xt7tb27ppm5d https://exploreuk.uky.edu/dips/xt7tb27ppm5d/data/mets.xml Lexington, Kentucky University of Kentucky 1959037 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, 1959-03-apr7. text Minutes of the University of Kentucky Board of Trustees, 1959-03-apr7. 1959 2011 true xt7tb27ppm5d section xt7tb27ppm5d
Irregularities
Minutes of the Board of Trustees of the University of Kentucky,
April 7, 1959.
The Board of Trustees of the University of Kentucky met in the
President, s Office at 9:15 a. m. , CST, Tuesday, April 7, 1959, with the
following members present. Governor A. B. Chandler, Chairman; Dr. Ralph
J. !Angelucci, Dr. Paul Hall, Wood Hannah, Sr. , Ben Butler, Clifford E.
Smith, R. P. Hobson, J. Stephen Watkins, Robert H. Hillenrmeyer, Floyd
H. Wright and Dr. William C. Wilson. Absent: Mrs. Paul G. Blazer,
Robert R. Martin, Harper Gatton and W. F. Foster. Vice President Leo
M. Charxaher-lain and Secretary Frank D. Peterson met with the Board of
Trustees.
A. Welcome to New Members.
The Board extended a cordial welcome to the new members of
the Board of Trustees, Mr. Robert H. Hillenmeyer, who was appointed for
a term expiring December 31, 1962, to take the place of Louis Cox, whose
term expired December 31, 1958; Mr. Floyd H. Wright, appointed for a
term expiring December 31, 1962, who was appointed to take the place of
Mr. Robert C. Stilz, whose term expired December 31, 1958; and Dr.
William C. Wilson, who was appointed to fill the unexpired term of Dr. Daniel
C. Elkin, deceased. Mr. Hillentneyer, Mr. Wright and Dr. Wilson took
the oath of office before the meeting started.
B. Approval of Minutes.
The minutes of the Board of Trustees of December 9, 1958; and
the minutes of the Executive Committee of January 16, 1959 and February
20, 1959, were approved as published,
C. Financial Report.
Mr. Zgtex-so submitted financial report for the period ended
March 31, 1959. He read the following statement and report.
UNIVERSITY ' OF KENTUCKY
LEXINGTON
April 7, 1959
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 nine-months period ended March 31, 1959. 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 period
reflect income realized for educational and general purposes in the
amount of $12, 662, 783. 14, or 96. 1% of the budget estimate of
$13,180, 701. 63. The expenditures, including encumbrances outstand-
ing, amount to $9,429,817.41. This represents 73.3% of the total
General Fund Appropriation of $12, 863,940. 57.
Respectfully submitted,
Frank D. Peterson
Vice President
Business Administration
a
University of Kentucky
Balance Sheet
March 31, 1959
ASSE TS
I. Current Funds
A. General-
Cash in Bank
Available Balance, State Appropriations
Cash on Deposit, State Treasurer
Inventorie s
Deferred Charges
Unrealized Income
Total General
B. Restricted-
Cash in Bank
Petty Cash Advances
Investments
Total Restricted
$1,015,305.56
1,588,591.65
1,561,297.14
280,308.61
52,666.20
572,822. 17
$5,070,991.33
$ 667,098.31
15,618.46
1,597,805.20
2, 280.521. 97
Total Current Funds $7,351,513.30
II. Loan Funds:
Cash in Bank
Notes Receivable
Investments
Total Loan Funds
III. Endowment Funds:
Cash in Bank
Investments
$ 716. 18
66,643.37
54,500.00
$ 121,859.55
_ _ama
$ 8,280. 50
226,360.35
Total Endowment Funds
$ 234,640.85
b
University of Kentucky
Balance Sheet
March 31, 1959
LIABILITIES
I. Current Funds:
A. General-
Reserve for Dept. Req, s.
Reserve for Inventories
Reserve for Aux.Enterprises
Other Liabilities
Appropriation Balance
Unappropriated Surplus-
Division of Colleges
Medical Center
Agr.Exp. Station
$ 65 1, 535. 50
280,308.61
43,921. 00
52, 666.20
3,635,868.10
$219,441.55
4, 390, 09
182, 860. 28
406,691.92
Total General
$5,070,991.33
B. Restricted-
Outstanding Check Liability
Restricted Funds Balances
$ 6,415.94
2, 274, 106.03
Total Restricted
2, 280, 521.9 7
$7, 351, 513 30
Total Current Funds
II. Loan Funds:
Principal Balances
Expendable Balances
$ 79, 241.81
42, 617. 74
Total Loan Funds
III. Endowment Funds:
Principal Balances
Expendable Balances
Total Endowment Funds
$ 121, 859.55
$ 228,42. 41
6, 398.44
$ 234.,640.85
C
University of Kentucky
Balance Sheet
March 31, 1959
ASSE TS
IV. Plant Funds:
A. Unexpended Plant Funds-
Available Bal. State Appro' s.
Cash on Deposit, State Treas.
Total Unexpended Plant Funds
B. Retirement of Indebt. Funds-
Cash in Bank
Cash on Deposit,State Treas.
Cash on Deposit, Trustee
Inve s tments
Unrealized Income
Total Retirement of Indebted-
ness Funds
C. Invested in Plant-
Land
Buildings
Equipment
Construction in Progress
$ 6,282,913. 15
2, 126,096.99
$ 8,409,010.14
$ 13, 128.66
281,060, 13
212, 866. 24
98,394.38
64, 074.45
$ 3,070,630.43
35,144,243.25
10, 737, 148.03
11, 069, 386.25
669,523.86
Total Invested in Plant
60, 021, 407.96
Total Plant Funds
V. Agency Funds:
Cash in Bank
Inves tments
$ 171,993.98
16,403. 88
Total Agency Funds
$69, 099,941. 9 6
$ 188, 397.86
d
University of Kentucky
Balance Sheet
March 31, 1959
LIABILITIES
IV. Plant Funds:
A. Unexpended Plant Funds-
Reserve for Plant Req' s.
Plant Appro. Balance
$ 6,660,599.85
1, 748, 410. 29
Total Unexp. Plant Funds $ 8, 409, 010. 14
B. Retirement of Indebtedness Funds-
Funds Balances $ 669,523.86
Total Retirement of In-
debtedness Funds
C. Invested in Plant-
. Bonds Payable
Due to Other Govern. Units
Net Investment in Plant
Total Invested in Plant
669,523.86
$ 1 1, 248, 000. 00
1, 9 5 0, 000. 00
46, 8 23, 407. 9 6
60, 021,407. 96
Total Plant Funds
V. Agency Funds:
Agency Funds Balances
$ 188, 397.86
Total Agency Funds
$69, 099,941.96
$ 188,397.86
University of Kentucky
Statement of Unrealized Incorme
For the Current Fiscal Period Which Began
July 1, 1958 and Ended March 31, 1959
GENERAL FUND IN,
COME
I. Educational and General:
A. Student Fees-
Incidental Fees and Tuition
Training School Fees
Adult and Extension Ed. Fees
Total Student Fees
B. State Appropriations-
Division of Colleges
Medical Center
Geological Projects
Agr. Experiment Station
Agr. Extension Service
Total State Appropriations
C. Federal Grants-
Division of Colleges
Agr. Experiment Station
Agr. Extension Service
Total Federal Grants
D. Endowment Income
Estimated
$ 1,4051 000.00
31,000.00
102-000.00
Realized
$ 1,243,379.60
28,096.67
100,674.55
$
Unrealized
161, 620.40
2,903.33
1,325.45
$ 1,538,000.00 $ 1,372,150.82 $ 165,849.18
$ 5, 639 000.00 $ 5,639,000.00 $
438,400.00 236,990.00 201,410.00
183,300.00 183,300.00
804,00.00 804,000.00
931,000. 00 931,000.00
$ 7 ,995;700.00 $ 7,794,290.00 $ 201,410.00
$ 1424177.60 $ 111,194.21 $ 30,983.39
868,893.50 868,893.50
1 955,811L03 1,955,811.03
$ 2,966,882. 13 $ 2,935,898.74 $ 30,983.39
$ 10, 119,5 $ 9,437.50 $ 682.00
E. Sales & Services of Educational
Division of Colleges
Agricultural Experiment Station
Total Sales and Services of
Educational Departments
F. Returned Checks
Total Education and Gen.
II . Service Enterprises:
Post Office
III. Auxiliary Enterprises:
Men, s Residence Halls
Women' s Residence Halls
Total Auxiliary Enterprises
Total General Fund Income
Departments -
$ 20,000.00
650. 000. 00
$
16,756.46
535, 602.16
$ 3,243.54
114, 397.84
$ 670,000Q.00 $ 552,358.62 $ 117,641.38
$ $ (1,352.54) $ 1,352.54
$13,180,701.63 $12,662,783.14 $ 517,918.49
$ 4,000 00 $ 9,936.72 $ (5,936.72)*
$ 202,074.00 $ 191,544,35 $ 10,529.65
402,861,00 352,550.25 50,310.75
$ 604,935.00 $ 544,094.60 $ 60, 840.40
$13, 789,636.63 $ 13,216,814.46 $ 572,822.17
*Realized in excess of estimate
(Negative figure)
e
I
I'University of Kentucky
Statement of Departmental Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended March 31, 1959
I. Educational and General:
A. Gen.Admin. Offices
B. General Expenses-
Student Services
Staff Welfare
Gen. Insti. Services
Total Gen. Exp.
Depa rtmental
Expendituires
Enc um-
Balance
Appropriation brances
$ 188,587.91 $ 133,037.26 $ 1,858.00G $ 53,692.65
$ 308,268,99 $ 218,581.36 $ 5,614.63 $ 84,073.00
98,000.00 70,055.12 27,944.88
160,727.32 99?960u12 28,891.57 31,875.63
$ 566,996.31 $ 388:596 .60 $ 34,506.20 $ 143,893.51
C. Instruction and Dept.
Research -
College of Agr. and
Home Economics
College of Arts and
Sciences
College of Commerce
College of Education
College of Engineering
College of Law
College of Medicine
College of Pharmacy
Graduate School
Univ. Extended Progra
Total Instruction and
Departmental Res.
D. Activities Relating to
Educa. Depts.
E. Organized Research-
University Research
Agr. Exp. Station
Total Org. Research
F. Extension and Pub. Serv
Univ. Extension & Pub.
lic Services
Agr. Extension Serv.
Total Extension &
Public Service
$ 401,170.24
2, 09 3, 79 8. 64
260,967. 46
474,048.50
574, 308. 18
125,690.00
276,808M00
93, 6 1 2. 52
20, 746.02
$ 288,573.78
1,5 35 , 063 . 85
188, 528. 70
340, 090, 75
393,299,01
86, 953 93
109, 161,34
61, 285. 15
15r419, 15
$
3,345. 01 $ 109, 25 1. 45
18,086.67
763. 36
7,402. 73
7,546. 79
1, 803. 50
3, 062. 43
1 , 784. 32
106. 20
540, 648. 12
71, 674. 90
126, 555.02
173,462. 38
36,93 2. 57
164, 584 23
3 0,5 43. 05
5,220,67
ms 364,636.42 $ 264, 724, 79 $ 4,890.91 $ 9 5, 020. 72
$4,685,785.98 $3, 283, 100.45 $ 48,792.42 $1,353,893.11
$ 50,701,35 $ 35p 485. 97 $ 2, 750 ,90 $ 12,464.48
$ 177,985.38 $ 120, 40 1. 3 2 $ 18, 338. 44 $ 39,245,62
22, 2882,779.77 1 , 545, 5 3 0, 23 115,283.73 621,965.81
$2,460,765.15 $1,665,931.55 $ 133,622.17 $ 661,211.43
$ 370,478.02 $ 184,208.26 $ 120,824.61 $ 65,445.15
2,886,811,03 2, 044, 288. 62 30,343.92 812,178.49
$3,257,289.05 $2, 228, 49 6. 88 $ 151,168.53 $ 877,623.64
(continued on following page)
I
g
University of Kentucky
Statement of Departmental Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended March 31, 1959
G. Libraries
H. Operation & Maint. of
Physical Plant
Total Educational and
General
II. Service Enterprises:
Post Office
III. Auxiliary Enterprises:
Men' s Residence Halls
Women, s Residence Halls
Total Auxil. Enterprises
IV. Student Aid
V. Working Capital
VI. Clearing Accounts
VII. Debt Service-Bonds Re-
tired
VIII. Debt Service-Reserve
F unds
Total Departmental
Appropriations
Departmental
Expenditure s
En c um -
Balance
Appropriation brances
$ 459,324.82 $ 341,431.37 $ 6,838.20 $ 111,055.25
$ 1,194,490.00 $ 864,264.47 $ 109,936.44 $ 220,289.09
$12,863,940.57 $8,940,344.55 $ 489.472.86 $3,434, 123. 16
$ 26,080.00 $ 18,736.06 $ 51.30 $ 7,292.64
$ 200,138.32 $ 178,480.61 $ 37,239.50 $ (15,581.79)
396,253.37 Z85,330.83 14,257.17 96,665,37
$ 596,391,69 $ 463,811.44 $ 51,496.67 $ 81,083.58
$ 3,600. 00 $ 1,320.00 $ $ 2,280.00
$ 75,000.00 $ (132,135.84) $ 82,229.85 $ 124,905.99
$ 11,953.51 $ 23 270.48 $ 2,500.30 $ (13,817.27)
$ 43,060.00 $ 43. 060.00 $ $
$ 6,256. 50 $ 6,256.50 $ $
$13,626,7 282.27 $9, 364, 663.19 $ 625,750.98 $3, 635,868.10
(negative figure)
h
1inivers-*.\ of Kentuckv
Statement oi Pla'- Fund Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended March 31, 1959
I. Unexpended Plant Funds:
Men, s New Dormitory
Holmes Hall-Univ. Appro.
Holmes Hall-Bond Proceeds
Phi Delta Theta House
Shawneetown Apartments
College of Pharmacy Bldg.
Swine Barn
Medical School
Med. School Fed. Grant
Med. School Libr. Accl. & Sup
Med. Sci. Bldg.
Alpha Tau Omega House
Northern Extension Center
Western Extension Center
Agr. Exp. Station-Projects
Med. Center Ht. & Cool. P1.
Southeastern Ky. Ext. Cent.
Med. Sci. Bldg. Equip. -Admin
Women' s Dorm. Arch. Serv.
Men' s New Dormitory
Plant Appro--
pr:iations
Expenditures
Enc urn. -
brances
$ 1200.51' $ {44,982. 00, $
2 , R 44 51
10. 55
10, 55 3, 00
I 1, 39 3. 9 8
11, 163. 37
286, 507.96
75, 00. "00
100, 000. 00
545. 5 73. )66
15 0,000. 00
35, 300. 0 0
25, 000. 00
46, 555.5e20
3,279,561.00
27; 270. 00
40,000.00
5 2, 544. 5 1
10. 55
3, 05 3. 00
1 1, 163. 37
254, 812n C
9n, 37. 06
318,472,97
29 I. 1I
26,59 2.39
18, 031. 02
26,701.84
i, 051, 731. 93
19,044.10
3;311.92
1, 800. 005n. rn
7,500 00
13
1,O
1,6
Balance
$ 44, 781. 49
1. 39 3.9 8
1, 056. 69 30, 638. 61
75, 00, 00,
9,462.94
1 128. 33 225,972.36
5.0-_Ct00,00 14, 708.84
8, 707. 61
6,968. 98
5,5 55. 00 4,298.36
54,930, 00I 1,72.,899.07
13, 032.77 4, 806 .87
28, 540, 80 8, 147, 28
;2, 200.00 ;'32, 200. 00'
7, 562,36 172 437,64
Total Unexp.Plant Funds $6,496,232.72
$1,831, 316.48
$2,916,505,95$i 748,410. 29
II . Retirement of Indebt. Funds:
A. Debt Service Fund-
1st P. W.A. Bond issue
2nd P. W.A. Bond -ssue
Dorm. Rev. Bond 1s ue
Aud. -Field House Tssue
Libr. -Service Bldg. issue
Stad. Add. Revenue Is sue
Dorm. Rev. Bond Issue
$ 37, 5 54. 00
18,414. 16
24, 9 80. 25
6.3, 720. 78
75,6 77. 75
20, 225. 53
(456 Rose St. ) 5, 875, 45
Journ. Bldg. Issue 28, 235. 75
Dorm.RevIssue (476 Rose) 5,051. 43
Dorm. Rev, Bonds of 1953-
Stu. Dorms. -U of K 45, 49 8. 48
Stu. Dormsn. -Kappa Sigma 4, 3 02, 9 0
Stu. Dorms. -.Lambda Chi Alpha 5, 244, 79
Stu. Dorms. -Phi Sigma Kappa 3, 137, 88
Stu. Dorms. --Pi Kappa Alpha 4, 863.41
Dorm, Rev. Bonds - 1952 60, 702. 00
Dorm. Rev. Bonds - 19 54 3 1, 9 02. 50
Dorm. Rev. Bonds-1955 176, 943.5 50
Dorm. Rev. Bonds - 19 56
Six Sororities 51 I578. 00
$ 1, 291.90
18, 3 17. 5 1
2, 962. 50
58, 041., 00
35 89 0. 00
2 0, 193. 27
$ 36z262.i0
96. h5
22,017.75
5,679,78
39, 787, 75
32.26
4, 1 1 5. t, 5
12, 883. 75
2,922. 5)0
1, 759. 80
15, 3 52. 00
2, 128,93
3,693 74
1, 846. 87
1, 846. 8 8
1, 84(, 88
1, 846. 88
17.683. 75
10 400. 64
45,413. 10
41, 804,74
2, 456..03
3,397 91
i ?89 1. 00
3, 0 16,53
43, 0 1 825
21, 5 01. 86
131, 530. 40
20, 672, 50
3 0, 9 05, 5 0
Balances Carried For' d $ 664,508,56
$ 261;869.32
$
$ 402,639.24
(negative figure)
$
i
University of Kentucky
Statement of Plant Fund Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended March 31, 1959
Balances Brought Forward
Dormitory Revenue Bonds-
1956-Reserve
Dormitory Revenue Bonds-
1956 (338 Clifton Avenue)
Dormitory Revenue Bonds-
1956 (Holmes Hall)
Dormitory Revenue Bonds-
1956 -(Shawnee town)
Dormitory Revenue Bonds-
1957-(468 Rose St. )
Total Debt Service
Fund
Plant Appro-
Expendi-
Encum-
priations tures brances Balance
$ 664,508.56 $ 261,869.32 $ $ 402,639.24
12, 500. 00 12,500.00
8,386.00 3,175.00 5,211 00
48,197.50 15,752. 92 32,444.58
59,438.00 59,Z90.00 148.00
8,331. 00 6, 200. 00 2,131.00
$ 801,361.06 $ 346,287.24 $ $ 455,073.82
B. Sinking Fund Reserves
with Trustee:
Dormitory Revenue Bonds-
1952-Reserve $
Dormitory Revenue Bonds-
1954-Reserve
Dormitory Revenue Bonds-
1956-Reserve (Holmes
Hall)
Dormitory Revenue Bonds-
1956-Reserve (Shawneetown)
81, 808.00
43,457. 00
59,243.72
139,941.32
$
$
$ 81,808.00
43,457.00
44, 000. 00
15, 243.72
66,000. 00
73,941.32
Total Sinking Fund Re-
serves with Trustee $ 324.450.04 $ 110, 000. 00 $ 214,450. 04
Total Retirement of In-
debtedness Funds $1,125,811.10 $ 456,287.24 $ $ 669,523.86
Total Plant Fund Ap-
propriations $7,622,043.82 $2,287,603.72 $2,916,505.95$2,417,934.15
j
University of Kentucky
Statement of Other Fund Transactions
For the Current Fiscal Period Which Began
July 1, 1958 and Ended March 31, 1959
Balances
July 1, 1958
Receipts
Disburse-
ments
Balances
Mar. 31,1959
Restricted Funds:
Funds Balances
Loan Fund:
Principal
Expendable
Subtotal
Endowment Funds:
Principal
Expendable
Subtotal
Agency Funds:
Balances
Combined Totals
$2,483, 804.90 $5, 350,978.49 $5, 560,677.36 $2,274,106. 03
$ 73,424.81 $ 5,817.00 $ $ 79, 241. 81
40,609.19 2,160.98 152.43 42,617.74
$ 114,034.00 $ 7,977.98 $ 152.43 $ 121,859.55
$ 226,642.41 $ 1,600.00 $ $ 228, 242.41
5,542.78 855.66 6,398.44
$ 232,185.19 $ 2,455.66 $ $ 234,640.85
$ 102,267.53 $1,028,895.16 $ 942,764.83 $ 188,397.86
$2,932,291.62 $ 6,3 90,307. 29 $6.503,594.62 $2!819,004.29
12
Members of the Board being advised, on motion duly made, second-
ed and carried, the report was authorized received and put to record.
D. Contract with the Board of Agriculture Approved.
Mr. Peterson submitted contract with the Board of Agriculture
which provides for the Experiment Station to make diagnostic tests in con-
nection with the live stock program in the State. the Commissioner of Agri-
culture having agreed to transfer the sum of $25, 000 to the Experiment
Station to pay for expenses in connection with the program. Mr. Peterson
explained that the contract, as drawn, set up $20 000, with the understanding
that an additional $5, 000 might be available. Commissioner Butler, being
present, concurred in the fact that another $5. 000 would be available. Mr.
Peterson recommended approval of the contract, based upon a transfer of
$25, 000.
Upon motion duly made, seconded and carried, the contract was
authorized amended and executed.
E. Contract with the Kentucky Tourist Commission Approved.
Mr. Petersor; subbmitted contract providing for payment of $7, 500
by the Kentucky Tourist Commission to the University off Kentucky for doing
research and preparing a report concerning attractions for tourists and va-
cationers. The work will be done by the University Bureau of Business Re-
search. The College of Commerce, Bureau of Business Research, the Divi-
sion of Parks, the Department of Conservation and the Department of Wild
Life Resources will cooperate in the study as requested by the Bureau of
Business Research. Mr. Peterson recommended that the contract be ap-
proved.
Upon motion duly made, seconded and carried, the contract was
approved and authorized executed on behalf of the University.
F. Contract between the University of Kentucky, Agricultural
Experiment Station, and Mr. Emery Horn
Mr. Peterson submitted agreement between the University of
Kentucky and Mr. Emery A. Horn for a research project in testing a known
dwarf herd of beef cattle. Mr. Horn will furnish from ten to twenty beef
cows that have produced dwarf calves. They will remain in the care of the
University for a period of time sufficient to conduct the tests. The University
will feed and care for the cattle throughout the tests. Both parties will
share the calves produced from the cows tested on the basis of one-third
to the University and two-thirds to the owner of the cattle. The tests will
run for a period of three years. The University will not be held responsi-
ble in case of loss of cows and calves not due to negligence.
13
Mr. Peterson recommended approval of the contract, and upon
motion duly made, seconded and carried, the contract was authorized exe-
cuted on behalf of the University.
G. American Cyanamid Company Contract Approved.
Mr. Peterson submitted contract between the American Cyanamid
Company and the University of Kentucky Agricultural Experiment Station.
The Station will study potential compounds used in the control of bloat, and
the location of compounds that will have effects on stable froth formation
and the possible alleviation of bloat. The American Cyanamid Company agrees
to contribute $2, 000 toward the expenses of the tests.
Mr. Peterson stated that he had studied the contract and had the
recommendation of Dean Welch., Dr. W. P.. Garrigus and Dr. Don R. Jacob-
son. He recommended approval.
Upon motion duly made, seconded and carried, the contract was
approved and authorized executed.
Ho Sigma Chi Fraternity Contractual Arrangements Approved.
Mr. Peterson reported that the Sigma Chi fraternity desired to
make available to the University without cost to the University a site located
at the corner of Woodland and Hilltop Avenues, on which a small dormitory
(fraternity house) would be constructed according to plans and specifications
approved by the University. He stated that the fraternity would pay to the
University the cost of the site, which is now in the name of the University.
The fraternity house corporation will construct a building that will cost
approximately $135. 000 and that will meet the University' s approval in ev-
ery way. When the house is completed, the University will issue revenue
bonds not to exceed $150, 000, acquire title to the property and enter into a
lease agreement with the Sigma Chi fraternity whereby the fraternity will
occupy the house and pay an annual rental sufficient to amortize the bond
issue, pay the interest and keep the property insured.
The Sigma Chi fraternity, desiring to do the contracting and
construction work prior to acquisition by the University, requests that an
irrevocable offer to purchase be submitted, which arrangement has been
approved by the State Property and Building Commission, Frankfort, Ky.
The request and recommendation were discussed, and upon motion duly made,
seconded and carried, the Vice President, Business Administration, was
authorized, with the approval of the State Property and Building Commission,
to issue an irrevocable offer to purchase the building when constructed ac-
cording to plans and specifications to house not more than 48 nor fewer than
40 boys, with a housemother, in accordance with plans and specifications
approved by the University.
14
The Vice President, Business Administration, was authorized
to accept payment from the Sigma Clhi fraternity or the Sigma Chi House
Corporation, representing the purchase price of the site at the corner of
Woodland and Hilltop avenues, the site to be 90 feet on Hilltop Avenue and
153 feet frontage on Woodland Avenue. The application was authorized made
to the Housing and Home Finance Administration, Atlanta, Georgia, for a
loan sufficient to acquire the property, but not to exceed $150, 000, and to
do any and all necessary acts to consummate the agreement.
I. Alpha Gamma Rho Agreement Approved.
Mr. Peterson stated t'rai: the House Corporation of the Alpha Gam-
ma Rho fraternity hact asked the Univers.Lty to construct a house on property
at 460 Clifton Avenue. The Alpha Gamma Rho fraternity agrees to pay pur-
chase price of $21 000 for the lot, 90 feet frontage on Clifton Avenue and
153 feet on Woodland Avenue. The building is to house 44 to 48 boys and a
housemother, and will cost $135,000. the total not to exceed $150, 000. It
was explained that it would cost approximately $15, 000 for site preparation,
legal counsel fees, financing charges in connection with the sale of the bonds,
architect, s fees, and interest during construction,,
Members of the Board discussed the request, and on motion
duly made, seconded and carried, Mr. Peterson, Vice President, Business
Administration, was authorized to proceed and consummate the purchase of
the site by the house corporation of Aloha Gamma Rho and have plans and
specifications prepared by an architect. He was further authorized to
process application of a loan from the Housing and Home Finance Agency of
the Federal Government.
J. Budget Adjustments.
Mr. Peterson r-ecommended a request of Dean Frank J. Welch
for transfer of $22,500 from the Agricultural Experiment Station Revolving
Fund to Account 1677-. 2, Animal Industry account, to take care of an over-
draft which was caused by the department overspending appropriated funds
in the care of livestock.
The Vice President) Business Administration, also recommended
transfer of $200, 00 from Unappropriated Surplus of the University Budget,
Division of Colleges, to Account 520 for Foreign Language Conference. He
explained that this increase was to take care of additional printing costs
for the Foreign Language Conference.
Mr. Peterson also recommended appropriation of $2,000 from
the Haggin Fund to pay the cost of operating a sumner workshop for English
teachers. He stated that this money would be offered in the form of scholar-
ships. He reported the University had experienced excellent results in
operating the workshop during the past few years and that $2, 000 would per-
mit the College of Arts and Sciences to offer 20 scholarships to English
teachers attending the Workshop.
15
Members of the Board being advised, upon motion duly made,
seconded and carried, the recommendations were approved and the necessary
budget adjustments were authorized rrade.
K. Sale of Surplus Property.
Mr. Peterson reported the following list of property to be surplus
to the needs of the Kentucky Geological Survey and recommended that he be
authorized to sell the property:
1 filing cabinet: standard 81 x 11 - 4 drawer
1 desk: metal 30 x 36 x 30 high; slant top
1 desk: wooden 60 x 36 by 30 high
1 filing cabinet, wooden, probably for odd size cards and of very
little use.
2 670-15 4-ply tires
1 670-15 4-ply boot and break
2 710-15 4-ply tires.
Mr. Peterson also submitted a detailed list of worn-out equipment
in the Princeton Substation and requested authority to sell all the property
possible and to junk the other property on which no bids are received.
REQUEST PERMISSION TO SELL
(Already Removed from Inventory)
Inventory No. Item
WK 228 Brooder, Simplex, oil - J
170, 171
172 3 Brooders, coal - J
173, 174
175, 176 4 Electric Brooders, canopy type
63 Disk, orchard, team - J
59 Drill, Superior, grain, 6 ft. , tearri - J (junk)
Sta, Transplanter, tobacco, Bemis - J (from Lex.)
181 Boiler, steam (Junked)
179 Mower, Jari, power scythe (N. G.
23,31 2 Electric fans, 10 inch - J
137 Plow, Avery, 2-horse - J
Sink, milk room - J
164
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201 Harrow, spring tooth - J
204, 205
206, 207 4 Scrapers, pond, team - Obsolete
163 Cream Separator
126 Corn Sheller, IHC
(Items Not Yet Removed from Inventory)
221 Grader - Terracer, Martin, 7 ft.
84 Loeder, hay
284 Duster, Niagara (W. D.A. item)
8 Typewriter, L. C. Smith #370675-8 (VTal. $2. 50)
22 Typewriter, Royal #H-1741722 (Val. $15. 00)
133 1 # 19 Oliver Z-H Plow
134 1 #19 Oliver 2-H Plow
212 1 Drill, Superior, grain, 7", team
162 Heater, oil, 7"' burner
468 Cut-All Harrow (bush & bog), Avon Model L
165 Milk Cart, 2-wheel, DeLaval
3 89, 39 0
391, 392 Nests, metal, roll-away
211 Seed Cleaner
Old Items Not on Inventory to Be Junked and Sold
1 Mule-drawn Binder Truck
1 Pitcher Pump
1 Forge
1 Dump Rake, Team
1 Gasoline Pump
1 Holden Lime Spreader
4 Metal Roll-away Nests
1 Cotton Drill
1 Cotton Plow
1 Team Disc Harrow
1 Avery Hillside Plow
Upon motion duly made, seconded and carried, the request was
approved and the property listed above authorized sold.
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L. Fees Fixed for College of Medicine.
Mr. Pepx-so&r submitted recommendation for the establishment
of registration and incidental fees for the College of Medicine beginning Sep-
tember, 1960. He stated that he was submitting a joint recommendation of
Dr. Willard, Dr. Dickey, Dr. Chamberlain and himself for a fee of $450. 00
for Kentucky residents and a fee of $800. 00 for non-resident students for
each academic year. Mr. Peterson submitted information to indicate that
the resident fees for public medical schools would be somewhere between
$450. 00 and $500. 00, and for non-resident students between $800. 00 and
$900. 00. Members of the Board discussed the recommendation and asked
questions concerning the fees charged by other institutions, and after a
general discussion, upon motion duly made, seconded and carried, the
registration and incidental fees for the College of Medicine for the academic
year were fixed at $500. 00 for Kentucky residents and $950. 00 for non-
resident students, effective September, 1960.
M. Sale of $150, 000 Revenue Bonds, 342 Clifton Avenue Sold.
The hour of 10:00 a. m. , Central Standard Time, having already
arrived for the consideration of the bid or bids on the $150, 000 of University
of Kentucky Dormitory Revenue Bonds (342 Clifton Avenue) dated June 1,
1958, fnd the matter having been sufficiently considered, a motion was made
by Dr. Ralp