Minutes of the Recessed Meeting of the Board of Trustees of the University
of Kentucky, August 24, 963.


       The Board of Trustees of the University of Kentucky met in the President's
Office on the campus of the Unive rsitV of Kentucky at 10:55 a.m., Eastern
Standard Time, on Saturday, August 24, 1963: pursuant to recess and adjourn-
ment from the statutory meeting held pursuant to KRS 164. 170 on June 4, 1963.
The following members were present: Governor Bert T. Combs, Chairman,
Dr. Ralph Angelucci, Vice Chairman, Judge James A. Sutherland, Secretary,
Dr. R. W. Bushart, Dr. Harry Denham, Mr, Sam Ezelle, Mr. Robert Hillen-
meyer, Dr. H. B. Murray, Mr. Gilbert Kingsbury, Mr. Clifford E. Smith,
Mr. Floyd Wright, and Dr. Lewis Cochran and Professor Paul Oberst, non-
voting faculty representatives.  Absent were: Mr. Emerson Beauchamp, Mr.
Wendell P. Butle r, M r. Smith B roadbent, and Mr . W. F. Foste r. Dr. A, D.
Albright, Interim President, was also present.


       A, Meeting Opened

       It having been determined that a quorum was present, Governor Combs
called the meeting to order and asked Judge James A. Sutherland to pronounce
the invocation,


       B. Minutes Corrected and Approved

       Mr. Smith indicated that he had reviewed the Minutes of the June 4, 1963
meeting of the Board of Trustees and in order that it might be shown clearly
what action was taken, he made a motion that the Minute.s of the June 4, 1963
meeting be approved with the clarification that since the motion to adjourn which
had been made prior to the presentation by the campus planners did not have a
second, the motion that the meeting be recessed to reconvene on the call of the
Governor represented the official action taken at that time.  On second, Mr.
Smith's motion that the Minutes of the June 4, 1963 meeting be approved with
the above clarification was passed.


       C. Professor Oberst Sworn in

       Governor Ccmbs welcomed Professor Paul Oberst, the newly elected
faculty representative on the Board, and administered the oath of office.


       D, Report on Investments

       Dr. Albright reported u investments and indicated that funds from a
number of small accounts had been consolidated and placed in short term invest-
ments, included as follows: