xt798s4jmm1h https://nyx.uky.edu/dips/xt798s4jmm1h/data/mets.xml Lexington, Kentucky University of Kentucky 19600216 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, 1960-02-mar16-ec. text Minutes of the University of Kentucky Board of Trustees, 1960-02-mar16-ec. 1960 2011 true xt798s4jmm1h section xt798s4jmm1h 









          Minutes of the Meeting of the 'Executive Committee of the Universi-
ty of Kentucky March 16, 1960.


          The Executive Committee of the University of Kentucky met in
the President' s Office on the campus of the University at 10:35 a. m. EST,
Wednesday, March 16, 1960, with the following members present: R. P.
Hobson, Chairman; Harper Gatton and Dr. Ralph J. Angelucci. President
Frank G. Dickey and Secretary Frank D. Peterson met with the Committee.



          A. Approval of Minutes.

          Upon motion duly made, seconded and carried, the minutes of the
Executive Committee of January 22, 1960, were approved as published.



          B. Report of the Treasurer.

          Mr. Peterson made financial report for the period ended February
29, 1960. The report contained a balance sheet and related financial state-
ments which presented a complete financial picture of the period for all funds
of the University. Mr. Peterson called attention of the Committee to the
balance sheet and the unappropriated surplus of the Division of Colleges which
represented a deficit of $10, 121. 00. He stated that the General Fund for
the Division of Colleges was over-appropriated and there would be enough
balance as of June 30 to show the account in balance, but thlat this represent-
ed an exceedingly close margin to operate an institution the size of the Uni-
versity. He called attention of the Committee to the Balance Sheet for Plant
Fund and, especially, read the statement concerning investment in plant:



Invested in Plant
   Land
   Buildings
   Equipment
   Construction in Progress



Total Invested in Plant



         He also invited the attention of the
of the same section,

         Invested in Plant
             Bonds Payable
             Due to Other Governmental
                    Units
             Net Investment in Plant



Total Invested in Plant



$ 3, 213, 336. 23
39,490,962. 00
11, 135,905. 36
21, 545, 252. 88



$73,385,456.47



members to the Liability sheet



  $12,874,500.00

       67, 201. 00
   62, 443, 755. 4 7

                  $7 5, 385,456.47




 




2



          Mr. Peterson reported that thie estimated income from student
fees for thE iiscaI year 1959-60 WOulid not be realized and, at this time, he
estimated the decrease to approximalte $75, 000. 00.

          The Committee examined tile report, and upon motion duly made,
seconded and carried, authorized the report received and filed.



          B. American Cyanamid Compan; ContractApproved.

          Mr. Peterson reported a request of the American Cyanamid Com-
pany that their contract with the Agricultural Experiment Station for the
calendar year 1959 be renewed for the calendar year 1960. He related that
the contract had to do with research for evaluation of potential compounds
used in the control of bloat. The contract provides for a grant of $2, 000 00
to help defray the expenses of the research work during the year.

         Mr. Peterson recommended that a contract be approved and au-
thorized. Upon motion duly made, seconded and carried, the contract was
approved and authorized executed.



         C. Paid and Cancelled Principal Bonds and :interest Coupons Destroyed.

         Mr. Peterson related that the Board had authorized Mr. George R.
Kavanaugh and Mr. Clay Maupin to destroy by incineration paid and cancelled
principal bonds and interest coupons July 1, 1958 to June 30, 1959. He sub-
mirted a certificate showing that the documents had.been destroyed, submitted
a list and requested that the Minutes contain the record.



            UNIVERSITY OF KENTUCKY
                Revenue Bond Issues
Paid and Cancelled Prmncipal Bonds and Interest Coupons



Maturity Da.te



Principal Bonds



      Interest Coupons
No.   on Bonds (inclusive)



University Building Revenue Bond-Sept. 1, 1939
   PIand P. W.1 A.  

   March, 1, 1958



September 1, 1958
Ma.rch 1, 1959



170-176
177.- 183



First P. W. A. Refunding BondJuly 1, 1945
    l7uy , 1957
    January 1, 1958
    July 1, 1958           332-365

Dormitory Revenue BondJune 1 1946 (Bowman
                          1!)
    December 1, 1957



June 19 1.958
December 1, 1958



116-129



39   198-204,212,236-242
     267-274
40   170-265, 267-3 16
41   177-197, 205-Z34,
     238-265, 275-3 16



24   429, 430
25   332-507
26   332-428,



43 1-507



23   264, 265, 270-279,
     294-303, 363-372
24   116-430
25   130-255, 261, 262
     (continued on next page)




 





3



266-285, 287-36Z,
373 -430



Librar aand Service Building Revenue Bond-April


   October 1, 1957



April 1, 1958



178-201



October 1, 1958



April 1, 1959



215-231



1, 1949
16 -17, 218, 221, 241,
     242, 293, 294
17   178-182, 216-218, 221,
     241, 242, 264-266,
     283-285, 293, 294
18   178-201, 205-216,
     219-240, 249-273,
     276-279, 283-292,
     296-490
19   205-242, 249-253,
     255-263, 267-273,
     276-279, 283-292,
     296-490
20   215-231, 237, 238,
     249-253, 255, 256,
     259-263, 269-273,
     281, 282, 286, 287,
     291, 292, 296-305,
     318-334, 340, 341
     354-486



Stadium Addition Revenue Bond-April 1, 1949
   April 1, 1957          120



October 1, 1957
April 1, 1958



12 - 135



16

17
18



    October 1, 1958                          19



Journalism Building Revenue Bond-January 1, 1950
   Janary 1, 195        78-81



July 1, 1958
January 1, 1959



17
18



89 -99



171-175,
201-205
121-3 00
121- 160,
176- 185,
206-3 00
136- 160,
176- 185,
206-300



186-19 0,


163 - 170,
19 1-200,

163- 170,
19 1-200,



78-121, 132-151,
154, 173, 176
89 -154, 165-225
89-154, 165-192,
175., 177-225



Dormitory Revenue Bond (456 Rose Street) October 1, 1950
  Apr_                                      13 9_ ,  107, 108
    October 1, 1957                           14   99, 105-119
    April 1, 1958                             15   35-106, 109, 114-149
    October 1, 1958        35-39              16   35-104, 120-149
    April 1, 1959                             17   40-49, 95 -99

Dormitory Revenue Bond (476 Rose Street) December 1, 1950
   December 1,19                             14   4, 45, 46, 69
   Ju-ne 1, 1958                             15   1542, 44-46, 48-76
   December 1, 1958       15-16              16   15-42, 44-46, 48-76



153,


174




 








Dormitor, Revenue Bond-July 1, 1952-Donovan Hall
---7Ti~a'_rT_ 1, 195811
   July 1, 1958         61-80            12
   January 1, 1959                       13



Dormitory Revenue Bond-July 1, 1953
  (Dormitories A, B, C, , E,F)
  'Tbbe   r 1, 1955
  May 1, 1956
  November 1, 1956
  May 1, 1957

  November 1, 1957



May 1, 1958



47-62



November 1, 1958



5   282-330
6   282-330
7   282-330
8   214-220, 282-330,
    344-348, 563 -56 5
9   214-220, 239240,
    282-330, 344-348,
    370 -373, 383 -387,
    413, 470, 554-557,
    563-5 65, 569 -571,
10  47-213, 271-281,
    331-356, 358-412,
    414-562, 566-569,
    572-7i0
11  63- 15 1, 153-158,
     168-213, 221-281,
     3333-343, 349-369,
     374-412, 414-562,
     566-569, 572-586,
     592-670, 672-710



Dormitory Revenue Bond-May 1, 1954-Keeneland
   NIovember 1, 1956
   May 1, 1957



November 1, 1957
May 1, 1958
November 1, 1958



11-21



   May 1, 1959

Dormitorv Revenue Bond-June 1, 1955
cooperstownmprtments
  Decmer I, 9
  June 1, 1956



  December 1, 1956



Hall
n   311, 312
6   134-.37, 226, 227
     229 - 238, 258-261,
     291, 293-297, 299-301,
     311, 312, 349-358
 7   11-44 7
 8   134-722
 9   2 2.256, 258-3 10,
     3 13-722
10  448 - 722



1  345-349, 1214-1 218
2   345-349, 910-912
     1119-1128, 1214-1218,
     1861- 1881, 1961-1970,
     1978, 1979, 2067-2082
 3   345-349, 910-912,
     1] L9. 1128, 1214-1218,
     1861-1879, 1984, 1985,
     2067^-2082, 2089-2091,
     2093



4



61 -1255
61-1255
8i-1255



671




 





5



June 1, 1957



December 1, 1957









June 1, 1958



4    345-349, 417-421,
     756, 785, 910-912,
     975-984, 1119 -1128,
     1214-1218, 1861-1881,
     1961-1970, 1978, 1979,
     1984, 1985, 2067-2091
     2093, 2731, 2754, 2755
5    345-349, 417-421, 590,
     756, 785, 800-803,
     910-912, 975-984,
     1119-1128, 1214-1218,
     1702, 1860-1881, 1946,
     1947, 1961-1970, 1978,
     1979, 1982-1985,
     2067- 2082, 2089 -2091,
     2093, 2208-2213, 2731,
     2754, 2755
6    330-349, 352-361,
     401-410, 416-421,
     432-451, 467-479,
     485, 486, 490-494,
     530-561, 574-578,
     590-606, 633-672,
     678-687, 693-700,
     702, 733-735, 738-785
     790-803, 820, 824-838,
     847-853, 864-888,
     910-912, 926, 927,
     975-997, 1013-1022,
     1043-1047, 1053-1062,
     1103, !.04, 1106,
     1119-1128, 1175, 1176,
     1181-1189, 1194-1199,
     1214-1218, 1244-1247,
     1249-1251, 1264-1273,
     1301-1310, 1325,
     1330-1355, 1393, 1394,
     1398-1415, 1418-1420,
     1423-1425, 1445-1452,
     1487-1511, 1539-1543,
     1546-1560, 1.596-1601,
     1623-1625, 1628-1632,
     1658-1660, 1663-1687,
     1693-1700, 1702.,
     1718-1722, 1748-1786,
     1790, 1793-1802, 1841,
     1843-1881, 1887,
     1902-1911, 1937, 1946,
     1947, 1961-1970,
     1978-1980, 1982-1988,
     2006-2010, 2052, 2053,
     2067-2082, 2089 -2091,
     2093, 2113-2118,
     2144-2155, 2176, 2177,




 





6



Dormitory Revenue Bond-June 1, 1955 (continued)
(,ooperstown Apartments
    June 1, 1958






    December 1, 1958



June 1, 1959



64-102



6    2.Z03, ZZ04, 2208-2213,
     2219-2268, 2328-2345,
     2391-2415, 2441-2456,
     Z487-2506, 2557-Z576,
     2582-2586, 2647-2727,
     2731, 2732. 2735-2737,
     2754-2774, 2784-2793
7    64-416, 422-479,
     485-701, 703-974,
     985-1354, 1357- 1409,
     141U1-1425, 1430-1555,
     1557-1701, 1703-1936,
     1938-1 98, 1986-2041,
     2043-2082, 2093-2340,
     234.3-2586, 2589-2795
8    64-3 18, 320-329,
     350-415, 422-426,
     432-479, 487-489,
     495-499, 515-529,
     540-544, 546-548,
     562-573, 579-590,
     592-619, 630-667,
     67:3-677, 688-692,
     700, 701, 703-732,
     736, 737, 743, 744,
     748-792, 804, 810-819,
     8Z1-8128,3, 839-846,
     854-863, 889-909,
     9 13-9.5, 928-974,
     995-1007, 1028-1037,
     1.053- : 0s, 1105, 1h07,
     1108, 1115 I118,
     Lt29-174, 177-1180,
     1190-1.93, 1195,
     1200-1 -,: 3, .219-1243,
     12.48, 1252-1263,
     1274-.1.300, 1311-1324,
     1326-TL29, 1357, 1358,
     1360-1' 374, 1 380-1387,
     1395i1397, 1430-1436,
     1442-1444, 1462- 1486,
     1512 -I'38, 1544-1555,
     1 5O-'6    1 0 t, 1602-16 12
     t1626, 1627, 1633-1657,
     1663-1677, 1693-1697,
     1708-1747, 1775, 1776,
     1803-1840, 1892-1901,
     1912-1936, 1938-1945,
     1948-1 1960, 1996-2005,
     2011-2037, 2040, 2041,
     2043-2046, 2048-2051,
     2098_2 07, 2119-2143,
     21.56-2179, 2182-2202,




 









Dormitor Revenue Bond-June 1, 1955 (continued)
oope rs townpa rtment s
   J1 une 1,2 1959 t64-102 (continued        8



2205 .2207,
2319 -2327,
2345-2390,
2487-2556,
2589-2646,
273.3 2734,
2775-2788,



2269 -2317,
2338-234 0,
2416-2435,
2577-2581,
2728 -2730,
2738-2753,
2793-2795



Dormitory Revenue Bond-1956-Holmes Hall
   December 1, 1958
   June 1, 1959          1-17



Called for payment
   February 1, 1959



1088-1137



Dormitory Revenue Bond of December 1, 1956

   June 1, 197-
   December 1, 1957
   June 1, 1958          1-10



   December 1, 1958



5    1-1131
6    1-1087


Coupons 6 and subsequent attached.



1    183, 762, 763, 764
2    59-61, 537, 762-764
3    1-158, 167-182,
     184- 192, 194-657,
     659, 660, 662-814
     817-9 00
4    11-158, 167-182,
     184-192, 194-594,
     603-657, 659, 660,
     662-814, 817-853,
     855-900.



Housing Revenue Bond of
   October 1, 198
   April 1, 1959



1956 -Shawneetown



4    1-2156
5    1-2156



Called for Payment



2091 -2156



Coupon 6 and subsequent attached.



Dormitory Revenue Bond
    June 1, 1957

    December 1, 1957

    June 1, 1958

    December 1, 1958


Dormitory Revenue Bond
   May 1, 1958


   November 1, 1958



of 1956 (338 Clifton Ave. )



1,2  



1    1-138, 140-142,



     144- 150
2    1-138, 140-142,
     144- 150
3    1-138, 140-142,
     144- 150
4    3-25, 29-138,
     140-142, 144-150



of November 1, 1957 (468 Rose Street)
                      1    1-23, 25-28,
                           31-36, 39-82,
                           86, 88-100
   1-4               2    1-11, 13, 14,
                           31-36, 39-82,
                           86, 88-100.



85,

17-28,
85,



7




 





8



          On rnoLion duly made, seconded and carried, the document was
authorized put to record.



          D. Dormitory Room Rates Adjusted.

          Mr. Peterson submitted recommendation of Dean Seward, Dean
Martin and Mr. George R. Kavanaugh to fix the room rates for the summer
session in the women' s residence halls to comply with the rates recommend-
ed by the Federal Housing and Home Finance Agency.  He stated that the
rates would be

                            Double - $62. 50 per session

                            Single - $80. 00 per session.

He also stated that Dr. Martin had suggested a. $2. 00 increase in the rates
for menv s dormitories to make them conform with existing rates, and recom-
mended $50. 00 per session for double rooms.  There are no changes in single
rorom rates.

          Mr. Peterson stated that the University had obligated itself to fix
these rates when it secured a negotiated loan from the Federal Housing and
Home Finance Agency for the construction of Holmes Hall, and stated that
this recommendation was to comply with the previous agreement.

          Upon motion duly made, seconded and carried, rates for the summer
session of eight weeks were fixed as follows:

                                               Men      Women

                            Double           $50. 00    $62. 50

                            Single             --        $80. 00




         E. Injuries.

         Mr. Peterson submitted the following letter from Mr. George R.
Kavanaugh recommending pa yment of claims incident to injuries to four
employees:


                                             February 10, 1960

         Mr. Frank D. Peterson
         Vice President
         Business Administration
         University of Kentucky

         Dear Mr. Peterson-



This is the report of several accident cases which




 





9



have been referred ttrough the department heads with recorn-
mendation that they be considered by the Board of Trustees
and the expenses involved be 2pproved for payment. The cases
are as follows.

1. Mr. F. B. Ha.lfhill, a.nmloe  in. the Division of Maintenance
       and 6Opera. tions

       On September 3, 1959, in laying shea.thing on the roof at
154 Bonnie Bra.e Drive, Mr. Halfhill rubbed a blister on one
knee. He did not regard it as serious and did not report to the
Health Service. It became infected a few days later and on
September 8 Dr. John S. Sprague had him report to the Good
Samaritan Hospital for treatment, which included an incision
and drainage of the right knee, with other postoperative care
for several weeks thereafter. Mr. Ha.lfhill paid a sizeable bill
for the days he was confined to the hospital, but these are the
bills which the Division of Maintenance and Operations is recom-
mending for approval for payment:

       Good Samaritan Hospital, dated 9/29/59    $15. 00
       Dr. John S. Sprague, dated li/19/59       .50. 00
       Tota-l


2. Mr. G. B. Snellinv . an employee in the Dearment of Horticulture.

       This accident occurred on January 8, 1960, while working
on the Agricultural Experiment Station farrnm  This employee is a
tractor operator and was working in the apple orchard.  While
pulling a. tree a wire stuck into his arm. He did not go to the Dis-
pensary, thinking that the accident was not sufficiently serious;
however, in the evening the arm began to hurt, He went to Dr.
Arnold C. Williams, a Driva.te physician, who gave him treatment
consisting of three x-rays, penicillin, etc.

       T'.h.e bill rendered by Dr. Williams is in the amount of $17. 50,
and is the amount recommended for payment.


3. Mr. James R. Potts, an emplo ee in the Division of Maintenance
and Oe 'ka.I ns  
       On eptem-ber 11, 1959, Mr. Potts tripped on the steel riser
plate at the top of the steps to the entrance of the Maintenance
Building, falling six steps to the ground level.  He was badly shaken
up, hurting his left arm and wrist. His head hit also on the concrete.
On reporting to tAe Health Service, x-rays were taken to make sure
he had no fractures,

       Cost of the x-rays on the basis of the bill submitted by the
Health Service totsls $24. 00. It is recommended that this amount
be paid.




 





10



          4 :I connection wirli the replo-r\ in r-he minutes of the Board of
          T. rustees, d idled December I. 1959, Section K, Paragraph 6,
          relative to a.n -iccident to Wilmore Kirkland, an employee in
          the Division of Maintenance and Operations, a correction of
          fact. is to be requested. The charge for $10. 00, approved for
          Dr, John S. Sprague, was in error.  Payment of this amount,
          the reading of the x-ray; and examination of the patient, is
          due .:o the Lexington Clinic for the services of Dr. T. R.
          Miller. Payment has not been- received by Dr. Sprague, and with
          this correction payment of the $10. 00 will be made to the Lexing-
          ton Clinic where the service was rendered.

                 Of you find these to be in order, please present these
          accident cases for consideration by the Board of Trustees. If
          approved for payment, recommendation is that approval be given
          on the usual condition that the University recognizes no responsi-
          bility of negligence in connection with these accidents and txhat
          the arprol.a-.l for payment establishes no precedent.

                                                Sincerely yours,

                                 Signed        George R. Kavanaugh





          Mr. Peterson, having read the letter, recommended that the claims
be paid.  Upon motion duly made, seconded and carried, the invoices from
the Good Samaritan Hospital. in amount of $15. 0:and from  Dr. John S.
Sprague, in amount of $50. 00, for services rendered F. B. Halfhill; the bill
rendered by Dr. Arnold C. Williams in amount of $17. 50 for services rendered
G. B. Snelling. and the bill rendered by the Health Service for x-ray supplies
used for James R. Potts. in, amount of $24. 00, were ordered paid, without
establishing a. precedent or admitting negligence on the part of the University.

          The minutes of December 15, 1959, Section K, paragraph 6, were
corrected to akuthJ.orize payment of $10. 00 to the Lexington Clinic for services
of Dr. T. R. Miller for x.ray and examination of the patient, Wilmore Kirk-
land, instead of authoriz.;ng payment made to Dr. John S. Sprague.


          F. Budget. Adjustments.

          President Dickey submi.Jted a. budget for the Department of Personnel
for non-teaching and researc.h staff for the period February 1 to June 30, 1960,
and recommended tha.t the sum of $18, 01.6 00 be appropriated to activate the
office of the Personnel Department and to pay salaries of employees for the re-
mainder of the current fiscal year.

          He also recommended that t1he sum of $120. 00 be appropriated to
Account 130 1Foreign Student-s) to purcha se supplies needed for Dr. A. E. BiggeT s
office. He sta.ed that Dr. Bigge is in charge of all foreign students on the campus
and it is necessary to purcha..se sta~tio.nery, envelopes and other office supplies
incident to conducting the administ.ra.tive work for the Foreign Students program.




 





11



          President Dickey recomrn~^ded an increase in appropriation for
Account 3725 imo, arnQunt of $5Z6. 00 to tk,- ke care of the payment for the dinner
for the [960 Legislators who visited the campus and to take care of a few
complirnent.y tickets given to the Sou'hern Legislative Work Conference at
the t:ime of the visit to the 'niversity.,

          Upon motion duly made, seconded and carried, the recommenda-
tions were concurred in and the necessary budget adjustments were authorized.



          G. Liquijda'J2ion of Securities and Investment of Funds Reported.

          Mr. Peterson stated that 1--e ha-d made adjustments in securities held
by the University and two Foundations in order to increase the income from
these investments and requested permission to report the securities and in-
vestments m.:-.de for the University and Foundations for permanent record pur-
poses and authorization.


                                             February 23, 1960

     President Frank G. Dickey
     Universitv of Kentucky

     Dear President Dickey:

     The attached schedule shows securities of the Thomas Poe Cooper Agri-
     cultural Foundat-ion which have been liquidated. These funds have been
     invested temporarily wit" the General Motors Acceptance Corporation
     on 5 1/4 fo interest baisis,

     The a-ttached schedule shows securities of the Kentucky Research Founda-
     tion which. have been liquidated, The proceeds of these securities, in
     the amount of $38p89l 1 88, (plus $33,I08, 1Ovhave been invested in the
     Genera.l Motors Acceptince Corporation on 5 1/4% interest basis. This
     has materially increased th..e earned income from these monies.

     The attach.ed sc.edule shows University of Kentucky securities which
     have been liquidated. The following armounts have been temporarily invest-
     ed with th4e Genera.l- Motors Acceptance Corporation with th.e following
     interest yields;

         Restrict.ed Funds        $ 759000           5-1/4%6
         Restricted Funds         $500,000          4-1/4%6
         Endowment Funds          $ 94 100          4-3/4%
         Agency Funds             $ 25 000           5 -1/4%6
         Bennett Bequest          $  1 400          4-3/4%
         Crum Bequest             $  1,500          4-3/4%

                                             Very truly yours,

                                  'Signed)  Frank D. Peterson
                                             Vice President
                                             Business Administration




 






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18



          Mr. Peterson recommended that the action of the Vice President,
Business Administration, be ratified and approved, that the funds now invested
in temporary securities be perrnenently invested and that the action be re-
corded in the Investment Ledger.

          Upon motion duly made, seconded and carried, the recommendation
was concurred in, the action ratified and the necessary investments authorized.



          H. Assignment of Reynolds Tobacco Company and C. N. 0. & T. P.
Railway Accepted.

         Mr. Peterson reported that the R. J. Reynolds T obacco Company in.
November, 1912, entered into an Agreement with the Cincinnati, New Orleans
& Texas Pacific Railway Company to erect and maintain a trestle leading
from their spur to service the Reynolds Tobacco warehouse building and the T. H.
Kirk Tobacco Warehouse. A copy of the original agreement was read and
authorized filed as a part of these minutes.

          Upon motion duly made, seconded a