xt7w0v89h99r https://exploreuk.uky.edu/dips/xt7w0v89h99r/data/mets.xml Lexington, Kentucky University of Kentucky 19590616 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, 1959-06-jun16. text Minutes of the University of Kentucky Board of Trustees, 1959-06-jun16. 1959 2011 true xt7w0v89h99r section xt7w0v89h99r
Minutes of the Meeting of the Board of Trustees of the University
of Kentucky, June 16, 1959.
The Board of Trustees of the University of Kentucky met, pursuant
to an order of adjournment, in the President? s office on the campus of the
University of Kentucky, at 9:00 a. m., CST (10:00 a. m. CDT), on the 16th
day of June, 1959, in an adjourned regular meeting pursuant to the provisions
of KRS 164. 170. The following members were present: Governor Albert
B. Chandler, Chairman; Robert P. Hobson, Vice Chairman; Mrs. Paul G.
Blazer, W. F. Foster, Dr. Paul B. Hall, Wood Hannah, Sr., Dr. William
C. Wilson, Floyd H. Wright, Robert H. Hillenmeyer and Ben Butler. There
were absent: Robert R. Martin, Harper Gatton, Clifford E. Smith, Dr.
Ralph J. Angelucci and J. Stephen Watkins. The President of the University,
Dr. Frank G. Dickey, and Secretary, Dr. Frank D. Peterson, were also
present.
A. Approval of Minutes.
Upon motion duly made, seconded and carried, the minutes of the
Board of Trustees meeting of April 7, 1959; and the minutes of the Executive
Committee meeting of May Z2, 1959, were approved as published.
B. Financial Report Submitted.
The Vice President, Business Administration, submitted the fol-
lowing financial report:
UNIVERSITY OF KENTUCKY
LEXINGTON
June 8, 1959
Dr. Frank G. Dickey, President
University of Kentucky
Lexington, Kentucky
Dear Doctor Dickey:
I am submitting herewith the Financial Report of the Uni-
versity of Kentucky for the eleven-months period ended May 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 $13,008,276.63 or98.7% of the budgetestimate
of $13,180,701.63. The expenditures, including encumbrances
outstanding, amount to $11,711,777. 89. This represents 91. 0%
of the total General Fund Appropriations of $12, 864, 746 98.
Respectfully submitted,
Frank D. Peterson
Vice President
Business Administration
a
University of Kentucky
Balance Sheet
May 31, 1959
ASSETS
I. Current Funds::
A. General-
Cash in Bank $
Available Bal. , State Appro' s
Cash on Deposit,State Treas. 1,
Inventories
Deferred Charges
Unrealized Income
Total General
B. Restricted-
Cash in Bank
Petty Cash Advances
Investments
Total Restricted
Total Current Funds
II. Loan Funds:
Cash in Bank
Notes Receivable
Investments
Total Loan Funds
HII. Endowment Funds:
Cash in Bank
Inve stments
504,298.74
353,731.98
410,037.87
280,308.61
52,666.20
219,578.28
$2,8Z0,621.68
$ 712,922.29
17,573.71
1,594,547.86
2,325,043. 86
$5,145,665.54
$ 27,221.95
66,587. 10
54,500.00
$ 148,309. 05
$ 8,280.50
226,360.35
Total Endowment Funds
$ 234,640.85
b
University of Kentucky
Balance Sheet
May 31, 1959
LIABILITIES
I. Current Funds:
A. General-
Reserve for Dept. Req' s.
Reserve for Inventories
Reserve for Aux. Enterprises
Other Liabilities
Appropriation Balance
Unappro. Surplus-
Division of Colleges $215,412.30
Medical Center 4,397.59
Agr. Exp. Station 182,863.47
Total General
B. Restricted-
Outstanding Check Liability
Restricted Funds Balances
$ 771,711.72
280,308.61
43,921.00
52, 666. 20
1,269,340.79
402,673.36
$2,820,621. 68
$ 6,415.94
2,318,627.92
Total Restricted
2,325,043.86
$5,145,665.54
Total Current Funds
II. Loan Funds:
Principal Balances
Expendable Balances
Total Loan Funds
III. Endowment Funds:
Principal Balances
Expendable Balances
$ 106,091. 14
42,217.91
$ 148,309. 05
$ 228,242.41
6,398.44
Total Endowment Funds
$ 234,640.85
C
University of Kentucky
Balance Sheet
May 31, 1959
ASSETS
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 Depos. ,State Treas.
Cash on Depos., Trustee
Inve s tment s
Unrealized Income
Total Retirement of Indebted-
ness Funds
C. Invested in Plant-
Land
Buildings
Equipment
Construction in Progress
Total Invested in Plant
Total Plant Funds
V. Agency Funds:
Cash in BanJk
Investments
$16,327,161.01
2,039,323.78
$ 18, 366,454. 79
$ 18, 841.34
139,151.79
3,373. 73
211,895. 64
34,071. 05
407,333.55
$ 3.070,630.43
38,200,243. 25
10,737,148.03
8,013,386.25
60,021,407.96
$78,795,226.30
$ 174,736.64
16,403. 88
Total Agency Funds
$ 191, 140. 52
d
University of Kentucky
Balance Sheet
May 31, 1959
LIABILITIES
IV. Plant Funds:
A. Unexpended Plant Funds-
Reserve for Plant Req' s.
Plant Appro. Balance
Total Unexp. Plant Funds
$ 5,515,700. 59
12,850,784. 20
$18,366,484.79
B. Retirement of Indebtedness Funds-
Funds Balances $ 407,333.55
Total Retirement of In-
debtedness Funds
C. Invested in Plant-
Bonds Payable
Due to Other Gov. Units
Net Investment in Plant
Total Invested in Plant
Total Plant Funds
V. Agency Funds;
Agency Funds Balances
407,333.55
$11,262,000.00
1,800,000.00
46,959,407.96
$60,021,407.96
$78, 795,226. 30
$ 191,140. 52
Totai Agency Funds
Zp 19 1, 140. 5 2
e
University of Kenttucky
Statement of Unrealized Income
For the Current Fiscal Period Which Began
July 1, 1958 and Ended May 31,
1959
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 Apprao-s.
C. Federal Grants-
Division of Colleges
Agr. Experiment Station
Agr. Extension Service
Total Federal Grants
D. Endowment Income
E. Sales & Services of Ed. Depts.
Division of Colleges
A gr. Experiment Station
Total Sales and Ser-
vices of Ed. Depts.
F. Returned Checks
Total Ed. & Gen.
Il. Service Enterprises
Post Office
III. Auxiliary Enterprises:
Men, s Residence Halls
Women, s Residence Halls
Total Auxiliary Enter-
prises
Total General Fund
Inc ome
GENERAL FUND
Estimated
$ 1,405,000. 00
31,000. 00
102, 000. 00
Realized
$ 1,251,502.09
31,241.67
107,778.70
INCOME
Unrealized
$ 153,497.91
241. 67*
5,778. 70*
$ 1,538. 000, 00 $ 1,390,522.46 $ 147,477. 54
$ 5,639,000. 00 $ 5,639,000. 00 $
438,400. 00 438,400. 00
183,300.00 183,300.00
804,000. 00 804,000. 00
931,000. 00 931,000. 00
$ 7,995,700.00 $ 7,995,700. 00 $
$ 142,177.60 $ 126,968&58 $ 15,209. 02
868,893.50 868,893. 50
1,955,811.03 1,955,811. 03
$ 2,966,882.13 $ 2,951,673. 11 $ 15,209.02
$ 10,119.50 $ 9,437. 50 $ 682.00
$ 20,000.00 $ 24,411.02 $ 4,411.02*
650,000.00 637,903. 78 12,096.22
$ 670,000.00 $ 662,314. 80 $ 7,685.20
$ $ (1,371.24) $ 1,371.24
$13,180,701.63 $13,008,276.63 $ 172,425.00
$ 4,000. 00 $ 10,639. 88 $ 6,639. 88*
$ 202,074.00 $ 195,470.85 $ 6,603. 15
402,861.00 355,670.99 47,190.01
$ 604,935.00 $ 551,141.84 $ 53,793.16
$ 13, 789,636. 63 $13,570,058.35 $ 219,578. 28
* Realized in excess of estimate.
)Negative Figure)
f
University of Kentucky
Statement of Departmental Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended May 31, 1959
Departmental
Appropriation
Expenditures
I. Educational and General:
A. Gen. Admin. Offices
B. General Expenses-
Student Services
Staff Welfare
Gen. Inst. Services
Total Gen. Exp.
$ 193,329.93 $ 170,794.19 $ 1,277.39 $ 21,258.35
$ 310,252.22 $ 272, 106. 74 $ 16,140.35 $ 22, 005. 13
98,000.00 94,802.55 3,197.45
160, 177.32 123 , 370.22 25, 223.39 11, 583.71
$ 568,429.54 $ 490, 279.51 $ 41, 363. 74 $ 36, 786.29
C. Instr uction and Dept.
Research -
College of Agr. and
Home Economics $ 400,359.45
College of Arts and
Sciences 2,094,337.65
C ollege of Commerce 260,967.46
College of Education 474,699.97
College of Engineering 572, 276.52
College of Law 124,869.21
College of Medicine 261,688.00
College of Pharmacy 93,612.52
Graduate School 20,746.02
Univ. Extended Prog. 363,475.58
Total Instruction a
Dept. Res.
D. Activities Relating to
Educa. Dept s.
$ 353,828.45
1,892,474.45
229,996.18
420,983.05
487,689.59
107,660.64
141,076.29
77,406.84
18,781.77
325,669,60
$ 9, 167.01 $
18,424. 14
5, 608. 67
3,835.35
14,928. 19
4,971.45
20,307.20
2, 523. 89
13.95
7, 196. 27
37,363.99
183,439.06
25,362.61
49,881.57
69 658. 74
1Z,237. 12
100,304. 51
13,681.79
1,950.30
30,609.65
and
$4,667,032.38 $4,055,566.92 $ 86,976.12 $ 524,489.34
$ 51,218.00 $ 42,112.66 $ 2,615.68 $ 6,489.66
E. Organized Research-
University Research$ 178,384.70
Agr. Exp. Station 2,279,579.77
$ 151,549.93
1, 903 , 498. 88
$ 17,751.39
168,314.25
$
9,083.38
207,766.64
Total Org. Re-
search
$2,457,964.47 $2,055, 048.81 $186,065.64 $ 216,850.02
F. Extension & Pub. Serv.
Univ. Exten. & Pub.
lic Services $ 370,429.42
Agr. Extension Serv. 2,886,811.03
Total Extension &
Public Service $3,257,240.45
$ 289,015.84
2,520,001.63
$2,809,017.47
$ 73,765.15 $
111, 819.26
$185,584.41 $
7. 648.43
254,990. 14
26Z,638.57
continued on following page)
Enc urn -
brances
Balance
_
g
University of Kentucky
Statement of Departmental Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended May 31, 1959
G. Libraries
H. Operation & Maint. of
Physical Plant
Total Educational &
General
LT. Service Enterprises:
Post Office
III. Auxiliary Enterprises:
Men' s Res. Halls
Women' s Res. Halls
Total Auxil. Enter-
prises
IV. Student Aid
V. Working Capital
VI. Clearing Accounts
VII. Debt Service-Bonds Re-
tired
VIII. Debt Service-Reserve
Funds
Total Departmental
Appropriations
Depa rtmental
Expenditures
Encum -
Appropriation brances Balance
$ 475,042. 21 $ 428,154.5 6 $ 9,246.70 $ 37,640.95
$ 1,194,490.00 $ 1,052,208.67 $ 95,465.42 $ 46,815.91
$12,864,746.98 $11,103,182.79 $ 608,595.10 $ 1,152,969.09
$ 26,080.00 $ 22,854.75 $ 118.40 $ 3,106.85
$ 200,138.32 $ 190,838.50 $ 37,321.72 $ (28,021.90)
396,253.37 325,435,54 9,948.80 60,869.03
$ 596,391.69 $ 516,274.04 $ 47,270.52 $ 32,847.13
$ 3,600.00 $ 1,800.00 $ $ 1,800.00
$ 75,000.00 $ (105,222.02) $ 89,072.59 $ 91,149.43
$ 13,160.23 $ 24,081.87 $ 1,610.07 $ (12,531.71)
$ 43,060.00 $ 43,060.00 $ $
$ 6,256.50 $ 6,256.50 $ $
$13,628,295.40 $11,612,287.93 $ 746,666.68 $ 1, 269,340. 79
(negative figure)
h
University of Kentucky
Statement of Plant Fund Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended May 31, 1959
Plant Appro-
priations
Expenditures
I. Unexpended Plant Funds:
Electrical Distribution $ 2, 000. 00
Holmes Hall-Un. Ap. (200. 51)
Holmes Hall-Bond Proc. 52, 544. 51
Phi Delta Theta House 10. 55
Shawneetown Apts. 10, 553. 00
College of Pharmacy Bldg. 11,393.98
Swine Barn 11, 163.37
Medical School 356,507.96
Medical Center Hospital 12,500, 000. 46
Med. Sch. Libr. Acq. & Sup. 100, 000. 00
Med. Sci. Bldg. 145,945. 66
Alpha Tau Omega House 150, 000. 00
Northern Extension Center 35,300. 00
Western Extension Center 25, 000. 00
Agr. Exp. Sta. -Projects 49, 755. 20
Med. Center Ht. & Cool.Plant 2,147,993. 00
Southeastern Ky. Ext. Cent. 27, 270. 00
Med. Sci. Bldg. Equip. -Admin. 40, 000. 00
Six Sor. Dormitories 1, 506. 65
Women' s Dorm., Arch. Serv.
Men' s New Dormitory
1,800,000.00
$
(44,982.00)
52,544.51
10. 55
10,553. 00
11, 163.37
349,424.59
98,544.36
16,387.95
291, 16
26,930.82
18,031. 02
31,503.65
1,503,689.95
19,313. 88
5, 782. 42
$
$ 2,000. 00
44,781.49
1
6
2,671.40 1,6
11,393.98
41,548.55 (34,465. 18)
12,500,000.46
1,455.64
32,524.04 97,033.67
L35,000. 00 14,708.84
1. 00 8,368. 18
6,968.98
13,296. 82 4,954. 73
z02,971.98 41,331. 07
1.00 7,955. 12
27,993.25 6,224.33
1, 506.65
33,200. 00 (33,200. 00)
p27,562.36 169,766.24
Total Unexp. Plant Funds $17,466,743.83
$2, 101,860.63 $2,514, 099. 00o$12, 350, 784. 20
II. Retirement of Indebt. Funds:
A, Debt Service Fund-
1st P. W. A. Bond Issue $
2nd P. W. A. Bond Issue
Dorm. Rev. Bond Issue
Aud. -Field House Issue
Libr. -Service Bldg. Issue
Stad. Add. Revenue Issue
Dorm, Rev. Bond Issue
(456 Rose St. )
Journ. Bldg. Issue
Dorm. Rev. Is. (476 Rose)
Dorm, Rev. Bonds of 1953-
Stu. Dorms. -U of K
Stu. Dorms. -Kappa Sigma
Stu. Dorms. -Lambda Chi A.
Stu. Dorms. -Phi Sigma Kappa
Stu, Dorms. -Pi Kappa Alpha
Dorm. Rev. Bonds- 1952
Dorm. Rev. Bonds - 1954
Dorm. Rev. Bonds- 1955
Dorm. Rev, Bonds- 1956
Six Sororities
Balances Carried For' d. $
(negative figure)
37, 554.00
18,414. 16
24,980. 25
63,720.78
75,677. 75
20, 225. 53
$
1, 291.90
18,317.51
20,925.00
58,041.00
35,890. 00
20, 193. 27
5,875.45 4,115.65
28,235. 75 12,883.75
5,051.43 3,817.50
45,498.48
4,302.90
5, 244. 79
3,737. 88
4,863.41
60, 592. 00
31,839.50
176,943.50
$ 36,262. 10
96. 65
4,055.25
5,679. 78
39 , 787. 75
32. 26
1, 759. 80
15,352 00
1,233.93
13,723 49
2,456.03
3,39 7. 9 1
1,891. 00
3,016 53
224. 50
77.61
47,254. 15
31, 774. 99
1, 846. 87
1. 846.88
1,846.88
1,846.88
60,367.50
31,761. 89
129,689.35
51,578. 00 5 1, 345. 00 233, 00
664,335.56 $ 487,801. 82 $ $ 176, 533,74
Encum-
brances
Balance
i
University of Kentucky
Statement of Plant Fund Appropriations
For the Current Fiscal Period Which Began
July 1, 1958 and Ended May 31, 1959
Plant Ap-
propriations
Expendi-
tures
E nc um -
brance s
Balance
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 (Shawneetown)
Dormitory Revenue Bonds-
1957-(468 Rose St. )
University of Ky. Dormitory,
( 342 C lifton)
Tota l Debt Service Fund$
664,335.56 $
487,801.82
$
$ 176,533.74
12,500. 00
8,386. 00
12,500.00
8,350.00
36. 00
47,699. 17 47,699. 17
59,290.00 59,290.00
8,331.00
8,310. 00
2,_973. 44
803,515. 17 $ 611,450.99
21.00
2,973.44
$ 19Z, 064. 18
$
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(Shawnee -
town)
81,918. 00$
$
$ 81,918. 00
43,5 20.00
59,742.05 44,000.00
140,089. 32
66,000. 00
Total Sinking Fund Re-
serves with Trustee $
325,269.37 $
110,000.00 $
$ 215,269.37
Total Retirement of In-
debtedness Funds
Total Plant Fund Ap-
propriations
$ 1,128,784.54$ 721,450.99 $ $ 407,333.55
$18,595,528.37$2,823,311. 62 $2,514,099.00 $13,258,117.75
43, 520. 00
15,742.05
74,089.32
University of Kentucky
Statement of Other Fund Transactions
For the Current Fiscal Period Which Began
July 1, 1958 and Ended May 31, 1959
Restricted Funds:
Funds Balances
Loan Fund:
Principa
Expendable
Subtotal
Endowment Funds:
Principal
Expendable
Subtotal
A Enc Funds:
Bsalance s
Combined Totals
Balances
Disburse -
Balances
July 1, 1958 Receipts ments May 31, 1959
$2,483,804.90 $6,103,852. 50 $6, 269,029.48 $2,318,627.92
$ 73,4Z4.81 $ 3Z,666.33 $ $ 106,091. 14
40,609. 19 1,925. 28 316. 56 42. 217. 9 1
$ 114,034. 00 $ 34,59 1. 61 $ 316. 56 $ 148,309. 05
$ 226,642. 41 $ 1,600.00 $ $ 228,242.41
5,542. 78 980. 66 1Z5. 00 6,398. 44
$ 232,185. 19 $ 2,580. 66 $ 125. 00 $ 234,640.85
$ 102,267. 53 $1, 263,374. 74 $1,174,501.75 $ 191,140.52
$2,932,29 1. 62 $7,404, 399. 51 $7,443,972. 79 $2,892,718. 34
j
13
Members of the Board being duly advised, upon motion duly
made, seconded and carried, same was ordered received and put to record.
C. The Magnolia Petroleurn Company Scholarship Memorandum
Approved.
Mr. Peterson presented memorandum from the Magnolia Petroleum
Company, establishing a scholarship arrangement at the University of Kentucky
in the Department of Civil Engineering. The objectives are to encourage,
assist and recognize students in the Department of Civil Engineering. In the
selection of the recipient, careful consideration should be given to each
studentt s scholarship record, evidence of leadership, character and sincerity
of purpose. The recipient shall preferably be a senior student. The recip-
ient shall receive the sum of $400, 00; likewise, the Civil Engineering depart-
ment shall receive the sum of $400. 00 which shall be used for betterment of
the department. Mr. Petersn, recommended that the offer be accepted.
Upon motion duly made, seconded and carried, the Magnolia Pe-
troleum Company Scholarship arrangement was approved and accepted.
D. Agreement under Master Contract TV-13411A between the Uni-
versity of Kentucky and the Tennessee Valley Authority.
Mr. Peterson submitted contract with Tennessee Valley Authority
whereby the University agrees to furnish, through its Department of Agronomy,
office space, office furniture, secretarial service (on half-time basis), and
local telephone service. The Tennessee Valley Authority agrees to reim-
burse the University at the rate of $200. 00 per month for the services
furnished it. The Tennessee Valley Authority will distribute fertilizer in
Kentucky and the surrounding states in an educational program directed to
the widespread introduction of new, improved and lower-cost fertilizers;
demonstration of more efficient and effective fertilizer use; lower cost of
plant nutrients; and process, distribution and product improvements.
Mr. Peterson recommended that the Contract be approved and au-
thorized executed. Upon motion duly made, seconded and carried, the Agree-
ment under TVA Contract TV-13411A was approved and authorized executed.
E. Amendment No. 1 to ICA Contract Approved.
Mr. Peterson submitted Amendment No. 1 to Contract between the
United States of America and the University of Kentucky, PIO/T 97-11-004-
3-80131; PIO/T 97-11-112-3-90020. He explained that the real purpose of
the Amendment to the ICA (Bogor) Contract is to make it possible for the
Federal Government to pay for and advance home travel to contractor' a per-
sonnel serving in Indonesia under contract. The Amendment sets forth the
conditions under which Contractor may advance or grant home travel to
staff members.
14
Mr. Peterson explained that this Amendment was acceptable to
both the International Cooperation Administration and the University of Ken -
tucky and recommended its authorization.
Upon motion duly made, seconded and carried, Amendment No.
1 to ICA Contract was approved and authorized executed.
F. Sale of Surplus Property Authorized.
Mr. e.xrn.asnrequested approval of sale of one General Electric
refrigerator, AG26128, which has become surplus to the needs of the School
of Home Economics.
Upon motion duly made, seconded and carried, the surplus prop-
erty was authorized disposed of.
G. Sale of $1,800,000 Dormitory Revenue Bonds.
When the hour of 10:00 o'clock a. m. , Central Standard Time, had
arrived, the Chairman called attention to the fact that this was the time and
place fLxed in the published notice for consideration of proposals for the
purchase of One Million Eight Hundred Thousand ($1, 800, 000. 00) Dollars
principal amount of the University? s Housing Bonds of 1958.
WHEREUPON, the Board received from the Secretary and opened
and duly considered all bids. After deliberationAsr. Paul B. Hall introduced
and caused to be read in full a proposed resolution entitled, "RESOLUTION
PROVIDING FOR THE SALE AND AWARD OF $1,800, 000. 00 OF UNIVER-
SITY OF KENTUCKY HOUSING BONDS OF 1958, AND FIXING THE IN-
TEREST RATE(S) FOR SAID BONDSMAN
WHEREAS, in a resolution adopted by this Board at a meeting
held on the 7th day of April, 1959, entitled, 91A RESOLUTION OF THE BOARD
OF TRUSTEES OF THE UNIVERSITY OF KENTUCKY AUTHORIZING AND
PROVIDING FOR THE ISSUANCE, SALE AND DELIVERY OF ?UNIVERSITY
OF KENTUCKY HOUSING BONDS OF 1958?, OF THE UNIVERSITY OF
KENTUCKY, TO PAY THE COSTS (NOT OTHERWISE PROVIDED) OF CON-
STRUCTING AN ADDITIONAL MEN? S DORMITORY PROJECT UPON THE
CAMPUS OF THE UNIVERSITY"9, which resolution was duly adopted, the
Secretary was authorized and directed to execute an appropriate form or
forms of 'Notice of Sale of Bonds"', and cause the same to be published once
a week for three (3) successive weeks as required by law in The Courier-
Journal of Louisville, Kentucky, and one (1) time in The Bond Buyer, a fi-
nancial newspaper published in New York, New York, and
WHEREAS, the said Notice of Sale has heretofore been given and
published in strict compliance with orders of this Board contained in the
said Resolution and in compliance with the Statutes of the Commonwealth of
Kentucky, thus enabling everyone interested in said Bonds to present a pro-
posal in connection therewith, and
15
WHEREAS, all bids have been received and duly considered, the
substance of said bids being as follows:
The Housing and Home Finance Agency, an instru-
mentality of the United States Government, whose office
is in Atlanta, Georgia, bid par plus accrued interest from
March 1, 1959, to the date of delivery, on all or any one
or more of the blocks of Bonds offered for sale, at a coupon
rate of two and seven-eighths (2-7/8%) per centum per
annum. This bid was made pursuant to a Loan Agreement
dated December 1, 1957, between the Board of Trustees of
the University of Kentucky and the Housing and Home Finance
Agency of the United States of America. Paragraph three
(3) of said agreement specifies as follows:
vlIn the event any other bidder or bidders offer to
purchase all of the Bonds, or any portion of the Bonds,
in blocks as specified at an interest cost of not more than
two and seven-eighths (2-7/8%) per centum per annum, the
Bonds or any such portion thereof shall be sold to such
bidder or bidders. "
The secretary reported to the Board that no other bids or proposals
were received for the purchase of these Bonds, or any blocks thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUS-
TEES OF THE UNIVERSITY OF KENTUCKY:
Section 1. That upon being advised in the premises, it is hereby
determined that the bid of the Housing and Home Finance Agency of the United
States of America, Atlanta, Georgia, for the purchase of the entire issue of
One Million Eight Hundred Thousand ($1, 800, 000. 00) Dollars of University
of Kentucky Housing Bonds of 1958, as advertised and authorized by the Reso-
lution heretofore adopted on the 7th day of April, 1959, upon terms of par
plus accrued interest from March 1, 1959 to the date of delivery, for Bonds
bearing interest rate at the coupon rate(s) of two and seven-eighths (2-7/8%)
per centum per annum, is the highest and best bid received, and that said
entire issue of said Bonds be, and they are hereby, awarded to said Housing
and Home Finance Agency of the United States of America, Atlanta, Georgia,
as being the best terms for the interests of the said Board of Trustees. The
coupon interest rate for the Bonds aforesaid is hereby fixed.
Section 2. That all resolutions, or parts thereof, in so far as
the same may be in conflict herewith, are hereby repealed.
Section 3. This Resolution shall be in full force and effect from
and after its adoption
16
Adopted by the Board of Trustees of the University of Kentucky
at a meeting held on the 16th day of June, 1959.
Chairman, Board of Trustees
University of Kentucky
Attest:
Sec retary
and moved that all rules be suspended and that said proposed Resolution be
adopted, which motion was seconded by Mrs. Paul G. Blazer, a member of
the Board; and said motion having been duly considered, the Chairman of
the Board of Trustees put the question, and upon roll being called, the fol-
lowing voted "Aye":
Mr. Robert P. Hobson, Vice Chairman
Mr. Ben Butler
Mrs. Paul G. Blazer
Mr. W. F. Foster
Dr. Paul B. Hall
Mr. Wood Hannah, Sr.
Dr. William C. Wilson
Mr. Floyd H. Wright
Mr. Robert H. Hillenmeyer
Hon. Albert B. Chandler, Governor of the
Commonwealth of Kentucky, and Chairman.
"Nay": None
WHEREUPON, the Chairman of the Board of Trustees declared
the motion duly carried and said Resolution adopted.
H. Injury to Mr. James Wilmore Kirkland.
Mr. Petersa reported an injury to Mr. James Wilmore Kirkland,
truck driver in the Division of Maintenance and Operations, and requested
permission to pay an invoice of $5. 00 for x-ray services.
Upon motion duly made, seconded and carried, a claim of $5. 00
was authorized paid, with the expressed understanding that the University does
not admit negligence or liability by the payment of this invoice,
17
I. Degrees of Law College Students Authorized.
President Dickey reported that there were six College of Law stu-
dents in the senior class who were not recommended for graduation in May
because of their academic record at the time when other seniors were recom-
mended for degrees. He stated that, during the examination sessions just
completed, these six men have made grades which qualify them for graduation.
He recommended that, upon recommendation of the University Faculty, the
following seniors be granted the LLB degree, and that the certificates be
authorized forwarded to the recipients in order that these students may be
permitted to take the Board of Bar Examiners examination beginning July 1.
The six students are: Walter Scott Collins, Edward Walker Eversole, Gentry
Elliott McCauley, Jr. , Don Burton Mills, Carroll Morris Redford, Jr. and
William Cameron Van Inwegen.
Upon motion duly made, seconded and carried, the following
students were authorized awarded the LLB degree and certificates were au-
thorized forwarded to each: Walter Scott Collins, Edward Walker Eversole,
Gentry Elliott McCauley, Jr. , Don Burton Mills, Carroll Morris Redford,
Jr. , and William Cameron Van Inwegen.
J. Dr. Loren Chapman Named to the Graduate Faculty.
President Dickey reported recommendation of Dr. Spivey, Dean
of the Graduate School, that Associate Professor Loren Chapman, Department
of Psychology, be appointed a member of the Graduate Faculty. Dr. Chap-
man, who has been directing doctoral study in Psychology at the University
of Chicago, and who has a distinguished record of research and publication
in Psychology, has recently been employed by the University and can reason-
ably be expected to contribute largely to the graduate program. He recom-
mended that the request be granted.
Upon motion duly made, seconded and carried, Dr. Loren Chap-
man was appointed a member of the Graduate Faculty.
K. Mrs. Susan Kidd Slaughter Given Change-of-Work Status.
President Dickey reported that Mrs. Susan Kidd Slaughter, ad-
ministrative assistant, College of Agriculture and Home Economics and Ex-
periment Station, was being recommended for change-of-work, effective
July 31, 1959. Mrs. Slaughter was born November 11, 1888, and has con-
tinuously served the University since November 9, 1914. Presenting forty-
four years and nine months of continuous service, she is entitled to 65% of her
salary at 65. President Dickey recommended that change-of-work be granted.
Upon motion duly made, seconded and carried, Mrs. Susan Kidd
Slaughter was given change-of-work, effective July 31, 1959, at an annual
salary of $3120. 00. Her assignment of duties is to assist with personnel
records and in the accounting section of the Experiment Station, as needed.
18
L. Change in Rank for Personnel on ICA Contract.
President Dickey made the following recommendations: that Dr.
Clarence J. Hull be given rank of Professor of Biochemistry; that Walter R.
Hunziker, Assistant Professor of Architecture, be changed to Associate
Professor; that Milo M. Wolff, Assistant Professor of Physics,be changed
to Associate Professor; and that Clifford R. Keizer, Professor of Chemistry
and Acting Chief of Party, be changed to Chief of Party. He recommended
that the above ranks be confirmed and approved.
Upon motion duly made, seconded and carried, the Board of
Trustees concurred in the recommendation of President Dickey, and the
above ranks were so ordered for persons on the ICA Indonesian Contract.
M. Report on Student Loan Fund and National Defense Education
Act Fund.