Mtinutes of the Mleeting of the Executive Committee of the Uni-
versity of Kentucky, Tuesday, December 31, 1935.


     The Executive Committee of the Board of Trustees of the Uni-
versity of Kentucky met in President McVey's office at 11:00 a.m.,
on December 31, 1935.   The members  of the Committee present were
Judge Richard C. Stoll, Chairman; Judge Robert C-. G-ordon, and J.
B. Andrews.   President Frank L. McVey and Secretary D. H. Peak
were also present.


     1. Minutes Approved.

     The minutes of the meeting of the Executive Committee of Oc-
tober 31, 1935, were approved as published.


     2. Bids on Bonds

     President IMIcVey stated that in accordance with Resolution
No. 3, Section 12, passed by the Board of Trustees on November
7, 1935, the bonds of the University had been offered for private
sale in the sum of 8600,000 par value and that three bids for the
bonds had been received in due course.

     a. These three bids were:

        1, J. J. B. Hilliard & Son of Louisville, Kentucky, joint-
ly with Almstedt Brothers, Fidelity and Columbia Trust Company
(Bond Department), Stein Brothers & Boyce, The Bankers Bond Compa-
ny and the Security Trust Company of Lexington, Kentucky.

           Price offered for the bonds - par.
           Coupon interest rate 3.75% per annum.
           Bonds to be annual serial.
           Purchase to be suibject to the approval of the law firm
of Chapman and Cutler of Chicao,Illinois, as to form and legal-
ity.
           Transaction to be completed by February 1, 1936.

        2, Charles A, Hinsch & Company and the Wetil, Roth and Irv-
ing Company, both of Cincinnati, Ohio,
           Price offered for the bonds - par.
           Coupon interest rate 3.501 per annum,
           Bonds to be annual serial.
           Purchase to be subject to the approval of the law firm
of Chapman and Cutler of Chicag-o, Illinois, as to form and legal-
ity.
           Transaction to be completed by February 1, 1936.