H.   Report of Leases (FCR 2)

     Mr. Hardymon reviewed the lease agreements in FCR 2, noting the
value is less than $30,000 per year for each agreement. He said that the
Finance Committee accepted the report and moved approval of FCR 2. His
motion, seconded by Mr. Welenken, passed. (See FCR 2 at the end of the

     I.   Approval of Leases (FCR 3)

     Mr. Hardymon reviewed the leases in excess of $30,000 per year and
stated that the leases are recommended for approval by the Finance
Committee. He moved approval of FCR 3. Mr. Bates seconded the motion,
and it carried. (See FCR 3 at the end of the Minutes.)

     J.   Capital Construction Report (FCR 4)

       Mr. Hardymon said FCR 4 is a quarterly report for the three months
ending December 31, 1996. The Finance Committee reviewed and accepted
the report after discussing the change orders in the report. He moved that the
report be accepted. His motion, seconded by Professor Powell, passed. (See
FCR 4 at the end of the Minutes.)

     K.   Patent and Copyright Prosecution (FCR 5)

     On motion made by Mr. Hardymon, seconded by Mr. Guthrie and
carried, the Board approved FCR 5 which involves a new method for
reporting patent and copyright prosecution. (See FCR 5 at the end of the

     L.   Hilary J. Boone Gift and Pledge (FCR 6)

     Mr. Hardymon stated that FCR 6 recommends that the Board accept a
gift from Hilary J. Boone of $200,000 and a pledge of $200,000 for an outdoor
tennis stadium. Mr. Boone's $200,000 pledge will be fulfilled with equal
payments in 1997 and 1998. Mr. Hardymon reminded everyone that Mr.
Boone was a member of the university varsity tennis team and is one of the
University's most generous donors. He moved approval of FCR 6. His
motion, seconded by Mr. Grayson, carried. (See FCR 6 at the end of the