xt718911p070 https://exploreuk.uky.edu/dips/xt718911p070/data/mets.xml Lexington, Kentucky University of Kentucky 19560722 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, 1956-07-jun22. text Minutes of the University of Kentucky Board of Trustees, 1956-07-jun22. 1956 2011 true xt718911p070 section xt718911p070 









       Minutes of the Meeting of the Board of Trustees of the University of
Kentucky, June 22, 1956.


       The Board of Trustees of the University of Kentucky met in the Presi-
dent' s Office at 10:00 a.m. Central Daylight Time (9:00 a. m. Central Standard
Time), pursuant to recess of the meeting of May 28, for the purpose of consid-
eration of the budget of the University, report of the Screening Committee,
and other business requiring the Board, s attention.  The following members
were present: Governor A. B. Chandler, Chairman; Dr. Daniel C. Elkin,
Dr. Harry Denham, Carl Dempewolfe, Dr. Ralph J. Angelucci, Mrs. Paul G.
Blazer, R. P. Hobson, Robert C. Stilz, Louis Cox, Robert R. Martin, Ben
Butler, J. Stephen Watkins, Harper Gatton, Wood Hannah, Sr. and W. F.
Foster.  Absent: none. President H. L. Donovan and Secretary Frank D.
Peterson were also present.



       A. Meeting Called to Order.

       The Chairman called the meeting to order and asked Mr. Harper Gatton
to lead in prayer.


       B. Mr. Foster Took the Oath of Office.

       Mr. W. F. Foster had been an appointed member of the Board of Trustees
for some three months but had been unable to attend the meeting of the Board
on May 28. He took the oath of office. Governor Chandler introduced him to
other members of the Board and welcomed him as a member of the Board.


       C. Report of the Screening Committee.

       Mr. Robert P. Hobson, Chairman of the Screening Committee, asked to
make a report to the Board of Trustees on behalf of the Committee. The Chair-
man of the Board requested President Donovan and the Secretary to leave the
room and permit the Board to go into executive session.

      On completion of the report of the Chairman of the Screening Committee,
the Chairman recalled President Donovan and the Secretary and made the fol-
lowing statement which was confirmed by the Board of Trustees.  The Chair-
man, on behalf of the Committee, submitted the following letter:




 






2



                                           June 15, 1956


Governor A. B. Chandler
F rankfo rt
Kentucky

Dear Governor Chandler:

     On April 3, 1956, President H, L. Donovan notified the
Board of Trustees of his desire to accept a change of-status
and relinquish his duties as President of the University.

     The Chairman, by authority of the Board of Trustees. ap-
pointed a Screening Committee, constituted of three members of
the Board and three elected members of the University personnel,
representing the teaching, research, extension and administrative
staff, to screen persons recommended for president of the Uni-
versity of Kentucky.

     The Committee has diligently pursued this assigned task.
It has accepted suggestions from people in. and out of the state.
It has considered fifty -six suggested individuals. The Commit-
tee has reduced this list to a total of four persons whom we are
glad to recommend to you as meeting the qualifications, we think,
of a president of the University of Kentucky,

     Each of the fifty-six persons screened by the Committee has
been dealt with individually. Various sources of information have
been utilized such as WhoV s Who in America, American Men of
Science, Who I s Who in _Aerican Education, WEho' s Wh' o in Ken-
tucky_ and conTerences in person and by teiephone.

     The Committee has enjoyed the finest relationship with. one
another and the recommendations herein contained have been
reached only after earnes t, frank and open de libe rations.

     We therefore unanimously recommend for your considera-
tion any one of the following persons, listed alphabetically, for
president of the University of Kentucky, effective September 1,
1956:

                       Dr. Frank Graves Dickey, Dean
                       College of Education
                       University of Kentucky

                       Dr. Louis Arthur Pardue
                       Vice President and Director of
                                  Graduate Studies
                       Virginia Polytechniic Ins tit ute
                       Blacksburg, Virginia




 




3



                         Dean Elvis Jacob Stahr, Jr.
                         College of Law, and Provost
                         University of Kentucky

                         Dr. Frank James Welch, Dean
                         College of Agriculture & Home Economics
                           and Director, Experiment Station and
                           Agricultural Extension
                         University of Kentucky

           We attach hereto for your information and study personal
      data concerning each individual recommended.

                                    Respectfully submit:ted,

                                    Robert P. Hobson, Chairman
                                    Harper Gattton
                                    Dr. Ralph Angelucci
                                    John Kuiper
                                    R. E. Shaver
                                    Dr. H. B. Price

                                    By Frank D. Peterson (Signed)
                                          Frank D. Peterson, Secretary
                                          Screening Committee




     Biographical sketch of each of the persons recommended by the Screen-
ing Committee was submitted by letter mailed June 15 to each member of the
Board of Trustees,  The Chairman of the Screening Committee again referred
to the personal information concerning each candidate recommended for
presidency of the University.  The Chairman of the Board reported that, after
complete and thorough discussion of the report of the Screening Committee, a
test secret ballot was taken. and all candidates rated by each member of the
Board of Trustees as his choice of 1, 2, 3,A, after which, upon motion duly
made, seconded and unanimously carried, Dr. Frank Graves Dickey, Dean
of the College of Education, University of Kentucky, Lexington, Kentucky,
was elected president of the University of Kentucky, with the understanding
and ruling that he and his family shall live in Maxwell Place on the campus of
the University.

     The Chairman asked the Secretary to get in touch with Doctor Dickey and
ask him to come to the meeting of the Board of Trustees,



     D. Salary of the President,

     Members of the Board discussed salary of the new President,  Suggestions
ranged from $16,O000 to $21,000,  It was recalled that a dean for the College of
Medicine would, in all probability, be paid $20, 000 annually.  Members of the
Board seemed unwilling to pay the president less than the dean of the Medical
School.




 




4



      Upon motion duly made, seconded and unanimously carried, the salary
of the President-elect Frank Graves Dickey was fixed at $21 000 annually.



      E. Dean DiyMeets the Board.

      The Board was notified that Dean Dickey was available. He was asked
to come before the Board. He was introduced to each member of the Board
and informed of the action of the Board. Doctor Dickey expressed his deep
appreciation of the high honor and said he would humbly accept. He was
invited to remain with the Board during its further deliberations. He accept-
ed. Mrs. Dickey was contacted and asked to have luncheon with the Board.
Mrs. Donovan was asked to join the Board and others for lancheon. Mrs.
Dickey and Mrs. Donovan accepted.



     F. The Screening Committee Commended.

     Upon motion duly made, seconded and carried, the following resolution
was adopted:



     RESOLUTION:     THAT those members of the Board of Trustees
     and the representatives of the University faculty who served so
     ably as a screening committee in the selection of our new Presi-
     dent be thanked for the great: amount of time they gave to the task
     of considering the qualifications of fifty-six different individuals
     from throughout the United States; and that thev be commended
     on the excellent list of educators whose names were submitted to
     the Board of Trustees for consideration for the presidency of the
     University of Kentucky.




     G. Approval of Minutes

     Upon motion duly made, seconded and carried, the minutes of the meet-
ing of the Board of Trustees of May 28, 1956, were approved as published.



     H.     _st ofTriDelaRealty Company

     Mr. Peterson explained the request of Tri Delta Realty Company by
reading the following statement:




 










June 20, 1956



The Board of Trustees
University of Kentucky
Lexington, Kentucky

Dear Sirs:

The Tri Delta Realty Company, a non-profit corporation which
owns and operates the building at 468 Rose Street, which is oc-
cupied by the Delta Delta Delta sorority, has been attempting to
build an addition to the existing building.

The plans have been drawn by Frankel and Curtis and have been
approved by both the sorority and the University.

This addition consists of a new kitchen, serving pantry, dining
room, seven bedrooms, two baths and a basement. work room,
as well as some remodeling of the existing building.  The addi-
tion is necessary in order to take care of the present member-
ship of the sorority since the original house was built to accommo-
date only twenty-four girls.

We have taken bids and the bid of contractors Fain and Johnston
was low at $79,479,  This bid is good until July 15, 1956.

The present property has a mortgage of $10,088 on it, which
makes a loan of approximately $90, 000 necessary.

Since we have been unable to finance this project, we would like
to offer the completed building to the University of Kentucky for
the amount that is needed to complete it, with the idea that the
University would take title to the property and would sell the
necessary bonds which we could pay back on a long term loan.
We would be willing to enter into the same type of contract as
exists between the University and the other sororities.

                                           Sincerely yours,

                                           THE TRI DELTA REALTY
                                                COMPANY

                           (Signed)        Mrs. Robert Gillig
                                                      . esdent


                                              Vice Presient


                                              Secretary

                               ii          Mrs. Slyle Mo          _
                                              Treasurer
(Signed) Mrs. D. B. Harding




 





6



      Mr. Peterson stated that he and President Donovan had discussed the
request and recommended that same he approved and the details worked out.

      Upon motion duly made, seconded and carried, President Donovan
and Vice President Peterson were authorized to proceed.



     I. Bonds and Interest Coupons to be Destroyed.

     Vice President Peterson submitted a list of bonds and interest coupons
which have been paid on various revenue bond issues. He stated that the
redeemed bonds and the paid coupons on the issues listed had been paid over
a period of years.  They had been checked and found accurate.  Vice Presi-
dent Peterson requested permission to list the redeemed bonds by date and
number, and the paid coupons by date and number of issue in the minutes, He
further requested permission to burn the bonds and coupons in the presence
of a witness and report to this Board.

     Upon motion. duly made, seconded and carried, the request was granted,
and the list of bonds and coupons was authorized inserted in the minutes, and
same were ordered destroyed in the presence of two witnesses.



MATURITY DATE



PRINCIPAL BONDS



INTEREST COUPONS
No. on Bonds (Inclu-
    sive)



UNIVERSITY BUILDING REVENUE REFUNDiNG BOND - July 1, 1946



Jan, 1, 1953
June 30, 1953
Jan, 1,19 54
June 30, 1954
Jan. 1, 1955
June 30, 1955



1 72-202

203-233

234 -265



15   172-507
16   172-507
17   203-507
18   203 -507
19   234-507
20   234-507



Note: Bonds and Coupons of prior maturities were ordered destroyed at
     meeting of Executive Committee, July 18, 1952.



UNIVERSITY BUILDING REVENUE BOND - Sepember 1, 1938

   Second P.W.A.



Sept. 1, 1948
March 1, 1949



Sept. 1, 1949
March 1, 1950
Sept. 1, 1950
March 1, 1951



73 -76
7 7 -8 0
81--85
86-90



*20   214
* 21   106 -110, 116, 149- 153
      214, 267-274, 289-Z90
 22   73 -316
 23   77 -316
 24   8 1-316
 25   86-316




 









Sept. 1, 1951
March 1, 1952
Sept. 19 1952
March 1, 1953
Sept. 1, 1953
March 1, 1954
Sept. 1, 1954
March 1, 1955



9 1 -9 5
9 6-100
101-105
106 -110
I 11-1 15
1 16 - 120
121-125
126-130



26   9 1-3 16
27   96.316
28   101-316
29   106-3 16
30   111-316
31   116-316
32   121-316
33   126 148, 154-265,
     275-288, 29 1 -3 16



*Coupons reported outstanding at Executive Committee meeting of July 18. 1952.
Bonds and coupons of prior maturities ordered destroyed at that meeting.



AUDITORIUM -FIELD



February
August 1,
February
August 1,
February
August 1,
February
August 1,
February
August 1,
February
August 1,
Februa ry
August 1,



1, 1949
1949
1, 1950
1950
1, 1951
1951
1, 1952
1952
1, 1953
1953
1, 1954
1954
1, 1955
1955



HOUSE REVENUE BONDS - August 1, 1948



1 -40

41-80

8 1-120

121 -160

161--200

201-240



I
2
3
4
5
6
7
8
9
10
I11
12
13
14



1 -800
1 -800
1 -825
1 -629, 631 -825
41-474,477-825
4 1-825
81-825
8 1 -825
121-825
121-825
1 61-825
161-825
201 -825
201-246, 248-418,
421-603,606-635,
637-715, 717-825



JOURNALISM BUILDING REVENUE BONDS - January 1, 1950



July 1, 1950
January 1, 1951
July 1, 1951
January 19 1952
July 1, 1952
January 1, 1953
July 1, 1953
January 1, 1954
July 1, 1954
January 1, 1955
July 1, 1955



12-22

23-33

34-44

45-55



1   1-225
2   1-225
3   12-225
4   12-225
5   23-225
6   23-225
7   34-154,165-225
8   34-154, 165 -225
9   45-154, 165-225
10   45-154, 165-2 25
11   56-154, 165-225




 





0



LIBRARY AND SERVICE BUILDING REVENUE BONDS - April 1, 1949



October 1, 1949
April 1, 1950
Oc tober 1, 1950
April 1,. 1951
October 1, 1951
April 1, 1952
October 1, 1952
April 1, 1953
October 1, 1953
April 1, 1954
October 1, 1954
April 1, 1955



1 -25

26 -50

51 -75



76 -100

101 -125



October 1, 1955



1
2
3
4
5
6
7
8
9
10



1-490
1 -242,248 -490
1 -242,248-490
1 -242,248-490
26-242, 248-490
206-24Z,248490
51-242,248-490
51  242,248-490
76 -242,248-490
76-242,248-490



11   101-242,248 -49 0
12    101-140, 146-160,
      166 -216, 219 -220,
      Z27-240, 248-275
      281 292, 295-490
13    126 -1.77,183-214,
      216, 219-220, 222-
      240,248--263,267.-
      275,286-292,
      295-307,313 -.490



STADIUM ADDITION REVENUE BOND ISSUE - April 1, 1949



October 1, 1951
April 1, 1952
Oc tober 1, 1952
April 1, 1953
Qctober 1, 1953
April 1, 1954
October 1, 1954
April 1, 1955



31 -45

46 -60

61-75

76-90



5
6
7
8
9
10
1 1-
12



October 1, 1955



31-300
31 -300
46-300
46-300
61-300
61-300
76 -300
76-170,176-185,
191-200, 206-295,
297- 300



13    91-100,106-116,
      118-160, 164 -170,
      176-185, 191-200,
      206-300



Note-Executive tCommittee on July 18, 1952 authorized destruction of Bonds and
Coupons of prior maturities.


DORMITORY REVENUE BOND ISSUE - June 1, 1946



December 1, 1946
June 1, 1947
December 1, 1947
June 1, 1948
December 1, 1948
June 1, 1949
December 1, 1949



I -11



1    1-430
2    1-430
3    1-430
4    1-360,362-430
5    1-430
6    1-430
7-   12-430




 




9



DORMITORY REVENUE BOND ISSUE - June 1, 1946 (Continued)



June 1, 1950
December 1, 1950
June 1, 1951
December 1, 1951
June 1, 1952
December 1, 1952
June 1, 1953
December 1, 1953
June 1, 1954
December 1, 1954
June 1, 1955



12-23

24 -35

36-47

48-60

6 1-73

74 -87



DORMITORY REVENUE BOND - 456 Rose Street

April 1, 1951
Oc tober 1, 1951               1-4
April 1, 1952
October 1, 1952                5 -9
April 1, 1953
October 1, 1953                10-14
April 1, 1954
October 1, 1954                15-19
April 1, 1955


DORMITORY REVENUE BOND - 476 Rose Street

June 1, 1951
December 1, 1951               1-2
June 1, 1952
December 1, 1952               3 -4
June 1, 1953
December 1, 1953               5 -6
June 1, 1954
December 1, 1954               7 -8
June 1, 1955

DORMITORY REVENUE BOND ISSUE OF 1952
   A.-Coupons detached a-nd not sold,



January 1, 1954
July 1, 1954
January 1, 1955

   B. Bonds with Coupons Attached Not Sold
                  BONDS



July 1, 1990
July 1,1991
July 1, 1992



1 21280
1281 -1340
1341-1400



     8    12-430
     9    24 -430
     10    24-430
     11    36-430
     12    36-346,357-430
     13   48-430
     14   48-279,281-430
     15    61-430
     16    61-430
     17    74-430,
     18    74.-362,430




     1    1-149
     2    1-149
     3    5-149
     4    5-149
     5    10-149
     6    10-149
     7    15-149
     8    15-106,114-149
     9    20-106,114-149




     1    1-46,48-76
     2    1-46,48-76
     3    3-46,48-76
     4    3-46,48-76
     5    5-42,44-46,48 -76
     6    5 -42,44-46,48 -76
     7    7-42,44-46,48 -76
     8    7 -42,44 -.46,48 -76
     9    9 -42,44-46,48 -76



     1    1-1255 Not Printed
     2    1-1255 Not Printed
     3    1-1255
     4    401-1255
     5    901-1255


Coupons Attached to Each
     Nos. 376
          3-78
          3-80




 





10



  C. BONDS & COUPONS CANCELLED AND RETURNED BY PAYING AGENT
          Maturity Date       Principal Bonds        Couporns ..No, on Bonds
July 1, 1954                                          4    1-400
January 1, 1955                                       5    1 -9g00
July 1, 1955                      1-20                6    1-1255



DORMITORY REVENUE BOND ISSUE OF 1953
(Student Dorm.itorie s A, B, T)andF7
November 1, 1953
May 1, 19 54
November 1, 1954

May 1, 1955






DORMITORY REVENUE BOND ISSUE of 1954
  A. Coupons Detached and Not Sold
     November 1, 1954
     May 1, 19 55

  B. Coupons Cancelled and Returned by Paying Agent
     May 1, 1955

     November 1, 1955



1    1-710
2    1-710
3    1-357,360.562,
     566-710
4    1-40,47 -96.105 -114,
     129 -151, 154-158, 168-
     213, 221 -255, 259 -343,
     349 -356, 360-367, 3 70-
     387, 392-469, 502-5Z3,
     544-556, 566-584, 592.
     600, 671-672, 703-709


1    1-722
2    448.-722


2    1 -133, 138-226, 228-
     258, 260-3 10, 3 13 -447,
3    1-133,138-214,225,
     226, 228-258, 262-290
     292 -298, 302-3 10
     3 13 -3 17, 323-722



     J. 1956-57 University Budget Approved.

     President Donovan made a statement concerning the increased funds received
by the University, the schedule of salary increases, and how the total budget had
been prepared.  The following comments were read:

     IN TRODUC TION:

          The University of Kentucky presents herewith the General Fund
     budget requests for $11,161,107. 00 for the three major divisions for
     the fiscal year 1956-57, The Division of Colleges is requesting
     $6,486,635. 00; the Agricultural Experiment Station $2,099,991. 00;
     and the Agricultural Extension Division $2, 574,481. 00.

          The Educational and General estimated income for the Division
     of Colleges has increased in the amount of $1,459,044. 50 over the
     revised budget income for 1955-56; the Commonwealth of Kentucky
     appropriated $1, 374, 150. 00 of this increase. The balance of the in-
     crease will come from student fees and federal funds. For the fiscal
     year 1955-56 the expenditures exceeded the income by $445, 000 009
     which was necessary to carry out the continuing program established in
     prior years. (Had not this deficit been financed from surplus balances
     made available from the Federal (G. L ) Income educational programs
     of former years, it would have been necessary to reduce the Univer-
     sity program for the fiscal year 1955-56, )




 









ESTIMATED INCOME:

      The General Find estimated income includes all income which
is expendable for the current operations of the University.  It does
not include estimates to be added to the Restricted (Trust) Funds,
Loan Funds, Endowment Funds, and other non-expendable funds,
funds for plant additions and Agency Funds. The two major cate-
gories of General Fund income are:

       I. Educational and General
     IL  Auxiliary Enterprises

   I. EDUCATIONAL AND GENERAL INCOME

      This category includes all general fund income Wihich is avail-
able for the instructional, research, extension and public services
programs of the institution, and for general expenses..

     The estimated Educational and General income is reported by
sources as follows:

     A. Student Fees - Under this caption is included the incidental
fees assessed against students for educational and general purposes,
net of refunds. Based on experience the income from student fees
was increased $80,500. 00 for the fiscal year 1956-57.  This increase
was projected on the basis of an enrollment increase of 1016.

     B. Governmental Appropriations  There are jicluded here all
amounts appropriated by the Commonwealth of Kentucky and the Fed-
eral Government, which are expendable for educational ancl-general
purposes,  These appropriations are made to the three major divisions
of the University and the following summary reflects the amount of
increases by source and division for the year 1956-57.
                                     0
SOURCE          TOTAL       DIVISION OF     AGR. EXP. AGR. EXT.
                            COLLEGES       STATION      DIVISION

Common -
wealth of Ky. $1,742,200    $1, 374,150   $ 223,400    $ 144,650
Federal Gov-
ernment         286,544           4,395      127,950      154,199
   Totals    $    87r                      VTT3-;$35,35 0


     C. Endowment Income   Under the United States Land Grant Act
of 1862, an endowment fund was constituted from the proceeds from the
sale of lands granted to the State by that act. This fund now represents
a permanent principal of $144, 075. 00,  The Commonwealth of Kentucky,
on July 1, 1897, assumed responsibility for the payment of interest at
the rate of six per cent per annum,  The University receives $8, 644. 50
annually from this endowment. and $1,000 00 annually from the George
Peabody Endowment Fund,  lThe latter was a gift to the University )




 




12



      D. Sales and Services - Here is reported incidental income of
educational departments and income from sale of tags, inspection
fees, farm sales, and miscellaneous income.,

      There is no anticipated increase in the income from this source
for the Division of Colleges, The Agricultural Experiment Station
receives more than $500, 000. 00 annually from sales and services.
Its estimated increase for 1956-57 is only $10, 000. 00, The Agri.-
c~ultural Extension Division has no income from this source.

     II. AUXILIARY ENTERPRISES INCOME

     Under this heading is reported the gross income of enterprises
existing primarily for service to students, facul.ty, and staff. These
enterprises are usually intended to be self-supporting, that. is, the
income from sales and services should pay for all costs of operation,
Such activities include residence halls for men and women students
and the campus post office. The semester charge for room and
board for the women was raised from $240. 00 to $255. 00 effective
for the fall semester of 1956-57.

ESTIMATED EXPENDITURES:

     The statement of General Fund estimated expenditures includes
not only items of current expense but also expenditures for equipment.
These expenditures are classified by function and by major organiza-
tional unit. The two major categories of General Fund expenditures
are:

             I. Educationa'.. and General
             ILo Auxiliary Enterprises

     I. EDUCATIONAL AND GENERAL EXPENDITURES

         The educational and general expenditures are classified by
functions as follows:

            A. General Administrative Offices
            B. Student Services
            C. Staff Welfare iSocial Security)
            D. General Institutional Services
            E. Instruction and Departmental Research
            F. Organized Activities Relating to Educational Departments
            G. Organized Research
            H,, Extension and Public Services
            1 . Libraries
            J. Operation and Maintenance of Physical Plant

     The aggregate of the increases for educational and general ex-
penditures for 1956.-57 is $1 642, 97b6 00,  This increase for 1956-57
has been appropriated to the following divisions:




 





13



                  DIVISION                               AMOUNT

           Colleges                                     $ 935,477T00
           Agricultural Experiment Station                 408,650. 00
           Agricultural Extension Division                 298,849,00

                   Total.-Increase                      $1,642,976, 00


           II AUXILIARY ENTERPRISES EXPENDITURES

           These expenditures are necessary to carry out the operations of
      the various enterprises.  The estimated expenditures for 1956-57 are
      $379, 548, 00, which is an increase of $15)280M 00 over 1955-56

      RESTRICTED BUDGETS

           The Board of Trustees has authorized the establishment of various
     funds classified as Restricted or Trust Funds (Kentucky Revised
     Statutes 41. 290);  The Board directed that these "private funds and con-
     tributions" be retained and deposited in a local bank, Budgets are in-
     cluded herein for most of these monies, Those not included were
     omitted because sufficient data were not available, In all cases Re.-
     stricted Fund budgets are submitted for approval at the tinie of receipt
     of funds. In the latter case, acceptance of the funds by the Board is
     considered to be authorization for spending the funds in accordance
     with the terms of acceptance.



     Each member of the Board of Trustees was given a personalized copy of
the internal budget of the University, which included Division of Colleges,
Agricultural'Experiment Station, Agricultural Extension Division, Auxiliary
and Restricted Funds. Each member examined in some detail the budget as
submitted,  Various portions were explained, and after due consideration,
upon motion duly made, seconded and unanimously carried, the budget for
the Division of Colleges, Agricultural Experiment Station, Agricultural Exten-
sion, Auxiliary and Restricted Funds, was authorized accepted as a basis
of maximum expenditures for the year 1956-57. Inclusion of the name of any
person in the budget is not to be considered as a contract of employment and
the Board of Trustees or the Executive Committee shall be authorized to make
such changes in the budget as may from time to time be deemed necessary.



     K. Report of Progress on the Indonesian Contract.

     President Donovan reported that officials of the University have been
in constant contact with the International Cooperation Association in Washington
regarding the proposed contract for educational and technical services in
Engineering and the supporting sciences in the University of Indonesia in Ban-
dung. Negotiations have reached the point where a contract in the form de-
sired by ICA has been drafted and sent to us for negotiation  There are some
points which still need clarification and possibly further negotiation.




 




14



      Provost Stahr and Vice President Peterson will fly to Washington June
 24 for conference with officials of ICA in an effort to complete the contract
 and to put same in an acceptable form for execution.

      Upon motion duly made, seconded and carried,.the report of progress
was received and ordered made of record.



      L. Shawneetown Apartment Houses -- Loan Agreement Approved.

      Vice President Peterson submitted Loan Agreement between the Board
of Trustees of the University of Kentucky and the Housing and'Home Finance
Agency acting for and on behalf of the Federal Government. It was reported
that the Loan Agreement was referred to as Project No. Ky. 15-CH-15 -
(D), Contract No. H-302-39.  The loan is for $1, 806, 000. 00 in denominations
of $1,000, negotiable serial coupon bonds payable to the bearer. The interest
rate is 2-3/4% per annum payable semi-annually.  The loan is to be repaid
over a period of 40 years.

      Members of the Board were advised that the contract was in accordance
with application of the Board of Trustees of the University of Kentucky.

      Members being duly advised, upon motion duly made, seconded and carried,
President Donovan and Vice President Peterson were authorized to execute the
loan agreement acting for and on behalf of the University of Kentucky.



     M. Gifts.

                                    From: General Electric Educational
                                           and Charitable Fund - $25. 00.

     President Donovan reported receipt of check for $25. 00 from the General
Electric Educational and Charitable Fund, processed under the Corporate
Alumnus Programn during the first quarter of 1956, and explained that this
donation matches a gift made to the University by E, T. Carvill1  He stated.
that the University was deeply appreciative of the contribution the General
Electric Company is making through its Corporate Alumnus Program and
recommended acceptance of the gift.

     Upon motion duly made, seconded and carried, the gift of $25. 00 from
the General Electric Educational and Charitable Fund was ordered accepted,
and the President was requested to thank the donors.




                                    From: Burley Tobacco Growers Coop-
                                           erative Association -- $12,000.

     President Donovan presented check for $12, 000 from the Burley Tobacco
Growers Cooperative Association, given to be used for scientific research
and investigation into the use of homogenized or reconstituted leaf of burley
tobacco in the manufacture of cigarettes. He expressed great appreciation




 




15



of the gift and recommended its acceptance,

      Upon motion duly made, seconded and carried, the gif t of $12, 000 from
the Burley Tobacco Growers Cooperative Association was ordered accepted.
and the President was requested to write a letter of appreciation to officials
of the Association,



                                    From: Spencer Chemical Company
                                           $2, 500. 00.

      President Donovan reported receipt of check for $2, 500. 00 from. the
Spencer Chemical Company, to be used in prosecution of the Experiment Sta-
tion' s project on fertilization, He recommended that. it be accepted,

      Upon motion duly made, seconded and carried, the Board concurred in
the recommendation of the President, and requested him to thank the donors.



                                    From: American Cyanamid Company -
                                           $1, 50  000

     President Donovan presented check for $1, 500. 00 from the American
Cyanamid Company to be used in cooperation with the Experiment Station' s
project entitled "Effect of Feeding High Levels of Chlortetracycline  to
Growing-Fattening Pigs. VI He recommended that it be accepted.

     Upon motion duly made, seconded and carried, the Board authorized
acceptance of the gift and requested the President to write a letter of appre-
ciation to the American Cyanamid Company.



                                    From: Mr, E. T. Carvill, Chicago,
                                           Illinois -- $25. 00.

     President Donovan reported receipt of $25. 00 from Mr. E, T, Carvill,
Chicago, Illinois, which had already been matched by a similar contribution
from the General Electric Educational and Charitable Fund. He recommended
that it be accepted, and upon motion duly made, seconded and carried, the
gift of Mr. Carvill wvas authorized accepted and the President was requested
to write a letter of appreciation,



                                    From: Fayette County Society of
                                           Crippled Children -. $500. 00,

     Pr