3



        Mr. McCowan indicated that the first $800,000 of this gift will
fund the Otis A. Singletary Professorship in the Humanities in honor of
President Singletary's contributions to the University. The other
$200,000 will fund laboratory improvements in the Department of
Chemical Engineering, College of Engineering.

        Mr. Clay, on behalf of the Board and University community,
expressed thanks to Ashland Oil for its great contribution and moved
that the Board accept the $200,000 gift. Mr. Clay's motion was
seconded by Mr. Black and unanimously carried. (See PR 3B-l at the end
of the Minutes.)

        H.    Acceptance of Gift from International Business Machines
Corporation (PR 3B-2)

        President Singletary then indicated his pleasure in
recommending that the Board accept the gift of $1.6 million from the
International Business Machines Corporation, and gave much credit to
Mr. Lassetter for the gift. The gift, consisting of computer equipment
and software, will serve to enhance the educational and academic
research programs in computer-aided graphics, design, engineering and
manufacturing through the establishment of a computer-aided design
laboratory. Mr. Black, on behalf of the Board of Trustees, expressed
appreciation to I.B.M. for its tremendous support and moved acceptance
of the $1.6 million gift. His motion was seconded by Mr. Clay and
unanimously carried. (See PR 3B-2 at the end of the Minutes.)

        I.   Associate Degree Program--Somerset Community College (PR
4A)

        On motion made by Mr. Clay, seconded by Mr. Farmer and carried,
the Board authorized for submission to the Council on Higher Education
a new degree program, Associate Degree in Applied Science, Physical
Therapy Assistant, for the Somerset Community College. The motion,
seconded by Mr. Farmer, carried without dissent. (See PR 4A at the end
of the Minutes.)

        J.    University of Kentucky Centcr on Aging Foundation,
Incorporated (PR 6)

        President Singletary recommended that the Board approve the
Articles of Incorporation of the University of Kentucky Center on Aging
Foundation, Incorporated and authorize future gifts in support of same
to be deposited and accounted for in the University of Kentucky Center
on Aging Foundation, Incorporated. Mr. Farmer so moved. His motion
was seconded by Mr. Black and carried without dissent. (See PR 6 at
the end of the Minutes.)

        K.    Interim Financial Report  (FCR 1)

        Mr. Clay, Chairman of the Finance Committee, reported that the
committee met on the morning of January 21 and reviewed three agenda
items to he presented for action. He then moved that the financial
report for the five months ended November 30, 1985 be accepted.  Mr.
Clay's motion was seconded by Mr. Farmer and it was so ordered.  (See
FCR 1 at the end of the Minutes.)