xt7ksn01087z https://nyx.uky.edu/dips/xt7ksn01087z/data/mets.xml Lexington, Kentucky University of Kentucky 19601113 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, 1960-11-dec13. text Minutes of the University of Kentucky Board of Trustees, 1960-11-dec13. 1960 2011 true xt7ksn01087z section xt7ksn01087z 










        Minutes of the Meeting of the Board of Trustees of the University
of Kentucky, December 13, 1960.


        The Board of Trustees of the University of Kentucky met in the Pres-
ident' s Office on the campus of the University at 10:20 a. m., CST, Tuesday,
December 13, 1960, with the following members present: Governor Bert T.
Combs, Chairman; Dr. R. W. Bushart, Floyd H. Wright, Dr. Paul B. Hall,
J. Stephen Watkins, R. P. Hobson, Robert H. Hillenmeyer, Harper Gatton,
Dr. Ralph J. Angelucci, Dr. H. B. Murray, Dr. Thomas D. Clark and Dr.
Aubry Brown. Absent: Mrs. Paul G. Blazer, W. F. Foster, Wendell Butler,
Emerson Beauchamp and Clifford Smith. Present also were President Frank
G. Dickey and Secretary Frank D. Peterson.



        A. Meeting Qpened.

        Chairman Combs, having ascertained that a quorum was present for
the transaction of business, called the meeting to order and asked the Reverend
Ard Hoven of the Broadway Christian Church, Lexington, Ky., to open the
meeting with prayer.



       B. Minutes Approved.

       Upon motion duly rrmade, seconded and carried, the minutes of the Board
of Trustees of September 20, 1960, and the minutes of the Executive Committee
of October 21 and November 2, 1960, were approved as published.



       C. Financial Report of the Treasurer.

       Mr. Peterson gave the financial report as follows:




 







            UNIVERSITY               OF KENTUCKY


                           LEXINGTON                     December 7, 1960







Dr. Frank G. Dickey, President
University of Kentucky
Lexington
Kentucky

Dear Doctor Dickey:

   I am submitting herewith the Financial Report of the University of
Kentucky for the five months ended November 30, 1960. This report
contains a balance sheet and related financial statements which present
a complete financial picture of the period for all funds of the University.

  The Current General Fund budgetary operations for the pexiod reflect
income realized for educational and general purposes in the amount of
$ 9,588,363.26 or 54.3% of the budget estimate of $ 17,650,880. 10. The
expenditures, including encumbrances outstanding amount fo $ 7,087,304.65.
This represents 41. 0 % of the total Current General Fund Appropriations of
$ 17,284,339.86.

                                          Respectfully submitte



                                          Frank D. Peterson
                                          Vice President
                                          Business Administration




 





a



University of Kentucky
  Balance Sheet
  November 30, 1960

    ASSETS



Current Funds:
A. General-
     Cash in Bank
     Available Balance, State Appropriations
     Cash on Deposit, State Treasurer
     Inventories
     Deferred Charges
     Accounts Receivable
     Unrealized Income
     Die from Other Funds



                Total General


B. Restricted-
     Cash in Bank
     Petty Cash Advances
     Investments



$   521, 568.54
  1,830, 789. 08
  1,596, 584.66
    399,721.03
    52,666. 20
    35,419.64
  8,546,586.44
    121,667.74



$13, 105, 003.33



$   555,202.29
     18, 166. 12
  2,689,302.61



Total Restricted



  3,262,671.02

$16,367,674.35



Total Current Funds



HI.    Loan Funds-
             Cash in Bank
             Notes Receivable
             Investments



$    88,502.57
    280,866.00
    30, 500. 00



Total Loan Funds



m.     Endowment Funds-
             Cash in Bank
             Investments



$    20,780.78
    216,455.49



Total Endowment Funds



$  399,868.57



$   237,236.27




 








University of Kentucky
   Balance Sheet
 November 30, 1900

 LIABILITIES



Current Funds:
A. General-
      Reserve for Departmental Requisitions
      Reserve for Inventories
      Reserve for Auxiliary Enterprises
      Other Liabilities
      Appropriation Balances
      Unappropriated Surplus:
         Division of Colleges
         Medical Center
         Agricultural Experiment Station



$ 1,530,460. 19
    399,721.03
    38,364. 20
    58,356. 20
 10,753,403.38



$108,219.00
  25,788. 21
  190,691. 12



324,698.33



             Total General


B. Restricted-
      Outstanding Check Liability
      Restricted Fund Balances



               $13, 105,003.33



$    14, 105. 78
  3, 248,565. 24



Total Restricted



  3,262,671.02

$ 16, 367,674.35



Total Current Funds



II.    Loan Funds-
              Due to Federal Government
              Principal Balances:
                 University Student Loans
                 University Contribution-Nat'l
                 Defense Educ. Act, 1958
              Expendable Balance



$   279,599.G0



$ 63,933.45



31,066.55



95,000.00
. 25, 269.57



Total Loan Funds



M.     Endowment Fundt-
              Principal Balances
              Expendable Balances



$   399,868.57



$   228,767.26
      8,469.01



Total Endowment Funds



$ __ 237,236.27



b




 






C



University of Kentucky
   Balance Sheet
   November 30, 1960

      ASSETS



IV.   Plant Funds:
      A. Unexpended Plant Funds-
           Available Balance, State Appros.
           Cash on Deposit, State Treasurer



            Total Unexpended Plant Funds


B. Retirement of Indebtedness Funds-
     Cash in Bank
     Cash on Deposit, State Treasurer
     Cash on Deposit, Trustee
     Investments
     Unrealized Income
     Due from Other Funds



Total Retirement of Indebtedness Funds



C. Invested in Plant-
     Land
     Buildings
     Equipment
     Construction in Progress



Total Invested in Plant



$ 9,230,390,58
  2,077, 775.84



$11,308, 166.42



$     1, 174.00
    471,777.91
    144, 283.63
    368,886.60
    126,384.00
    52, 996. 00



1,165,502.14



$ 3,583,588.79
44,376,037. 27
13,513,811. 22
21,996, 215. 76



83.469,653.04



Total Plant Funds                                            $95,943,321,60



V.    Agency Funds:
            Cash in Bank
            Investments



($   100,012.83)
     125,967. 19



Total Agency Funds



$    25, 954.36



( cash overdraft )




 






d



University of Kentucky
   Balance Sheet
November 30, 1960

   LABILMES



IV. Plant Funds:
     A. Unexpended Plant Funds-
            Reserve for Plant Requisitions
            Due to Other Funds
            Plant Appropriation Balance



$ 6,910,068.54
    121,667.74
  4, 276,430.14



              Total Unexpended Plant Funds


B. Retireinmt of Indebtedness Funds       $ 1,165,502.14







              Total Retirement of Indebtedness Funds



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


              Total Invested in Plant



Total Plant Funds



V.   Agency Funds:
            Agency Fund Balances



11,308, 166.42



1, 165,502. 14



$12, 604,000.00
  1, a22, 69. 00
  69, 243,384.04



83,469,653.04



$95,943, 321.60



$    25,954.36



Total Agency Funds



$    25,954.36




 






e



          University of Kentucky
      Statement of Unrealized Income
For the Current Fiscal Period Which Began
July 1, 1960 and ended November 30, 1960



Educational and General:
A. Student Fees-
    Incidental fees and tuition
    Training School fees
    Adult and Extension Education fees

    Total Student Fees

B. State Appropriations-
    Division of Colleges
    Medical Center
    Geological Projects
    Agricultural Experiment Station
    Agricultural Extension Service

    Total State Appropriations

C. Federal Grants-
    Division of Colleges
    Agricultural Experiment Station
    Agricultural Extension Service

    Total Federal Grants

D. Endowment Income-



GENERAL FUND
Estimated Realized



$  1,3'46,630.00
     32,000.OD
     180,000.00



$ 611,011.32
    14, 310.00
    57,788.91



INCOME
Unrealized



$ 735,618.68
    17,690. 00
    122,211.09



$ 1,558,630.00  $ 683, 110.23  $ 875,519. 77


$ 7,449,300.00  $4,125,500.00  $3,323,800.00
  1,975,300.00  1,070,300.00   905,000.00
    503,860.00    478,860.00    25,000.00
  1,100,6501t0   620, 150.00   480,500.00
  1,211,200.00   642,000,00   569,200.00

$12, 240,310.00  $6,936,810.00  $5, 303,500.00


$   150,529.60  $ 101,506.14  $  49,023.46
    895,089.00    520,996. 00  374,093.00
  2,059,252.00  1,026,955.00  1,032, 297.00

$ 3,104,870.60  $1,649,457. 14  $1,455,413.46

$   47,069.50  $  12,991.01  $  34,078.49



E. Sales and Services of Educational
   Division of Colleges
   Agricultural Experiment Station



Departments-
         $  



           Total Sales and Services of Educational
           Departments

           Total Educational and General

II.    Service Enterprises:
        Post Office

Iln.   Auxiliary Enterprises:
           Men's Residence Halls
           Women's Residence Halls

           Total Auxiliary Enterprises



Total General Fund Income



25,000.00
675,000.00



$   10,551.94
   295.442.94



$   14,448.06
   379,557.06



$  700,000.00  $ 305,994.88  $ 394,005.12

$17,650,880.10  $9,588,363. 26  $8,062,516.84


$     4,000.00   $     2,714.15  $     1,285.85


$   364,857.00  $  132,784.85  $ 232,072.15
-    430,186.00       179,474.40      250,711.60

$   795,043.00  $ 312,259.25  $ 482,783.75

$18,449,923.10  $9,903, 336.66  $8,546,586.44




 





-C



          University of Kentucky
Statement of Departmental Appropriations
For the Current Fiscal Period Which Began
July 1, 1960 and ended November 30, 1960



I. Educational and General

    A. General

    B. General Expenses-
        Student Services
        Staff Welfare
        General Institutional Services

        Total General

    C. Instruction and Departmental
        Research-
        College of-
        Agr. and Home Ec.
        Arts and Sciences
        Commerce
        Dentistry
        Education
        Engineering
        Law
        Medicine
        Nursing
        Pharmacy
        Graduate School
        Univ. Extended Programs

        Total Instruction and Departmento
        Research

   D. Activities Relating to Educational
        Departments

   E. Organized Research-
        University Research
        Agricultural Experiment Station

        Total Organized Research

   F. Extension and Public Services
        Univ. Ext. and Public Services
        Agr. Extension Service

        Total Extension and 1Nblic
        Services

   G. Libraries

   H. Operation and Maintenance of
        Physical Plant



Total Educational and General



                               Encumbrances
 Appropriation. Fxpenditures  Outstanding   Unencumbered

 $   330,441.05 $    78,340.96 $     5,798.71 $   246,301. 38


 $   418,008.93 $   154,210.41 $    7,751.55 $   256,046.97
     190, 000. 00   59,341. 55                   130,658. 45
     205, 121.62     77,378.42      25, 155.01    102,588.19

$   813, 130.55 $  290,930. 38 $  32,906.56 $   489,293.61




$   471,575. 07 $  182,061. 67 $   3,513. 17 $  286,000.23
  2,572,523.24     976,815.27      55,165.02  .1,540,542.95
    322,990.03     122,296.82       1,181.07     199,472.14
    23, 580.0 0                                  23, 550. 00
    591, 060.81    237,875.37      14,742.12     338,443.32
    649,847.82     262,812.12       5,340.22     381,695.48
    147,882,74     56,433.23        4,414.15      87,035.36
    1,010,023.74     316,408.46      30, 197,50    663,417.78
    97,818.71      32,801.45         714.52      64,302.74
    123,250.00      38,064.05       5,017.70      80, 168.25
      28,405.00      11,178.61         253.40      16,972.99
    603, 141.74    231,657.04      13, 144.14    358,340.56

Li
$ 6,642,028.90$ 2,468,404.09$     133,683.01$ 4,039,941.80


$    63,552.00 $    22,416.76 $     4,600.00 $    36,535.24


$   196,284.43 $   66,892. 24 $   26,749.62 $  102,642.57
   2,669,009.00     939,230.16    135,516.37   1,594,262.47

$ 2,865,293.43$ 1,006,122.40$     162,265.99$ 1,696,905.04


$   813, 235.50 $   24,070.40 $   548, 186.73 $  240,978.37
   3,270,452O00   1,309,887.18      10, 107. 04  1,950,457. 78


$ 4,083,687. 50 $ 1,333,957 . 8 $  558, 293.77 $ 2,191,436.15

$   590,830.43 $  224,647. 56 $   37,668.53 $  328,514.34


$ 1, 895, 376.00 $  489, 328. 36 $  237,939.99 $ 1,168,107.65

$17,284,339.86 $ 5,914,148.09 $ 1, 173, 156. 56 $ 10, 197, 035. 21




 







g



         University of Kentucky
Statement of Departmental Appropriations
For the Current, Fiscal Period Which Began
July 1, 1960 and ended November 30, 1960



II. Service Enterprises:

     Post Office
     Medical Center

     Total Service Enterprises

Im. Auxiiiary Enterprises:
     Men's Residence Halls
     Women's Residence Halls

     Total Auxlialy Enterprises

IV. Hospital Activations

V. Student Aid

VI. Working Capital

VI. Clearing Accounts

VIII. Debt Service- Bonds Retired

     Debt Service-Reserve

     Total Departmental Appropriations



                              Encumbrances
 Approriation_ Expenditures  Outstanding  Unencumbered

 $    29,330.00 $  11.123.97 $     200.00 $  18,006. 03
     50, 625. 00  . 22, 190. 25  4,673.61    23,761.14

$    79,955.00 $'  33,314. 22 $  4,873.61 $  41,767. 17


$   362,417.00$  163,021.59$   11,978.36$   187,417.05
    421,830.00    198,312.53    18,104.01   205,413.46

$   784,247.00$  361,334. 12$  30,082.37$   392,830.51



$   119,113.26$

$    13,800.00 $

$    90, 000.00($

$       259. 17 $

$    53, 000.00 $

$     6,250.00$



31,725.91 $

2,700.00 $

92, 861. 40)$

25,825.79 $

53,000.00 $

6,250.00 $



13,649. 32 $



119,216.32$

1, 146. 00($


          a!



73,738.03

11,100.00

63,645.08

26,712. 62)



$18,430,964.29$ 6,335,436.73$ 1,342,124. 18$10,753,403.38



( negative figure )




 





h



        University of Kentucky
Statement of Plant Fund Appropriations
For the Current Fiscal Period Which Began
July 1, 1960 and ended November 30, 1960



I. Unexpended Plant Funds:



Plant
Appropriations _Expenditures Encumbrances Balance



Construction Experiment Station
University of Kentucky Electrical
  Distribution System
Holmes Hall-Univ. Approp.
Medical School-Plans and Spec.
Medical School Library Acquisitions
  and Supplies
Medical Science Building
Men's New Dormitory
Northern Extension Center
Western Extension Center
Medical Center Heating and Cooling
Plant Project
Medical Center Activation of
Inventories
Southeastern Ky. -Extension Centers
Women's Dorm Architectural Serv.
University of Kentucky Medical Center
Hosp. & Outpatient Clinic
University of Kentucky Expansion of
M. King Library
Reynolds Warehouse Roof Repairs
Seed Building and Offices and Service
Building
Medical School Clearing
Sigma Nu Fraternity House Fund
University of Kentucky Medical
Center Landscaping
University of Kentucky Steam and Return
Line Renovation
Medical Science Building and Equipment
Addition of Student Union Building
Alpha Gamma Rho Frat. House
Sigma Chi Fraternity House
Medical School-Dental Wing
Dental Science Building Equipment
Physical Science Building
Commerce Building
Spindletop Industrial Research Center
Site Development
Spindletop Industrial Research Center
Administration Building
Hospital-Movable Equipment
University of Kentucky Agricultural
Research Center



$  122,491.89 $



6,231.71 $



1,000.00
44, 781.49
6,088. 94



   75,922.91
   24, 110.01
   322, 547.99
   81,708.05
   79,222.95

      251.99

   73, 923. 76
   48, 148.91
1,171, 591. 22

  111,600.94

  54, 054.60
    7,500.00

    1, 000.00
  195, 809. 00
    1, 000.00

  62,000. 00

  6,804.10
  739,695.54
    2,034.00
  1443329.00
  144, 329. 00
  51, 012. 57
  691,652071
  144 716. 00
  14, 91Q. 00

  6,250.00

  15,000.00
1,205, 000 00



30,407.34

125,819. 38
7,646. 22
14,600.24



35, 667. 58 $

1, 000.00



10, 000. 00
5, 649.19
68, 202. 97
58, 200. 79
40,718.41



80,592.


44,781.
6,088.

35,515. t
18,460. 8
128,525. 6,
15,861. 04
23,904.30



251.99



1,911. 63
6,869.93



17, 718. 74
20, 021.63
1,706.95



  54,293. 39
  21,257. 35
1, 169,884.27



( 9,727. 29)   121,328. 23



1,382.10



52, 672.09
7,500.00



.41



                               1,000. 00
                             195,809. 00'
                               1, 000, 00

                               62,000.00

                               6,804.10
46,943.45    235,263.59    457,488.50
                               2,034. 00
30,774.06     104,010.71       9,544.23
14,657.84     115,715.91      13,955.25
    20.00)      1,048.23      49,984.34
 7,664.11      22,395059     661,593.01
 14,714.59           1.00            .41
               14,171.00         739.00



6,000.00



7, 849.00



1.00



3, 000. 00



250.00



    7,150.00
1,205,000.00

    3,000. 00



Total Unexpended Plant Funds $5, 523, 487. 57



$



323,451.60 $



801,938.09 $4,398,097.88



( negative figure )



- -




 






i



          University of Kentucky
 Statement of Plant Fund Appropriations
For the Current Fiscal Period Which Began
July 1, 1960 and ended November 30, 1960



II. Retirement of Indebtedness Funds-
  A. Debt Service Fund-
     1st P. W. A. Issue
     2nd P. W. A. Issue
     Dorm Rev. Bond Issue
     Auditorium Field House Issue
     Library Building Issue
     Stadium Addition Issue
     Dorm Rev. Issue ( 456 Rose)
     Journalism Building Bond Issue
     Dorm Rev. Issue ( 476 Rose)
     Student Dormitories
     Student Dorm (Kappa Sigma
     Student Dorm (Lambda Chi)
     Student Dorm (Phi Sigma Kappa)
     Student Dorm (Pi Kaipa Alpha)
     Dorm Rev. Bonds of 1952
     Dorm Rev, Bonds of 1954
     Dormitory Rev, Bonds of 1956-
     Cooperstown Apartments
     Dormitory Rev. Bonds of 1956-Six
     Sorority Dorms
     Dormitory Rev. Bonds of 1956- Student
     Dorms Reserve
     Dormitory Rev. Bond of i956-336
     Clifton Avenue
     Dormitory Rev, Bond of 1956-Holmes E
     Dormitory Rev. Bond of 1956-Shawneetc
     Dormitory Rev. Bonda.Qf 1957- 468 RoE
     Dormitory Rev. Bonds-342 Clifton Aver
     Housing Bond of 1958-Haggin Hall



           Total Debt Service

B. Sinking Fund Reserves with Trustee-
   Dormitory Rev, Bonds of 1955- Res.
   Holmes Hall
   Dorm. Rev. Bonds of 1956-Res.
   Shawneetowrn
   Dorm. Rev. Bonds of 1952-Res .
   Dorm. Rev. Bonds of 1954-Res.



Plant
Appropriations Expenditures



$   37,322.66
    17,572.68
    24,615.25
    62,638. 53
    86,606. 56
    19,305. 20
    6,773.90
    29, 778, 75
    5,008.43
    20,846.05
    11,267.21
    12,209.21
    10,657.37
    11,262.70
    59, 197.00
    32,191. 11

    226,797,90



q7



8,785. 00



Encumbrances Balance



$



50,568. 75
3,635. 00
2,118.75
3,256. 50


10,571. 25





10,031. 25

   175. 90



51,806.00



[all
)Vn
se St.
Lue



25, 000. 00

8, 262.00
46,963.00
90, 275.00
8,000.00
8,434.55



$   37,322.66
     8,787.68
     24,615. 25
     12,069.78
     82,971.56
     17, 186.45
     3,517.40
     29,778.75
     5,008.43
     10,274. 80
     11,267.21
     12,209. 21
     10,657.37
     11,262.70
     59,197.00
     22, 159. 86

   226,622.00

   51,806.00



25,000.00



14,465. 00
62,283. 75
6,020.00



8,262.00
32,498. 00
27,991. 25
1,980. 00
8,434.55



    78,880.00      25, 884. 0Q                   52,996. 00

$  991,671.06 $   197,795. 15 $             $   793,875.91



$   48,294.62 $              $              $    48,294.62

   137,697. 13                                  137,697. 13
   122, 634. 32                                 122,634. 32
   63, 000. 16                                  63,000. 16



Total Sinking Fund Reserve  $  371, 626. 23



$



$



$ 371.626. 23



Total Retirement of Indebtedness
Funds                      $1,363,297.29 $   197,795.15 $               $1,165,502. 14

Total Plant Fund
Appropriations          $6,886,784.86 $ 521,246.75 $ 801,938.09 $5,563,600.02




 





j



         University of Kentucky
  Statement of Other Fund Transactions
For the Current Fiscal Period Which Began
July 1, 1960 and ended November 30, 1960



                                            Balances                 Disburse-
Restricted Funds:                           July 1, 1960 Receipts     ments



     Fund Balances


Loan Fund:


     Principal:
         University Student Loans
         University Contribution-
         Nat'l Defense Education Act,
            1958
         Expendable


            Subtotal


Endowment Funds:


     Principal
     Expendable


            Subtotal


Agency Fund:


     Balances


            Combined Totals



Balances
Nov. 30, 1960



$3,075,608.25 .$3,&3.O,83B.09. $3,457,879.10 $3,248,565.24






$   74,588.67 ($   10,655.22 )$             $    63,933.45


    20,411.33      10,655.22                    31,066.55
    24,730.35        657. 39         118, 17    25,269.57


$  119,730. 35 $    657. 39 $    118. 17 $  120, 269.57





$ 228,767.26 $               $              $   228,767.26
     8,275.01         219.00          25.00       8,469.01


$ 237,042. 27 $       219. 00 $       25.00 $   237,236.27





$  120,976. 11 $ 512,646.04 $ 607,667,79 $  25,954.36


$3,553,356.98 $4, 144,358.52 $4, 065,690.06 $3,632,025.44



( negative figure )




 




13



        Mr. Peterson gave special attention to the, balance sheets of current
funds and plant fulds. He stated that the financial report had been mailed to
members of the Board of Trustees for their advance consideration.

        Upon motion duly made, seconded and carried, the financial report
was authorized received and made of record.



        D. Annual Financial Report, 1959-60.

        Mr. Peterson presented to each member of the Board present a copy
of the financial report for the year ending June 30, 1960, He called special
attention to the summary statement found on pages 5-10; also Exhibit A,
Balance Sheet for the University, and related that the statement indicated assets
of over $100, 000, 000. He urged members of the Board to take the report home
and give it such study as each member might have for the report.

        Upon motion duly made, seconded and carried, the annual report was
received and authorized filed.



        E. Certificate, Cremation of Bonds and Coupons.

        Mr. Peterson stated that the Board of Trustees, at its meeting on
September 20, 1960, authorized paid bonds and interest coupons of various
issues destroyed by cremation, and a list was inserted in the minutes of Sep.-
tember 20.

        Mr. Peterson presented a certificate of Mr. Clay Maupin and Mr.
George Kavanaugh certifying that they had carried out the directions of the
Board of Trustees. He requested permission to have the certificate made of
record,

        Upon motion duly made, seconded and carried, the following certificate
was authorized put to record:



                     UNIVERSITY OF KENTUCKY

                CERTIFICATION OF DESTRUCTION OF
                   PRINCIPAL BONDS AND COUPONS
            AS AUTHORIZED-BY THE BOARD OF TRUSTEES
              AT ITS MEETING OF SEPTEMBER 20, 1960


            The undersigned certify that Principal Bonds and Interest
      Coupons of Revenue Bond issues, returned from paying agents
      after payment and cancellation, were destroyed by incineration
      on this date in our presence - as detailed on the attached list -
      covering the period July 1, 1959 to June 30, 1960.




 





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            Signed this  17    day of November 1960 at Lexington,
       Kentucky.

                        (Signed) Clay Maupin
                        Director of Accounting and Budgetary Co-ntrol


                        (Signed) Geo. R. Kavanaugh
                        Associate Business Manager




        F. Disposal of Surplus Property Authorized.

        Mr. Peterson presented the following list of obsolete, antiquated and
surplus property and requested authorization to dispose of same by taking corn-
petitive bids.


      Electrical Engineering

            DuMont 5"t oscilloscope Type 175A Serial #190

      Bingham 4-H Camp

            1 disc harrow (2 section - 16 disc)
            I plow
            1 set of cultivators
            1 side cut mowing machine that will fit most Ford tractors
               (the older models)
            I Case tractor that is good only for junk
            1 Leroy motor and generator that served as the power supply
               for the camp when it was a resort hotel. It too is good
               only for junk.

      Reynolds Building No. 1

            2 Hydraulic Steam Driven Pumps - Made by Union Pump Co.?
               Battle Creek, Michigan
            1 Westinghouse Alternating Current Generator
               150 KVA 600 V. 144.4 A. Per Turminal - 600 RPM -
               Ser. No. 782952
               2 Exciters for the above Generator
            1 Westinghouse DC Generator 15 KW EFM 125. 120A RPM 1050
               Ser. No, 286957
            1 General Electric DC Generator MP No. 8462 - Class 4-17. 5-1100
               Form A. 140 A. 1000 RPM. 110 V.
            1 Hamilton Corliss Steam Engine - Size 16 x 36 No. 5554
            1 Electric Switch Board - (Westinghouse) with oil switch and
               volt and Amp.meters. SO. No, 390537 D101848A.
            1 Accumulator -' for storing Hydraulic Energy up to 2000 PSI

      Kentucky Geological Survey

            One 1953 Chevrolet station wagon and one 1956 Chevrolet station
               wagon, each with 70, 000 miles on it,




 





15



        Upon motion duly made, seconded and carried, the Vice President,
Business Administration, was authorized to dispose of the above listed
property by taking competitive bids.



        G. Results of Election Authorized by the Alumni Association Reported.

        Mr. Peterson read the following letter and afked permission to make
same of record, and to certify the names of the three persons receiving the
highest number of votes to the Governor of the State, from which list he will
pick one person and appoint same as alumnus member of the Boa.rd of Trustees
of the University, effective January 1, 1961.




                                       December 8, 1960


        President Frank G. Dickey
        University of Kentucky

        Dear President Dickey:

        The term of Ralph J. Angelucci as alumnus member of the Board
        of Trustees expires December 31, 1960. An election has been
        held among the alumni of the University as prescribed by statute
        and by the rales and regulations of the Board of Trustees. The
        following is the result of the elections:

                      Ralph J. Angelucci     2,403 votes
                      Richard E, Cooper       2,337 votes
                      Whayne C. Priest        1,664 votes
                      Lynn Jeffiies           1,476 votes
                      J. Frank Baugh          1,415 votes
                      L. S. McCrosky          1, 281 votes

       There were 95 write-in names, all of which have been tabulated
       and recorded.

       Will you please submit this information to the Board of Trustees
       that same may be approved and the names of the three receiving
       the highest number of votes be certified to the Governor of the
       Commonwealth of Kentucky, from which list of three he may ap-
       point one to serve a term of four years beginning January 1, 1961.

                                              Very truly yours,

                                 (Signed)    Frank D. Peterson
                                              Sec reta ry
                                              Board of Trustees




 





16



       Upon motion duly made, seconded and carried, the report of the
Secretary was ordered received and put to record, and he was directed to
certify the names of the three persons receiving the largest number of
votes to the Governor, from which list he will appoint a successor to Dr.
Ralph J. Angelucci, whose term will expire December 31, 1960.



       H. Authorization of Resolution for the Issuance, Sale and Delivery
of the University of Kentucky Hos          Hall Bondof1960

       Board member Harper Gatton introduced and caused to be read the
proposed Resolution as follows:


             A RESOLUTION OF THE BOARD OF TRUSTEES OF
             THE UNIVERSITY OF KENTUCKY! AUTHORIZING
             AND PRQVIDING FOR THE ISSUANCE, SALE AND
             DELIVERY OF "UNIVERSITY OF KENTUCKY HOUSING
             AND DINING HALL BONDS OF 1960", OF THE BOARD
             OF TRUSTEES OF THE UNIVERSITY TO PAY THE
             COSTS (NOT OTHERWISE PROVIDED) OF CONSTRUCT-
             ING A PROJECT UPON THE CAMPUS OF THE UNI-
             VERSITY. CONSISTING OF A DORMITORY TO HOUSE
             APPROXIMATELY 136 WOMEN STUDENTS AND A.
             DINING HALL TO SERVE 1D 100 WOMEN STUDENTS,
             EACH WITH NECESSARY APPURTENANCES.


      WHEREAS, the University of Kentucky and its students are not now
being provided with adequate buildings for educational purposes, and in
order to provide the same it. is necessary that there be constructed a project
consisting of an additional dormitory for housing approximately 136 women
students and a dining hall to serve 1, 100 women students, each with neces-
sary appurtenances, upon a site which is hereinafter described, and which
is a part of the campus of the University; and

      WHEREAS, plans and specifications therefor have been prepared
and submitted to the Board of Trustees; and

      WHEREAS, under the provisions of KRS .62. 340 et seq., now in full
force and effect, the Board of Trustees of the University of Kentucky, as the
governing body of said State educational institution, is authorized to issue
Bonds, as hereinafter provided, for the purpose of financing all or a part of
the costs of the said housing and dining hall project and appurtenances; and

      WHEREAS, the total cost of said housing and dining hall project and
appurtenncesis estimated to be One Million Three Hundred Thousand
($1,300,000. 00) Dollars, and it is necessary that the Board of Trustees
provide at this time for the borrowing of a sum not to exceed One Million
Two Hundred Twenty-five ($ 1, 225, 000. 00) Dollars, to provide, together with
other available funds, for the estimated total cost thereof;




 





17



       NOW, THEREJFORE. THE BOARD OF TRUSTEES OF THE UNIVER-
SITY OF KENTUCKY HEREBY RESOLVES, AS FOLLOWS:

       Section 1. It is hereby determined and declared that the proper
accommodation of the students of the University of Kentucky for education-
al purposes requires construction of a project upon the campus of the
University, at Lexington, Kentucky, consisting of an additional dormitory
to house approximately one hundred thirty-six ( 136) women students and a
dining hall to serve 1, 100 women students, each with necessary appurtenances
(the same being hereinafter referred to as the 'WProject"t). The plans and
specifications of said Project, as prepared and submitted to this Board, are
hereby approved in all respects.

       Section 2. In order to provide for the payment of a portion of the
costs of theEProlect, there shall be, and there are hereby ordered to be,
issued by the Board of Trustees of the University of Kentucky, in its cor-
porate capacity and by and through its corporate name, and as a State
educational institution and agency, University of Kentucky Housing and Dining
Hall Bonds of 1960 (hereinafter sometimes referred to as the "Bondst') in
the aggregate principal amount of One Million Two Hundred Twenty-five
Thousand($1,225,000. 00) Dollars, dated April 1, 1960, of the denomination
of One Thousand ($1, 000. 00) Dollars each, to be numbered consecutively
from 1 to 1,225, both numbers inclusive, bearing interest to be evidenced
by coupons attached to each Bond at a rate or rates which, when averaged
to maturity on the Bonds covered by the bid, shall not result in an average
interest rate on such Bonds in excess of three and one-eighth (3-1/8%) per
cent per annum (the exact rate or rates to be determined at the time of the
receipt and consideration of bids for the purchasing of said Bonds as here-
inafter provided), payable on the first day of October, 1960 and semiannually
thereafter on the first days of April and October in each year until ma