Minutes of an Adjourned Special Meeting of the Executive Committee
of the Board of Trustees of the University of Kentucky, held on December 16,
1965

        The Executive Committee of the Board of Trustees of the University
of Kentucky met in the Board of Trustees' Room of the University, in the Admin-
istration Building on the campus in Lexington, Kentucky, on December 16,
1965, at 11:00 aom., Eastern Standard Time, pursuant to adjournment from
the special meeting held on November 29, 1965, as noted in the minutes.

        Dr. Ralph J. Angelucci, Vice-Chairman of the Board of Trustees and
Chairman of the Executive Committee, was in the Chair presiding.  Upon call
of the roll, it was determined that the following members of the Executive
Committee were present:   Mr. Robert Hillenmeyer, Dr. H. B. Murray and
Judge J. A. Sutherland. Absent: Mr. Smith Broadbent, Jr.

        Also present for the meeting were Dr. John W. Oswald, President of
the University, Robert F. Kerley, Vice President for Business Affairs and
Treasurer, Glenwood L, Creech, Vice President - University Relations, Robert
L. Johnson, Vice President - Student Affairs, John C. Darsie, Jr., University
Counsel, and a representative of the Financial Advisors employed on behalf of
the Board by the Commissioner of Finance of the Commonwealth in connection
with the issuance of the Board's "University of Kentucky Housing and Dining
System Revenue Bonds," dated June 1, 1965.


        A. Meeting Opened

        Tt having been determined that a quorum was present for the transaction
of business, the Chairman called the meeting to order.

        At the request of the Chairman, the Secretary read to the Executive
Committee the closing passage of the minutes of the meeting which was held
on November 29, 1965, wherein it was shown that such meeting was adjourned
to convene again on this day and at this hour for the purpose of receiving, con-
sidering and taking action upon such purchase bids as may at this time be
available for consideration by the Executive Committee with reference to its
public offering of its "Housing and Dining System Revenue Bonds, Series H and
Series I," according to authorizations adopted and approved upon the occasion
of the Board meetings of September 21 and November 21, 1965, and the
Executive Committee meeting of November 29, 1965.

        In view thereof the Chairman stated that unless objections were heard
from members of the Executive Committee, the matter of opening and taking
action upon' bids for the purchase of the Bonds would be taken up as the first
order of business, No objections were heard, and it was so ordered.