Minutes of the Meeting of the Executive Committee of the Board
of Trustees of the University of Kentucky, August 26, 1950.


     The Executive Committee of the University of Kentucky met in the
President's Office at 2:00 p.m., Saturday, August 26, 1950.    The fol-
lowing members were present: Guy P.. Huguelet, Chairman; H. D. Pal-
more, Harper Gatton and d. P. Hobson.    Absent:  J. C. Everett.  Pres-
ident Donovan and Frank D. Peterson, Secretary of the Board, met with
the Committee.


     A. Minutes Approved.

     Upon motion duly made, seconded and carried, the minutes of the
Executive Committee of July 21, 1950, were approved as published.


     B. Fiscal Agent Appointed.

     President Donovan reported that the Comptroller had requested
competitive bids from brokers in Kentucky and Ohio to act as fiscal
agent in the preparation and sale of $74,500,00, Revenue Bonds, pro-
ceeds to be used for the purchase of the small dormitory at 456 Rose
Street (Chi Omega dormitory).

     Investment houses were requested to submit offers to serve as
fiscal agent, doing all things necessary to set up the bond issue, and
paying all expenses incident thereto, and to submit a guaranteed bid,
thus giving the Executive Committee the option of accepting either
proposition.

     President Donovan stated that the competitive bids were opened
at 10:00 A.M.,Central Daylight Time, in the Office of the Comptroller,
and were available for consideration by the Executive Committee. The
following bids were received:


                                           Lexington, Kentucky
                                           August 26, 1950

    Board of Trustees
    University of Kentucky
    Lexington, Kentucky

                               ATTENTION: Mr. F. D. Peterson,
                                           Comptroller.
    Gentlemen;

         Pursuant to your letter of August 11, 1950, we submit
    the following proposal for setting up and marketing an Is-
    sue of $74,500 principal amount revenue bonds to finance
    the purchase of the new building located on Rose Street,
    containing dormitory and complementary facilities, which