon, telecast by
Lexington's Channel 18, raised nore than $133,000 through
the 21-hour telethon for UK Hospital's pediatric program.
3. Equine Library Dedicated in Memory of Horseman Morris
The John A. Morris Memorial Library for equine veterinary
science was dedicated in late May at the Gluck Equine
Research Center. The modern computerized data collection
and distribution center was made possible by a $200,000
gift from Edna Morris, widow of the New York thoroughbred
horse breeder.
4. Two Members of Board of Trustees Honored
Edythe Jones Hayes was the recipient of the Lexington
Optimist Cup, one of the city's leading awards to a citizen
"who has rendered outstanding service to the community,
primarily through volunteer service." Mrs. Hayes was
unable to be in attendance at the Board meeting.
Nicholas J. Pisacano received the John B. Walsh Award of
the American Academy of Family Practice, "for dedicated and
effective leadership in furthering the development of
family medicine." He was the major force behind the
establishment of the American Board of Family Practice.
Dr. Pisacano was then recognized and given a round of
applause.
3 -
F. Personnel Actions (PR 2)
In recommending approval of the appointments and staff changes in
PR 2, President Roselle called attention to the reappointment of
Professor Raymond F. Betts as Director of the Honors Program through
June 30, 1990, and the appointment of Professor Kenneth M. Coleman as
Chairman of the Political Science Department through June 30, 1991.
Chancellor Gallaher reviewed the tenure of Dean Robert Lawson who
is resigning as Dean of the College of Law and Dean Charles Barnhart who
is retiring from the College of Agriculture. He expressed his
appreciation for their many contributions to the University. Dean
Lawson could not be in attendance; however, Dean Barnhart was in
attendance and was asked to stand and be recognized, following which he
was given a round of applause.
On motion made by Mr. Clay, seconded by Mr. Hershey and carried,
the appointments and staff changes recommended in PR 2 were approved.
(See PR 2 at the end of the Minutes.)
G. Proposed Amendment to the Governing Regulations (PR 3A)
It was the consensus of the Board to receive the proposed
amendment to the Governing Regulations of the University of Kentucky for
preliminary consideration. The proposed amendment will be included on
the agenda for action at the next Board meeting. (See PR 3A at the end
of the Minutes.)
H. Appointment of Vice President for Information Systems (PR 3B)
President Roselle recommended that the Board of Trustees approve
the appointment of Eugene R. Williams as Vice President for Information
Systems effective July 1, 1988. He reported that Mr. Williams had been
in the position in an acting role for the past year and that the
University had experienced a year of real progress in the general area
of computing and communications under his leadership. Mr. Williams was
then recognized and given a round of applause. The motion, which was
made by Mr. Wilcoxson and seconded by Mr. Stricker, was voted on and
carried. (See PR 3B at the end of the Minutes.)
I. Vice President for Research and Graduate Studies (PR 3C)
President Roselle reported that Dr. Singletary had earlier
appointed a group called the Committee on the Future of the University.
He stated that the group had emphasized the research mission of the
University and had called upon the administration to elevate the chief
research administrator to the position of vice president. President
Roselle expressed satisfaction in recommending that the Board approve a
restructuring of research and graduate education administration by
moving Wimberly Royster into the position of Vice President for Research
and Graduate Studies, creating a new position of Dean of the Graduate
School, and changing the title of the two sector-based positions from
- 4 -
Associate Dean for Research to Vice Chancellor for Research and Graduate
Studies. Dr. Royster was asked to stand and be recognized, following
which he was given a round of applause. The motion, which was made by
Governor Chandler and seconded by Mr. Hershey, carried unanimously.
(See PR 3C at the end of the Minutes.)
J. Chancellor for the Community College System and University
Relations (PR 3D)
President Roselle reminded the Board that on July 15, 1987 he
assigned additional responsibilities in public and governmental
relations to Dr. Charles Wethington and reported that Dr. Wethington had
done the job very well. He stated that PR 3D recognizes the additional
duty by changing Dr. Wethington's title from Chancellor for the
Community College System to Chancellor for the Community College System
and University Relations, effective July 1, 1988. Governor Chandler so
moved. The motion was seconded by Mr. Stricker and unanimously
carried. Dr. Wethington was recognized and given a round of applause.
(See PR 3D at the end of the Minutes.)
K. Associate Vice President for Administration for Alumni and
Development (PR 3E)
President Roselle reported that Dr. Ray Hornback, Vice President
for University Relations, had resigned effective June 30, 1988, and the
duties of Dr. Hornback's position are being divided between Dr.
Wethington and Mr. Terry Mobley. As shown in PR 3D, Dr. Wethington will
have the responsibility of university relations, and the responsibility
of both alumni and development areas is being assigned to Mr. Mobley.
President Roselle, therefore, recommended that the Board of Trustees
approve a change in title for Mr. Mobley from Director of Development to
Associate Vice President for Administration for Alumni and Development
effective July 1, 1988. Mr. Mobley was asked to stand and be
recognized, following which he was given a round of applause. The
motion, made by Judge Wilhoit and seconded by Mr. Bates, carried. (See
PR 3E at the end of the Minutes.)
Mr. McCowan stated that he had worked with Mr. Mobley for a
number of years on the Development Council and that Mr. Mobley has made
an outstanding contribution to the University's success in the
development area. He also stated that Mr. Mobley is a great man for the
job and reflects well on the University.
L. Acceptance of Gift from the A. Sidney Behrman Trust (PR 3F)
With President Roselle so recommending, Mr. Stricker moved that
the Board of Trustees adopt the resolution regarding the acceptance of a
gift from the A. Sidney Behrman Trust which is attached to PR 3F. The
motion, seconded by Dr. Pisacano, carried, (See PR 3F at the end of the
Minutes.)
5
M. Associate Degree Program in the Community College System -
Hazard Community College (PR 4A)
On recommendation of President Roselle, Mr. Hershey moved that
the Board approve for submission to the Council on Higher Education a
new degree program Associate Degree in Applied Science, Nursing, for the
Hazard Community College. His motion was seconded by Judge Tackett and
passed without dissent. (See PR 4A at the end of the Minutes.)
N. Appointment of Dean of College of Agriculture (PR 5A)
Acting on the recommendation of Chancellor Gallaher and the
Search Committee, President Roselle recommended that C. Oran Little be
named Dean of the College of Agriculture; Director, Agricultural
Experiment Station; and by agreement with the Administrator of the
Extension Service of the U.S. Department of Agriculture, Director,
Cooperative Extension Service, effective July 1, 1988. Chancellor
Gallaher reviewed briefly the credentials and experience of Dr. Little
and expressed his pleasure in recommending the appointment. Mr. Clay so
moved. The motion was seconded by Mr. Bates and unanimously carried.
(See PR 5A at the end of the Minutes.)
0. Appointment of Director, Tobacco and Health Research
Institute (PP 5B)
President Roselle recommended that Dr. John N. Diana be appointed
Director of the Tobacco and Health Research Institute effective July 1,
1988. He reviewed briefly the credentials and experience of Dr. Diana
and indicated his pleasure in recommending this appointment. Dr. Diana
was asked to stand and be recognized, following which he was given a
round of applause. The motion, which was made by Mr. Forgy and seconded
by Professor Coleman, was voted on and carried. (See PR 5B at the end
of the Minutes.)
P. Peat Marwick Professorship in Accounting (PR 5C)
President Roselle recommended that the Board of Trustees
establish in the School of Accountancy, College of Business and
Economics, the Peat Marwick Professorship in Accounting. On motion made
by Mr. Stricker, seconded by Judge Tackett, and carried, PR 5C was
approved. (See PR 5C at the end of the Minutes.)
Q. Thomas C. Simons Professorship in Business Ethics (PR 5D)
President Roselle recommended that the Board of Trustees
establish in the College of Business and Economics the Thomas C. Simons
Professorship in Business Ethics. The motion, which was made by Judge
Tackett and seconded by Mr. Farmer, was voted on and carried. (See PR
5D at the end of the Minutes.)
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R. Naming of University Building (PR 5E)
With President Roselle so recommending, Mr. Clay moved that the
Board approve the name the Rottgering-Kuegel Agricultural Research and
Extension Building for the office/laboratory building located at the
Research and Education Center in Princeton, Kentucky. The motion was
seconded by Professor Betts and carried. (See PR 5E at the end of the
Minutes.)
S. Naming of University Room (PR 5F)
President Roselle indicated his pleasure in recommending that the
Board approve naming Room 110 in the Mining and Mineral Resources
Building the Catesby W. Clay Room. He stated that the Mining and
Engineering Foundation is the direct result of efforts on Catesby Clay.
President Roselle stated that Mr. Clay provided an initial grant of
one-half million dollars in support of the Foundation and continues to
be active on the Board of the Foundation. The motion, which was made by
Governor Chandler and seconded by Mr. Rose, was voted on and carried.
(See PR 5F at the end of the Minutes.)
T. Reorganization of Departments in the College of Allied Health
Professions (PR 6A)
With President Roselle so recommending, Mr. Stricker moved that
the Board approve the reorganization of the eight existing departments
in the College of Allied Health Professions into two new departments,
the Department of Clinical Sciences and the Department of Health
Services, effective July 1, 1988. The notion, seconded by Dr. Pisacano,
carried without dissent. (See PR 6A at the end of the Minutes.)
U. Endowed Chair in the Department of Surgery (PR 6B)
President Roselle recommended that the Board of Trustees
establish in the College of Medicine, Department of Surgery, a fund for
the purpose of endowing a Chair in Surgery. He reported that funding
will come from the Kentucky Medical Services Foundation, Inc. and the
Dean of the College of Medicine has committed funds in the amount of
$375,000, Mr. Forgy so moved. The motion was seconded by Mr. Clay and
carried. (See PR 6B at the end of the Minutes.)
V. Professorship in Surgery (PR 6C)
President Roselle stated that PR 6C is a recommendation that the
Board establish in the College of Medicine, Department of Surgery, a
Professorship in Surgery. The Department of Surgery has committed funds
to establish an endowment to support the professorship in the amount of
$375,000, and funding will be from the Kentucky Medical Services
Foundation, Inc. Mr. Hershey so moved. The motion, seconded by Dr.
Pisacano, carried. (See PR 6C at the end of the Minutes.)
W. Professorship in the Division of Neurosurgery (PR 6D)
With President Roselle so recommending, Mr. Hershey moved that
the Board also establish in the College of Medicine, Department of
7
Surgery, a Professorship of Neurosurgery. The Division of Neurosurgery
and the Dean of the college of Medicine have committed funds to
establish an endowment to support the professorship in the amount of
$375,000, and funding will be from the Kentucky Medical Services
Foundation, Inc. The motion, seconded by Mr. Clay, carried without
dissent. (See PR 6D at the end of the Minutes.)
X. Agreement Between University of Kentucky and Kentucky Medical
Services Foundation (PR 6E)
President Roselle recommended that the Board approve the
agreement attached to PR 6E between the Board of Trustees of the
University of Kentucky and Kentucky Medical Services Foundation, Inc.
which was negotiated pursuant to the "Board of Trustees Resolution
Regarding Medical Practice Plan" adopted on June 20, 1978. The motion,
which was made by Mr. Hershey and seconded by Mr. Wilcoxson, was voted
on and carried. (See PR 6E at the end of the Minutes.)
Y. Change in Order of Agenda
Because of the substantial length of the Finance Committee
agenda, Mr. McCowan changed the order of the agenda and called for
reports from the Academic Affairs and Investment Committees.
Z. Update on Academic Affairs Committee
Professor Coleman reported on the preparation of teaching
assistants in the classroom. She indicated that it had been difficult
for the Committee to generate hard data about language problems with
teaching assistants and stated that the Committee is trying to get a
better measure. An invitation from the Screening Committee was extended
by Professor Coleman to all Board members to attend the screening
sessions to be held August 15 and 20. She explained that additional
information will be brought to the Board as it develops.
AA. Report of Investments (ICR 1)
Mr. Hershey, Chairman of the Investment Committee, moved that the
report of changes made in investments for the University of Kentucky and
its affiliated Corporations for the three months ending March 31, 1988
be accepted. The notion was seconded by Mr. Rose and passed without
dissent. (See ICR 1 at the end of the Minutes.)
BB. George J. Ruschell Recognized
Before beginning the Finance Committee's recommendations, Mr.
Forgy called attention to the upcoming retirement of Mr. George J.
Ruschell. Mr. Forgy reviewed Mr. Ruschell's experience and stated that
Mr. Ruschell had dedicated his entire working career to the well-being
of the University. Mr. Ruschell was asked to stand and be recognized,
following which he was given a round of applause.
8
CC. Acceptance of Interim Financial Report for the University
of Kentucky for the Ten Months Ended April 30, 1988 (FCR 1)
Mr. Forgy reported that FCR 1 is an adoption of the interim
financial report for the ten months ending April 30, 1988. He noted
that the University had received income of approximately $537,534,000
representing 96% of the 1987-88 estimate -- closing out a $560,248,000
year -- and that the magnitude of this responsibility rests with the
administration and the Board. He then moved that FCR 1 be adopted. The
motion was seconded by Judge Stephens and passed without dissent. (See
FCR 1 at the end of the Minutes.)
DD. Acceptance of the Audit for the University of Kentucky
Federal Credit Union (FCR 2)
Mr. Forgy moved that the Board accept the audited financial
statement of the University of Kentucky Federal Credit Union for the
year ended December 21, 1987. He noted that the Credit Union is
operated by its own Board and audited by the University's outside
auditor. He stated that this is a routine report and has been reviewed
by the Controller and Treasurer. The motion, which was seconded by Mr.
Farmer, was voted on and carried. (See FCR 2 at the end of the Minutes.)
EE. Disposal of Personal Property (FCR 3)
On motion made by Mr. Forgy, seconded by Judge Tackett and
passed, approval was given for the disposal of surplus and obsolete
equipment as recommended in FCR 3. (See FCR 3 at the end of the
Minutes.)
FF. Disposition of Surplus Property (FCR 4)
Mr. Forgy moved that the two lots in which the University of
Kentucky owns an undivided one-half interest in Fort Worth, Texas be
declared surplus property and that the Vice Chancellor for
Administration be authorized to sell the lots by sealed bid, public
auction or through a real estate agent. He reported that the property
is in a declining area in Fort Worth creating a limited demand for
residential lots. The motion was seconded by Dr. Pisacano, and passed.
(See FCR 4 at the end of the Minutes.)
GG. Capital Construction Report (FCR 5)
On motion made by Mr. Forgy, seconded by Mr. Clay and passed, the
Capital Construction Report for the nine months ending March 31, 1988,
was adopted. (See FCR 5 at the end of the Minutes.)
HH. Approval of Lease (FCR 6)
Mr, Forgy stated that by a Board resolution the Vice Chancellor
for Administration has the authority to enter into leases below
$30,000. FCR 6 is a lease between the University of Kentucky Medical
Center Finance Division and The Webb Companies which exceeds the $30,000
level and, therefore, must have Board approval. He pointed out that it
is merely a renewal of a lease at the same level for the same space.
Mr. Forgy's motion was seconded by Mr. Hershey and passed. (See FCR 6
at thp And of the Miniutp- )
- 9
II. Approval of Lease (FCR 7)
Mr. Forgy stated that FCR 7 is requesting approval of a lease for
space occupied by the Owensboro Community College. He explained that
the rental rate is low, and the space is to be used until the Owensboro
Community College building is completed. On motion made by Mr. Forgy,
seconded by Judge Stephens and carried, FCR 7 was approved. (See FCR 7
at the end of the Minutes.)
JJ. Report of Leases (FCR 8)
Mr. Forgy moved that the routine report of leases in FCR 8 be
adopted and made a matter of record. The motion was seconded by Mr.
Stricker and passed. (See FCR 8 at the end of the Minutes.)
KK. Establishment of a For-Profit Subsidiary Corporation (FCR 9)
Mr. Forgy recommended that the Board authorize the University of
Kentucky Research Foundation to establish a for-profit subsidiary
corporation with a suggested name of Kentech, Inc. to market research
products and services of a commercial nature in order to further the
University's technology transfer program and other economic development
efforts based on university developed technology. He noted that the
for-profit subsidiary corporation would be operated by a separate Board
somewhat affiliated with the University. Mr. Forgy's motion was
seconded by Dr. Pisacano and carried. (See FCR 9 at the end of the
Minutes.)
LL. Establishment of a Mandatory Fee Policy (FCR 10) and
Adoption of 1988-89 Fee Schedule (FCR 11)
Mr. Forgy referred FCR 10 and FCR 11 to President Roselle with
the understanding that he left a continuing motion on the table that
they be approved.
President Roselle stated that after the consideration of student
fees at the last Board meeting, a decision was made to direct the
President to develop a policy for changes in mandatory fees. He
reported that the proposed policy will consist of an annual inspection
of student fees. He indicated that the proposed policy has been
discussed with the Student Government Association, and they are in favor
of it. He also stated that the Student Government Association will be
involved in developing such a policy which will be similar to the one
setting tuition fees for Kentucky residents. On motion made by Mr.
Forgy, seconded by Judge Tackett and carried, FCR 10 was approved. (See
FCR 10 at the end of the Minutes.)
M1s. Weaver reminded the Board of her request at the last meeting
which was to allow her the opportunity to discuss fees with students.
She stated that this opportunity was very valuable and proceeded to pass
out a resolution which had been approved by the Student Government
Association. She cautioned the people who would be discussing fees
10 -
charged at comparable institutions because universities use their
student fees very differently. She indicated that she had not found a
benchmark institution where the Student Government takes less money from
their students than UK and cited examples.
President Roselle stated that Mr. Forgy had moved approval of FCR
11 and stated that he had nothing to add. The motion was seconded by
Mr. Stricker and carried. (See FCR 11 at the end of the Minutes.)
MM. Conceptual Plan for the Use of Coldstream Farm (FCR 12)
Mr. Forgy stated that FCR 12 relates to the conceptual plan for
the use of Coldstream Farm. He reminded the Board that on December 8,
1987 the Board resolved that it would not sell Coldstream Farm and
authorized the administration, through a committee consisting of Mr.
Rose, Mr. Farmer, and himself, to devise a plan by which the University
could maximize the value of Coldstream Farm to the institution. He
reported that the conceptual plan has been developed by MPC, Inc. which
is a consulting organization in Washington, D.C. and introduced Mr.
Michael Cur7.an, President and Ms. Marilyn Swinford. Before asking Mr.
Curzan to discuss the plan, the processes they went through, and their
recommendation, Mr. Forgy pointed out that FCR 12 does two things: (1)
adopts the conceptual plan and (2) authorizes the Vice Chancellor for
Administration, Dr. Blanton, in conjunction with MPC, Inc., to begin
negotiations for the selection of a developer that would be approved by
the Board of Trustees.
Mr. Curzan indicated his pleasure in speaking to the Board on
this extremely important program and set of activities. After briefing
the Board about the organization's background, he reported that they
began the project with data gathering and interviewing and explained the
process. He stated that they met on an individual basis with 100-125
people from the campus, the community and governmental agencies, and
that there was an enormous amount of loyalty to the institution. He
reported that after several months into the process, an interim report
was developed and submitted to the administration, at which time changes
were made.
Mr. Curzan stated that there was no opposition to retail. There
was, however, a concern that it be placed in a plan so it would not
detract from the mission of utilizing this property for University
related purposes. He indicated there was a rather broad consensus for
phasing out, not necessarily immediately, the operating farms from this
property and moving them elsewhere. He continued that there was the
concept of the University continuing in an active role with the
developer.
Mr. Curzan then explained that this was put within several
working assumptions. One of the first and most important was not to
sell the property but to work through a series of leases. This property
would be used in the context of increasing the educational mission. He
pointed out that one of the things extremely important to remember is
that the words "educational mission" and "profitability" are not
necessarily inconsistent. Parcels can be used in a way which can
substantially benefit the institution. They can be generators of
revenue and not revenue losers. He added that there was a very strong
set of assumptions to use the land in a way to strengthen relationships
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between the University, the city and the state, and this property would
be viewed within the context of a long-time horizon. Mr. Curzan added
that the strategic location of this property was in fact a gateway;
therefore, emerging the theory of a gateway -- not only to the
University but to the city as well.
Mr. Curzan reported on the various facilities and addressed the
importance of a continuing education center. He noted that this type of
center carries out a mission that provides training on an on-going basis
to people on both a state and regional level. He pointed out that they
do not necessarily compete with hotels. He continued reviewing other
facilities such as research, honor high school, University offices and a
repository for other types of governmental office buildings.
He then noted that the retail facilities would be located near
Georgetown Road and indicated that there would be a need for additional
traffic planning as well as an interchange. He explained that this
concept had been tested on the development community, and there is an
interest.
Mr. Curzan concluded his remarks by stating that working on the
conceptual plan had been a very pleasurable process. The legacy for
this property is substantial, and it can have enormous benefits for the
institution and its growth.
Following Judge Stephens' question regarding a commitment from
state or federal government for an interchange, he stated that he wanted
to make sure that there is a full disclosure of the impact and
obligations to the city, state and federal government.
Governor Chandler reported that 32 years had passed since he
bought Coldstream Farm for $1,200 an acre and there had been a move to
sell the farm, letting the proceeds go to the general fund of the
Commcnwealth. He emphasized that the farm was bought and given to the
University and any money that comes as a result of a decision about the
property must go to the University. The property is a valuable asset to
the institution and needs to be protected. He pleaded with the Board to
guard the plan.
Mr. McCowan commended Governor Chandler on his foresight many
years ago to buy this beautiful and valuable property. He gave Governor
Chandler his assurance that the Trustees would protect the land and
always have it available to the University.
Dr. Pisacano stated that in addition to commending Governor
Chandler's foresight, the committee, the administration, the staff and
Mr. Curzan are to be commended for the fine presentation. He expressed
his excitement about the excellent plans and suggested that a committee
be appointed to safeguard the University. He then moved that the report
be accepted.
- 12 -
Mr. Forgy explained that there were two matters that should be
brought before the Board: (1) there has been no closing out of the
developers, and (2) there is a continued commitment on the part of the
institution to relocate the animal sciences services that are now being
conducted on Coldstream Farm. There has to be, however, the development
of the commercial facility to provide the money for the move.
Therefore, the entire development is to a large extent contingent upon
the development of the retail space. Also, without the cooperation of
the state and the city, it will be impossible to make this a success
from an economic standpoint. He continued that there must be people who
are willing to invest substantial private funds in the facility in order
for the project to go forward. Mr. Forgy reiterated his motion that FCR
12 be adopted.
Mr. Farmer reviewed the natural progression of the process
stating that the project would go to the committee on Coldstream Farm,
the Finance Committee and then to the Board as a whole. Mr. McCowan was
in agreement.
On motion made by Mr. Forgy, seconded by Dr. Pisacano and passed,
FCR 12 was approved with Judge Stephens abstaining. (See FCR 12 at the
end of the Minutes.)
NN. Operating Budget for 1988-89 (FCR 13)
Mr. Forgy stated that the Operating Budget was the most important
action taken at any Board meeting on an annual basis. He stated that
the Operating Budget for 1988-89 had been discussed with members of the
Board and the Finance Committee. He then deferred the budget matter to
President Roselle.
In opening his remarks, President Roselle stated that he
presented it with mixed emotions. He reported that it was not an
entirely positive budget, and it will leave the University with
difficult financial problems. Also, he said, it does not represent the
commitment that the administration feels it must have from the
Commonwealth of Kentucky