xt7x0k26bg7n https://nyx.uky.edu/dips/xt7x0k26bg7n/data/mets.xml Lexington, Kentucky University of Kentucky 1999026 minutes English University of Kentucky This digital resource may be freely searched and displayed.  Permission must be received for subsequent distribution in print or electronically.  Physical rights are retained by the owning repository.  Copyright is retained in accordance with U. S. copyright laws.  For information about permissions to reproduce or publish, contact the Special Collections Research Center. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1999-02-apr6. text Minutes of the University of Kentucky Board of Trustees, 1999-02-apr6. 1999 2011 true xt7x0k26bg7n section xt7x0k26bg7n 








                                        AGENDA

                             Meeting of the Board of Trustees
                                  University of Kentucky
                                         1:00 P.M.
                                         April 6, 1999

Invocation

Roll Call

Approval of Minutes

President's Report and Action Items

PR 1    President's Report to the Trustees
        A.   College of Medicine Report

PR 2    Personnel Actions

PR 3    Central Administration
        A.  University Research Professorships

PR 4    Community College System (No items to report)

PR 5    Lexington Campus
        A.   Appointments/Reappointments to University of Kentucky Business Partnership
                  Foundation
        B.   Reappointment to Advisory Board - Lexington Community College

PR 6    Medical Center (No items to report)

Finance Committee

1.    Acceptance of Interim Financial Report for the University of Kentucky for the Eight
             Months Ended February 28, 1999
 2.     Patent Assignment Report
 3.     Abercrombie Foundation Pledge
 4.     Albert G. and Lorraine N. Clay Endowment for Visiting Scholars
 5.     Ann Scott and Ralph E. Mason Gift
 6.     Anonymous Gift of $1,000,000
 7.     Anonymous Gift to Establish an Endowed Scholarship Fund
 8.    Brown & Williamson Tobacco Company Pledge
 9.     Dorothy Leathers Fellowship in History
 10.    Dr. Claire Louise Caudill Professorship in Family Medicine
 11.     Gerald L. and Jacqueline W. Nichols Gift and Pledge
 12.     Gordon L. Hyde, M.D. Professorship in General Surgery Research




 










1 SS~r  Historic Preservation Advisory Committee Gift and Pledge
14.     James F. Hardymon Pledge
15.     James R. and Elise W. Boyd Gift and Pledge
1 6.    Kenneth E. Hobgood Gift and Pledge
17.     Myra Leigh Tobin Charitable Remainder Unitrust
I 8.   Patricia J. Buster Annuity and Foundation Gift and Pledge
19.     Sue C. Badgett Gift
20.     T. Marshall Hahn, Jr. Pledge of $250,000
21.     Thomas C. and Evelyn W. Finnie Gift
22.     United States Surgical Corporation Gift and Pledge
23.     Warren W. Rosenthal Pledge




 








       Minutes of the Meeting of the Board of Trustees of the University of Kentucky, Tuesday,
April 6, 1999.

       The Board of Trustees of the University of Kentucky met at 1:00 p.m. (Lexington time)
on Tuesday, April 6, 1999 in the Board Room on the 18th floor of Patterson Office Tower.

       A.    Meeting Opened

       Governor Edward T. Breathitt, Chairperson, called the meeting to order at 1:09 p.m., and
the invocation was pronounced by Nathan Brown.

       B.    Roll Call

       The following members of the Board of Trustees answered the call of the roll: Mr. Ted
Bates, Governor Edward T. Breathitt (Chairperson), Mr. Nathan Brown, Mr. Paul W. Chellgren,
Mr. John "Jack" Guthrie, Mr. James F. Hardymon, Professor Loys L. Mather, Dr. Robert P.
Meriwether, Mr. Billy Joe Miles, Dr. Elissa Plattner, Mr. Steven S. Reed, Professor Daniel R.
Reedy, Dr. W. Grady Stumbo, Mr. Martin Welenken, Ms. JoEtta Y. Wickliffe, and Mr. Russell
Williams. Absent from the meeting were Mr. Merwin Grayson, Mr. C. Frank Shoop, Mrs.
Marian Sims, and Mr. Billy B. Wilcoxson. The University administration was represented by
President Charles T. Wethington, Jr.; Chancellor Elisabeth Zinser; Vice Presidents Fitzgerald
Bramwell, Joseph T. Burch, Ben W. Carr, Edward A. Carter, George DeBin and Eugene
Williams; Dr. Juanita Fleming, Special Assistant for Academic Affairs; and Mr. Richard E.
Plymale, General Counsel.

      Members of the various news media were also in attendance. A quorum being present,
the Chairperson declared the meeting officially open for the conduct of business at 1:12 p.m.

      C.    Approval of Minutes

      Governor Breathitt said that the Minutes of the Board meeting on March 2, 1999 had
been distributed and asked for any additions or corrections. Mr. Guthrie moved that the Minutes
be approved as distributed. Mr. Chellgren seconded the motion, and it carried.

      D.    President's Report to the Board of Trustees (PR 1)

      President Wethington called attention to the following items in PR 1:

      1. Governor Paul Patton, Lexington Mayor Pam Miller, several state and local officials,
          and University administrators participated in a groundbreaking ceremony March 25th
          for a new $1.2 million laboratory at Coldstream Research Campus. The Governor
          also presented a $5.5 million check to the University to develop the infrastructure for
          27 lots at Coldstream. The funds were part of the Governor's Surplus Expenditure
          Plan adopted by the 1998 Kentucky General Assembly.




 





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       2. The Lucille Parker Markey Cancer Center launched a new multi-disciplinary lung
          cancer program combining clinical care, research and education to fight the leading
          cancer killer in Kentucky. Researchers will be developing new lung cancer
          treatments, focusing on immunotherapy to enhance patients' immune systems.

       3. The College of Law has reached the top tier in the U.S. News & World Report ranking
          of the nation's law schools. The UK College of Law is ranked 50th among public and
          private law schools.

      4. The third edition of "America 's 100 Best College Buys - 2000" lists UK as one of 63
          public colleges and universities so honored. The book's entries were selected based
          on cost and academic quality. Criteria included grade point average of entering
          freshman and SAT and ACT scores.

       5. The Lexington Community College nursing graduates excel at Licensure
          Examination. Last year's class of graduates had a success rate of 95 percent on the
          exam. The national average is 88 percent. The percentage represents the proportion
          of graduates who passed the test on their first attempt.

      6. Phillip A. Sharp, Nobel Prize Laureate in 1993, received the UK Libraries Medallion
          for Intellectual Achievement. Dr. Sharp changed the field of molecular genetics
          when he discovered DNA molecules occurring in segments or "splicing," raising the
          possibility that cancer might be treated by correcting problems in genetic splicing.

      7. The first graduate of the College of Social Work, Jean Ritchie, has become the first
          member of the College of Social Work Alumni Hall of Fame. She received her
          degree in 1946.

      President Wethington asked the members to read the other items in the report at their
leisure.

      E.    Personnel Actions (PR 2)

      President Wethington recommended that approval be given to the appointments, actions
and/or other staff changes which require Board action; and that the report relative to
appointments and/or changes already approved by the administration be accepted. Mr. Reed
moved approval. The motion, seconded by Mr. Welenken, carried. (See PR 2 at the end of the
Minutes.)

      F.    University Research Professorships (PR 3A!

      President Wethington said that PR 3A recommends that the Board approve the naming of
Professors Peter Perry, Department of Mathematics, Daniel A. Potter, Department of
Entomology, and Steven Weisenburger, Department of English, as University Research
Professors for 1999-2000. In April 1976 the University Senate recommended to the President




 





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the establishment of one-year Research Professorships and that priority be given to the goal of
establishing permanent Research Professorships as funds became available.

       He stated that the purpose of the University Research Professorships is to enhance and
encourage scholarly research productivity at the University of Kentucky. It allows a faculty
member to concentrate almost solely on research during this period of time. President
Wethington said he was pleased to recommend the approval of PR 3A which will designate the
Research Professorships for 1999-2000. On motion made by Professor Reedy, seconded by
Professor Mather and carried, PR 3A was approved. (See PR 3A at the end of the Minutes.)

       President Wethington asked Professors Perry, Potter and Weisenburger to stand and be
recognized, following which they received a round of applause.

       G.    Appointments/Reappointments to University of Kentucky Business Partnership
Foundation (PR 5A)

      President Wethington stated that PR 5A recommends that approval be given to the
appointments of James J. O'Brien and Terry Woodward and the reappointments of Jack C.
Smith, Jr. and Martin Welenken as members to the Board of Directors of the University of
Kentucky Business Partnership Foundation for four-year terms beginning immediately and
extending through the Fall 2002 Board meeting. He reported that these individuals were
unanimously elected to the Board of Directors of the University of Kentucky Business
Partnership Foundation at their November 18, 1998 meeting. Mrs. Wickliffe moved approval.
Her motion, seconded by Mr. Guthrie, passed. (See PR 5A at the end of the Minutes.)

      H.    Reappointment to Advisory Board - Lexington Community College (PR 5B)

      President Wethington stated that PR 5B recommends that William H. Wilson be
reappointed to the Advisory Board of Lexington Community College for a three-year term
beginning July 1, 1999 and ending June 30, 2002. Mr. Wilson is a staff member with Kentucky
Educational Television and the head of the Prichard Committee on Education. Mr. Brown
moved approval. Mr. Chellgren seconded the motion, and it carried. (See PR 5B at the end of
the Minutes.)

      I.    College of Medicine Report

      President Wethington said he was pleased to have Dr. Emery Wilson, Dean of the
College of Medicine and Vice Chancellor for Clinical Services, make a report on the College.
He briefly reviewed Dr. Wilson's credentials, noting he had been Dean of the College of
Medicine for eleven years. He reported that the College of Medicine has become nationally
recognized by being named one of the top 20 comprehensive medical schools in the United
States for seven consecutive years by US News and World Report.

      Dean Wilson said that Kentucky has a wonderful medical heritage, and the University of
Kentucky College of Medicine is continuing that tradition. The College has 680 full-time and
part-time faculty focusing their efforts in 21 departments and 8 multi-disciplinary centers. In




 






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addition, there are 825 voluntary faculty throughout the state supporting the college's education
mission. There are 2,670 undergraduate students, medical students and residents and 1,980 non-
faculty staff members.

       He stated that the College continues to improve in research and has doubled its National
Institutes of Health (NIH) funding as well as its total research funding over the last five years.
With $52M annually in research grants and contracts, the College is ranked 30th in NIH funding
among public medical schools. For every 3,100 net square feet of research space, the College
generates $lM.

       He reported that each year the physicians treat approximately 32,000 inpatients, 450,000
outpatients and provide more than 900 outreach clinics in central and eastern Kentucky. The
College receives 15.7% of its revenues from state funds and in FY 99 leveraged that into a
$213M budget.

       Dean Wilson distributed material about the College and entertained questions from
members of the Board, following which he received a round of applause for his presentation.

       President Wethington thanked Dean Wilson for his presentation and for his good work in
the College of Medicine.

       Governor Breathitt thanked Dean Wilson, Frank Butler and Chancellor Holsinger for the
things they have done through the years to keep the Chandler Medical Center financially sound.

       J.    Acceptance of Interim Financial Report for the University of Kentucky for the
Eight Months Ended February 28. 1999 (FCR 1)

       Mr. Hardymon, Chairperson of the Finance Committee, reported that the Finance
Committee met and considered 23 items on the agenda. He said that FCR 1 is the acceptance of
the Interim Financial Report for the Eight Months Ending February 28, 1999. He noted that the
revenues are running ahead of the expenditures at this time of year but are in line with previous
years' percentages. He commented on the positive cash flow and said that it leads to a very
positive and strong balance sheet. He said that there are some fluctuations, and those were
discussed in the Finance Committee meeting. He moved approval of FCR 1. Mr. Chellgren
seconded his motion, and it passed. (See FCR 1 at the end of the Minutes.)

       K.    Patent Assignment Report (FCR 2)

       Mr. Hardymon said that FCR 2 recommends that the patent assignment report for the
period January 1, 1999 through March 31, 1999 be accepted. He reported that there were six
patents in the quarterly report and reviewed each assignment. He moved approval of FCR 2.
His motion, seconded by Dr. Meriwether, carried. (See FCR 2 at the end of the Minutes.)




 








       L.    Abercrombie Foundation Pledge (FCR 3)

       Mr. Hardymon said that FCR 3 recommends that the Board of Trustees accept a $500,000
pledge from the Abercrombie Foundation of Versailles, Kentucky, to establish the Pin Oak Stud
Endowed Research Fund in the College of Agriculture's Gluck Equine Research Center in the
Department of Veterinary Science.

       He said that the pledge is contingent on the University's receiving matching funds from
the state's Research Challenge Trust Fund (RCTF), which would create a $1,000,000 fund to
enhance innovative research at the Gluck Center. The foundation's pledge will be paid in five
equal annual installments beginning this year. He moved approval of FCR 3. His motion,
seconded by Mr. Welenken, passed. (See FCR 3 at the end of the Minutes.)

      M.    Albert G. and Lorraine N. Clay Endowment for Visiting Scholars (FCR 4)

      Mr. Hardymon said that FCR 4 recommends that the Board of Trustees establish and
endow the Albert G. and Lorraine N. Clay Endowment for Visiting Scholars in the College of
Agriculture's Department of Veterinary Science with $250,000 in earnings from the Albert G.
and Lorraine N. Clay Charitable Annuity Lead Trust.

      He reported that Albert G. and Lorraine N. Clay established a Charitable Annuity Lead
Trust in 1996 to provide support for the Department of Veterinary Science, and this is a Trust
whereby the University receives the income from the Trust. The Clays have been long-time
supporters of the University. Mr. Clay was a member of the UK Board of Trustees for more than
20 years and recently served as chair of the UK Equine Research Foundation Board for 10 years.

      He said that the Clays have specified that five years of income from the trust be endowed
to allow the original directives of the trust to be carried out in perpetuity. The designation of
$250,000 for an endowment is contingent on the University's receiving matching funds from the
state's Research Challenge Trust Fund, which would create a $500,000 endowment. On motion
made by Mr. Hardymon, seconded by Mr. Guthrie and passed, FCR 4 was approved. (See FCR
4 at the end of the Minutes.)

      N.    Ann Scott and Ralph E. Mason Gift (FCR 5)

      Mr. Hardymon said that FCR 5 recommends that the Board of Trustees accept a gift of
$50,000 from Ann Scott and Ralph E. Mason of Maysville, Kentucky, to establish and endow the
Ann Scott and Ralph E. Mason Visiting Scholars Program in Voice Performance in the College
of Fine Arts' School of Music.

      He said that Mrs. Mason is a 1944 graduate of the UK School of Music. After a
successful singing and teaching career, she and her husband returned to their native Maysville
and have been generous supporters of the School of Music. The Visiting Scholars Program will
fund the visit of vocal artists and master teachers for recitals, master classes and other events
related to the School of Music's graduate and research missions. The gift is contingent on
matching funds being received from the state's Research Challenge Trust Fund. He moved




 






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approval of FCR 5. Mr. Brown seconded the motion, and it carried. (See FCR 5 at the end of
the Minutes.)

       0.    Anonymous Gift of $1,000,000 (FCR 6)

       Mr. Hardymon said that FCR 6 recommends that the Board of Trustees accept an
anonymous gift of $1,000,000 for the Sigma Alpha Epsilon House Construction Fund.

       He reported that the University of Kentucky alumni members of the Sigma Alpha Epsilon
social fraternity have been raising funds for a new fraternity house since 1995. Nearly 500
SAE's have contributed to the project. The house is located on Rose Lane and is scheduled for
completion this fall. He said that he had visited the house recently and encouraged members of
the Board to see it. He moved approval of FCR 6. Mr. Welenken seconded the motion, and it
passed. (See FCR 6 at the end of the Minutes.)

      P.    Anonymous Gift to Establish an Endowed Scholarship Fund (FCR 7)

      Mr. Hardymon said that FCR 7 is an anonymous gift. The recommendation is that the
Board of Trustees accept a gift of $125,000 to establish and endow a scholarship fund to benefit
undergraduate and/or graduate students at either the University of Kentucky or a community
college.

      He stated that the donor established the fund to provide financial assistance for qualified
students to benefit from a college education. The purpose was to enable students to receive an
education that might otherwise be denied them because of financial resources. Additional
contributions to the fund will be made by the donor annually and by the donor's estate. On
motion made by Mr. Hardymon, seconded by Mr. Reed and carried, FCR 7 was approved. (See
FCR 7 at the end of the Minutes.)

      Q.    Brown & Williamson Tobacco Company Pledge (FCR 8)

      Mr. Hardymon said that FCR 8 recommends that the Board of Trustees accept a pledge of
$250,000 from the Brown & Williamson Tobacco Company of Louisville, Kentucky, to establish
and endow the Brown & Williamson Research Support Fund in the College of Agriculture's
Department of Agronomy.

      He said that the Research Support Fund will provide funds for the purchase of supplies,
equipment and other materials required in agronomy research. The pledge will be paid with
$50,000 annual payments beginning in 1999. A condition of the pledge is that it be matched by
the state's Research Challenge Trust Fund. He moved approval of FCR 8. His motion, seconded
by Mr. Brown, passed. (See FCR 8 at the end of the Minutes.)




 





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       R.    Dorothy Leathers Fellowship in History (FCR 9)


       Mr. Hardymon said that Ms. Dorothy Leathers is retiring after 37 years as a staff member
in the Department of History. FCR 9 recommends that the Board of Trustees accept a gift of
$25,000 from the Department of History faculty and friends of Dorothy Leathers of Lexington,
Kentucky, to establish and endow the Dorothy Leathers Graduate Fellowship Fund in the
Department of History in the College of Arts and Sciences.

       He said that faculty members, history graduates and friends of Ms. Leathers have
contributed $25,000 to honor her for her years of service. The fellowship will be awarded to
graduate students in history who have passed the doctoral qualifying examination. The
Department of History faculty and friends have requested that the $25,000 endowment be
matched by the state's Research Challenge Trust Fund. He moved approval of FCR 9. Professor
Mather seconded the motion, and it carried. (See FCR 9 at the end of the Minutes.)

       S.    Dr. Claire Louise Caudill Professorship in Family Medicine (FCR 10)

       Mr. Hardymon said that FCR 10 recommends that the Board of Trustees accept a pledge
of $75,000 from the W. Paul and Lucille Caudill Little Foundation of Lexington, Kentucky, to
establish and endow the Dr. Claire Louise Caudill Professorship in Family Medicine in the
College of Medicine. He noted that Dr. Caudill died recently.

      He reported that the pledge will be paid in five annual payments of $15,000 beginning in
1999. The Foundation has requested that the gift for the professorship be matched by the state's
Research Challenge Trust Fund. He moved approval of FCR 10. His motion, seconded by Mr.
Chellgren, passed. (See FCR 10 at the end of the Minutes.)

      T.    Gerald L. and Jacqueline W. Nichols Gift and Pledge (FCR I 1)

      Mr. Harydmon said that Mr. Gerald L. Nichols is a 1958 graduate in civil engineering.
His career has been centered in the railroad industry, having recently retired as vice-chairman of
CSX Transportation. Mr. Nichols was inducted into the College's Hall of Distinction and
received Civil Engineering's Career Achievement Award in 1996.

      He said that FCR 11 recommends that the Board of Trustees accept a gift of $41,719 and
pledge of $83,281 totaling $125,000 from Gerald L. and Jacqueline W. Nichols of Jacksonville,
Florida, to establish and endow the Gerald L. Nichols Graduate Fellowships in Civil Engineering
in the College of Engineering.

      He stated that the pledge will be paid before December 2003, and Mr. Nichols anticipates
his gift being matched by the state's Research Challenge Trust Fund. On motion made by Mr.
Hardymon, seconded by Mr. Reed and passed, FCR 11 was approved. (See FCR 11 at the end of
the Minutes.)




 





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      U.    Gordon L. Hyde. M.D. Professorship in General Surgery Research
(FCR 12)

      Mr. Hardymon said that FCR 12 is asking the Board of Trustees to accept a pledge of
$40,000 from Gordon L. Hyde, M.D. of Lexington, Kentucky, and a gift of $11,000 from Dr.
Hyde's colleagues and friends to create and endow the Gordon L. Hyde, M.D. Professorship in
General Surgery in the College of Medicine. The Board is also requested to approve the transfer
of $31,830 in an existing lectureship named in Dr. Hyde's honor to the endowed professorship.

      He said that a group of University of Kentucky alumni, friends and former residents who
trained under Dr. Hyde made this $11,000 contribution for the professorship. A condition of the
gifts and of Dr. Hyde's pledge is that the funds be matched by the state's Research Challenge
Trust Fund. The $31,830, however, will not be matched. He noted that the pledge will be paid
over a five-year period beginning in 1999 and moved approval of FCR 12. Mr. Williams
seconded the motion, and it carried. (See FCR 12 at the end of the Minutes.)

      V.    Historic Preservation Advisory Committee Gift and Pledge (FCR 13)

      Mr. Hardymon reminded the Board of the relatively new graduate program called the
Master of Historic Preservation. The College of Architecture Historic Preservation Advisory
Committee is a 25-member body created in 1998 to assist the college in building this program.
FCR 13 recommends that the Board of Trustees accept gifts of $24,100 and pledges of $226,400
from 18 members of the College of Architecture Historic Preservation Advisory Committee to
establish and endow professorships and to provide graduate education support for the College of
Architecture. The advisory committee and the dean will later recommend the number of
professorships to be endowed and the amounts to go into an endowment to support graduate
education and research.

      Mr. Hardymon pointed out that there were three major donors: Mrs. Edith Bingham of
Louisville, Kentucky, has committed $ 100,000; James P. Gray, Jr. of Lexington, Kentucky, has
committed $50,000; Linda and Jerry Bruckheimer of Bloomfield, Kentucky, and Los Angeles,
California, have committed $50,000. Fifteen other donors have pledged between $500 and
$5,000. The total of all gifts and pledges is $250,500. Pledges will be paid within five years. A
condition of the gifts is that the $250,500 be matched by the state's Research Challenge Trust
Fund. He moved approval of FCR 13. His motion, seconded by Professor Reedy passed. (See
FCR 13 at the end of the Minutes.)

      Governor Breathitt said that this is another example of outreach from a college. The
College of Architecture and its Dean have been working with Louisville officials in establishing
a downtown center like the one in downtown Lexington. He congratulated President
Wethington, Chancellor Zinser, and Dean Mohney for a new example of what the University is
doing to serve its statewide mission.




 





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       W.    James F. Hardymon Pledge (FCR 14)

       On motion made by Mr. Hardymon, seconded by Dr. Meriwether and carried, the Board
approved the recommendation that a pledge and a deferred gift of $2,000,000 (a $1,500,000
pledge and a $500,000 deferred gift) from James F. Hardymon of Lexington, Kentucky, to
establish two endowed chairs to be known as the James F. Hardymon Chair in Manufacturing
Systems in the Department of Mechanical Engineering and the James F. Hardymon Chair in
Networking in the Department of Electrical Engineering or Computer Science and to establish an
endowed graduate fellowship program to be known as the James F. Hardymon Graduate
Fellowship Program in the University's Bachelor of Science in Engineering and Master of
Business Administration five-year dual degree program be accepted. (See FCR 14 at the end of
the Minutes.)

       Governor Breathitt thanked Mr. Hardymon for his major gift and his commitment to the
University and the Board. He expressed appreciation to Mr. and Mrs. Hardymon for their many
anonymous gifts to the University.

      President Wethington also expressed his appreciation to Mr. and Mrs. Harydmon for their
contribution but particularly for their leadership. This gift signifies what the capital campaign is
about and is a challenge to other Board members and to the alumni to help insure the future of
the University of Kentucky through the capital campaign. He reminded the Board that the
University is involved in a five-year campaign to raise major amounts of money for the people
resources of the university: for endowed chairs, professorships, and scholarships. He reiterated
his appreciation to Mr. Hardymon for the amount of the gift and for what the gift signifies. This
truly is a strong commitment to the University from two alumni of the institution who believe
that the University did some wonderful things for them and are willing to give back to the
University to help insure the future for other men and women who will be coming to the
University in the years ahead. He thanked Mr. Hardymon for his fantastic gift to the University
of Kentucky at a very important time. Mr. Harydmon received a round of applause.

      Mr. Hardymon thanked everyone for their fine comments.

      X.    James R. and Elise W. Boyd Gift and Pledge (FCR 15)

      Mr. Hardymon said that FCR 15 is asking the Board of Trustees to accept a gift of
$75,000 and a pledge of $25,000 from James R. and Elise W. Boyd of Lexington, Kentucky, to
establish and endow the James R. Boyd Professorship in Electrical Engineering in the College of
Engineering's Department of Electrical Engineering.

      He said that Mr. and Mrs. Boyd are long-time supporters of the College of Engineering.
Mr. Boyd is a 1969 graduate in electrical engineering. He is presently Senior Vice President and
Group Operating Officer at Ashland Inc. and Chairman of Arch Coal, an Ashland subsidiary.
Mr. Boyd serves on the University of Kentucky Development Council, the College of
Engineering Dean's Advisory Council and the college's campaign steering committee. The
endowed professorship will help advance the graduate program and research in electrical
engineering, and it will expand opportunities for undergraduate research and for industry access




 





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to contemporary developments in the field. The gift is contingent on the University's receiving
matching funds from the state's Research Challenge Trust Fund. The pledge of $25,000 will be
paid within three years. He moved approval of FCR 15. Mr. Chellgren seconded the motion,
and it passed. (See FCR 15 at the end of the Minutes.)

      Y.    Kenneth E. Hobgood Gift and Pledge (FCR 16)

      Mr. Hardymon said that FCR 16 recommends that the Board of Trustees accept a gift of
$ 10,000 and pledge of $75,000 from Kenneth E. Hobgood of Raleigh, North Carolina, to
establish and endow the Sue Fan Gooding Hobgood Visiting Design Critic Fund in the College
of Architecture.

      He said that Kenneth E. Hobgood is a 1977 alumnus of the UK College of Architecture.
In 1996, he established and endowed a visiting professorship fund in the College of Architecture
in memory of his mother, Sue Fan Gooding Hobgood, a UK alumna. This gift will create and
endow the Sue Fan Gooding Hobgood Visiting Design Critic Fund to bring famous architects
and designers to UK to advance design education and research in the College. A condition of the
gift is that it be matched by the state's Research Challenge Trust Fund. The pledge will be
fulfilled with payments over the next four years. He moved approval of FCR 16. His motion,
seconded by Mr. Reed, carried. (See FCR 16 at the end of the Minutes.)

      Z.    Myra Leigh Tobin Charitable Remainder Unitrust (FCR 17)

      Mr. Hardymon said that he was very pleased to recommend that the Board of Trustees
accept the Myra Leigh Tobin Charitable Remainder Unitrust, an irrevocable Trust between Myra
Leigh Tobin of New York, New York, and the University of Kentucky.

      He stated that Ms. Tobin did well in her career with Marsh and McLennan Companies,
Inc., an insurance brokerage. She was Managing Director of Marsh and McLennan Companies,
Inc when she retired last summer. She is a 1962 UK graduate and past president of the
University of Kentucky National Alumni Association. He said that she is giving $1 million to
establish a charitable unitrust and moved approval of FCR 17. Ms. Wickliffe seconded the
motion, and it passed. (See FCR 17 at the end of the Minutes.)

      AA.   Patricia J. Buster Annuity and Foundation Gift and Pledge (FCR 18)

      Mr. Harydmon said that FCR 18 recommends that the Board of Trustees accept the
residue of a gift annuity valued at $152,392.54 and anticipated income of $250,000 over five
years from a charitable foundation, both established by the late Patricia J. Buster to create and
endow a professorship and graduate research grants in the College of Human Environmental
Sciences (CHES).

      He said that Mrs. Buster, a native Kentuckian who died in Venice, Florida, in 1998, was a
1934 UK graduate in home economics and a generous supporter of the CHES. Her career
included positions with Kentucky Utilities Company and General Electric Company.
Distributions of income from the Patricia J. Buster Charitable Foundation are expected to total




 





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$50,000 annually. The College and the foundation trustee anticipate $250,000 of the income
from the foundation from 1999 through 2003 being matched by the RCTF. The foundation
income and the matching RCTF monies will create a $500,000 Patricia J. Buster Endowment.
He moved approval of FCR 18. The motion, seconded by Mr. Williams, carried. (See FCR 18
at the end of the Minutes.)

      BB.   Sue C. Badgett Gift (FCR 19)

      Mr. Hardymon said that FCR 19 is asking the Board of Trustees to accept a gift of
$100,394 from Sue C. Badgett of Madisonville, Kentucky, to establish and endow the Sue
Badgett Endowment to benefit the Center for Academic and Tutorial Services (CATS) in the
University of Kentucky Athletic Association.

      Mrs. Badgett is a businesswoman and long-time supporter of UK athletics. Her gift will
enhance academic programming and services available to s