<pre style="white-space: pre-wrap">xt7hx34mm49f https://exploreuk.uky.edu/dips/xt7hx34mm49f/data/mets.xml Lexington, Kentucky University of Kentucky 19370924 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, 1937-09-nov24-ec. text Minutes of the University of Kentucky Board of Trustees, 1937-09-nov24-ec. 1937 2011 true xt7hx34mm49f section xt7hx34mm49f 


     Minutes of the Meeting of the Executive Committee of the
Board of Trustees of the University of Kentucky, Wednesday, No-
vember 24, 1237.


     The Executive Committee of the Board of Trustees of the Uni-
versity of Kentucky met in President McVey's office at the Uni-
versity Wednesday, November 24, 1937, at 10:30 a.m.    The members
of the Committee present were Robert G. Gordon, who acted as
Chairman;  James Park and J. B. Andrews.    President Frank L.
MoVey and D. H. Peak, Secretary of the Board, were present.


     1. Approval of Minutes.

     The minutes of the meeting of the Executive Committee of
September 21, 1937, were approved as published; the minutes of the.
meeting of the Executive Committee of October 20 were approved
as published, except section 11, P.W.A. Construction.    For cor-
rection of that section, see Section 26, Minutes of this meeting.


     2. Financial Report.

     The financial report for October 1937 was filed by the Busi-
ness Agent.   It was examined by the Committee, and was ordered
inserted in the Minutes.


             Statement of Income and Expenditures
                     Month of October 1937


Previously
Reported


          Fiscal
Current   Year
Month     to Date


General Fund Income
  Fed. Appro.-Morrill-Nelson
  Vocational Education Board     4,356.73
  State Appro.-Summer School    8,000.00
  Special Agr. Appro.            6,000.00
  State Appro.-General        142,584,530
  State Appro.-Repairs to
       Bldgs.                   2,208.50
  Federal Appro.-Bankhead-Jones
  Student Fees                 105,885.44
  Student Fees - Summer Sch.   62,216.40
  Student Fees - U.1H.S.         3,650.00
  Student Fees - El.TrSch.       3,420.00
  Student Fees - Univ. Exten.    2,995,20
  Miscellaneous Receipts         2,168,52
  Rentals                          143.00
  Men's Dormitories              7,614,3_


5,713.33
3,056.50

2,000.00
78,706.66

   912.08
 3,324.99
 13, 130.76
    71.75
 1,080.00
   340.00
 2,255.89
   265.93
   165.00
   707.85


5,713.33
7,413.23
8,000.00
  8,000.00
221,290.06

  3,010.58
  3,924.99
119,016.20
62,288,15
  4,730.00
  3,760.00
  5,251.18
  2,434. 45
    308.00
  8,322.24


T3112,330.74 464,36,331


--352,032. 57


Total


2.


Expenditures
  Instruction                 11
  Administration, Expense
    and Maintenance
 Additions and Betterments
                Total         2
 Excess of Income over
     Expenditures             1

Patterson Hall Income
Board
M'iscellaneous Receipts
Room Rent - Summer School
                Total

Expenditures
Expense
  Excess of Income over Ex-
    penditures

General Ledger Income         3'
General Ledger Expend-tures   2
Excess of General Fund In-
    come over Expenditures    1
  Excess of Expenditures over
  Receipts for General Ledger
    accounts                  (
 Accounts Payable
 Excess of Receipts over
    Expenditures for the
    fiscal year to date -
    General Fund
 Excess of Receipts over
   Expenditures for the
   fiscal year to date -
   General Fund
 Cash in Bank July 1, 1937 -
    General Fund
  Cash in Bank October 31, 1937
    General Fund


Experiment Station Income
Hatch - Federal Appro,
Milk and Butter - Cash Ren.
Beef Cattle Sales
  Dairy Cattle Sales
  Sheep Sales
  Swine Sales
  Poultry Sales
  Farm Produce Sales
  Hort i cultural Sales
  Seed Test
  Seed Inspection
  Rentals
  Miscellaneous


34,120.64


57, 744.57
1,736.70


78,130.65

24,730.09
4,408.80


262,251.29


82,474.66
6,145.50


13, 601. 91  107,269. 54 350, 971. 45

08, 430.66     5,061.20  113, 491.86


L4,756.40      1,079.00    15,935.40
      .50                        .50
1,932.56                   1,932.56
16 X689.46     1,079.00    17,768.46


4,903.02       3,292.63    8,195.65

11,786.44      (2,213.63L   9,572,81

68,722.03    113,409,74 482,131.77
48,504.93    110,562.17  359,067.10'

20,217.10      2,847.57 123,064.67


12,974.46)    (89,932.02)(102,906.48)
19,802.19)                (19 ,802.19)


87-,440.45      97    a)      356.00


  356.00

89,788.13

90,144.13


3,750.00
2,505.59

   59.00
   364.80
   5 9.43
   440.11
   380.32
   647. 57
   223.50
5,974.77
  334.01
  127.20


3,750.00
  852.86
  73.00
  321.13
  181.70
  48.30
  103.11
  122.15
  164.70
  94.25
3,170.78
  144.67
  27.15


7,500.00
3,448.45
   73.00
   580.13
   546.50
   317.73
   543.22
   502.47
   812.27
   317.75
9,145.55
  478.68
  154.35


3.


Fertilizer - Fees           12
Public Service - St. Appro. 5
Public Service - Misc.Rec.
Feeding Stuffs - Fees       17
Adams - Federal Appro.       3
Serum Sales                  1
Serum - Virus Sales
Serum - Supply Sales
Serum - Misc. Receipts
State Appropriation         12
Creamery - License Fees      C
Creamery - Testers' Lic.     I
Creamery - Glassware Tested
Robinson - State Appro.
Robinson - Misc. Receipts
West Ky. - State Appro.
West Ky. - Misc. Receipts    I
Purnell - Fed. Appro.        I
Bankhead-Jones-Fed. Appro.  1l
Nursery Inspection-State Ap-
   pro.
 Nursery Inspection - Fees    I
                  Total      12'

ExDenditures
Expense                     8'
Additions and Betterments    -
                  Total       8'
 Excess of Income over Ex-
 penditures                 3
 Excess of Receipts over Ex-
 penditures for General
 Ledger accounts
 Accounts Payable           (1
 Excess of Receipts over Ex-
 penditures                _
 Excess of Receipts over Ex-
 penditures for the fiscal
   year to date - Experiment
   Station
   Cash in Bank July 1, 1937 -
   Experiment Station
   Cash in Bank October 31, 1937

Extension Division Income
  Federal Bankhead-Jones     18
  Federal Smith-Lever         7
  Federal Supplementary       1
  Federal Capper-Ketcham      1
  State Smith-Lever           3
  County and Other
              Total         32


,922.50
,176.91
   5.00
,515,59
3,750. 00
L,072.28
  38.65
  30.45
  25.51
,212.49
,375.96
.,991.89
290.70
,,394.17
974.95
5,243.29
5,937.83
),000.00
4,800. 88

5410.00
1, 030. 00-
4,095,35


7,297.13
L, 905. 10
),002,23

1,893.12


L,805.32
1,535.25)


3,365.25
4,154,38
3,272,76
8,400.49
2,533.78
5.091.43
)6,818.09


4,955.00
1,599.97
   15.00
4,626.68
3,750.00
  282.01
  93. 30
  40.12

3,932.00
   61. 50
   58.00
   2.27
1,019.55
  320.15
2,232. 20
  439.41
15,000.00
14,800.88


180.00
350.00


17,877. 50
6,776.88.
    20.00
22,142.27
7,500.00
1,354,29
   131.95
   70.57
   25.51
16,144.49
9,437.46
2,049.89
   292.97
 4,013.72
 1,295.10
 5,475. 49
 6,377.24
 30,000.00
 29,601.76


720.00
1,380.00


62,811.84  186,907.19


36,186.61  1.23,483.74
1,822,51    3,727.61
38,009,12  127,211,35

24,802.72   59,695.84


(1,724.02)     91.30
            (11,535.25)

23,078.70   48,241.89


            48,241.89

            26,472.45
            74,714.,34


            183,365.25
            74,154.38
            13,272,76
            18,400.49
10,869.59    43,403.37
   182.73     5,274.16
11,052.32   337,870.41


4.


Expenditures
Expense


162,819.60


62,772.54    225,592.14


Excess of Income over Ex-
penditures                163,998.49     (51,720.22)   112,278.27


Excess of Income over Ex-
penditures for the fiscal
year to date - Extension
Division
Cash in Bank July 1, 1937 -
Extension Division
Cash in Bank October 31, 1937
Division


Trust Fund Income
  Student Loan Fund
  Student Notes Paid
        Total Receipts

Expenditures
Student Notes


Excess of Receipts over
Expenditures


112,278.27

  2,672.00


- Extension


556.60
373.53
930.13


114.950,27_


244.69
268.88
513. 57


100.00


830. 1,3


801.29
  642.41
1,443.70


100.00


513.57


Excess of Receipts over Ex-
penditures for the fiscal
year to date - Trust Fund
Cash in Bank July 1, 1937 -
Trust Fund
Cash in Bank October 31, 1937
Trust Fund


1,343.70


1,343.70

4,267.53

5,611.23


Summary
  General Fund Income        368,722.03
  Experiment  Station Income 124,095.35
  Extension Div. Income      326,818.09
  Trust Fund Income              556. 60
                  Total      820,192.07


General Fund Expenditures 248,504.93
Experiment Station Expend. 89,202.23
Extension Div. Expend.     162,819.60
Trust Fund Expenditures       _
                Total      500,526.76


113,409.74
62,811.84
11,052.32
    244.69


482,131.77
186,907.19
337,870.41
    801.29


187,518.59  1,007,710.66

110,562.17    359,067.10
38,009.12    127,211.35
62,772.54    225,592.14

211,343.83 _711,87059


Excess of Income over Ex-a
penditures


Accounts Payable


319,665. 31

(31,337.44)


(23,825.24)


295,840.0?

(31,337.44)


Excess of Expenditures over
Receipts for General Ledger
accounts                   (11,169.14)


(91,656.04)  (102,825,18)


5.


Student Loan Fund Notes

Excess of Receipts over
Expenditures for the f is
year to date - Combined
Fund


273.53        268.88


q7_,432.26


(115,212.40)


   542.41


162,219.86


Excess of Receipts over Ex-
penditures for the fiscal
  year to date - Combined Fund
  Cash in Bank and on hand July
  1, 1937 - Combined Fund
-Cash in Bank and on hand October
  31, 1937 - Combined Fund


162,219.86

125,400.11

287,619.97


Abstract of item shown on Statement
of Income and Expenditures as "Excess
of Expenditures over Receipts for
General Redger accounts $102,825.18"


Accounts Receivable

Sundry accounts


  Debit

102,184.79

    640,31

102,825.18


Credit t


6.


     3. Requisition Committee Report.

     The Requisition Committee filed written report of its action
each week from October 13, 1937 to November 17, 1937, inclusive.
The report showed orders made by the Business Office on the authori-
ty of the Requisition Committee in the manner prescribed by the
Board of Trustees and State laws, running from No. 2428 to No. 3291.
The report was examined, and on motion and second the orders named
therein were ratified and approved and payments on said orders were
authorized and approved.

     The following additional budget appropriations were approved
and allowed: Buildings and Grounds budget, Girls' Gymnasium, .861.25;
outside light at Museum, 816.27; Department of Music, material for
robes, t25.00.

     Other budget additions shown in these Minutes:

(Sec. 7) Uniforms for watchmen, 8120.00; door at Memorial Hall,
*12.00.


     4. Budget Report Filed.

     President McVey reported that he had filed with the Division
of the Budget, State Department of Finance, the University of Ken-
tucky budget report for biennium ending June 30, 1938, and requests
for appropriation for biennium following, as approved at meeting of
Executive Committee, October 20, 1937.   General discussion followed
but no further recommendations were made.


     5. Egalite-Wilson Fruit Company's Claim.

     A statement of account claimnd due by Egalite Fruit Company,
Lexington, Kentucky, made as of November 8, 1937, was Dresented.
The claim is for food furnished for animals, Johnston Solar Labora-
tory.   This claim has been acted on at former meetings of the Execu-
tive Committee and Board of Trustees, no order of payment beingr
made.   The President and Business Agent were directed to disregard
further statements of the account claimed.


     6. Collections from Sale of Boilsrs and Equipment.

     The Business Agent reported that he is receiving funds from
sales of heating and other equipment made by the Committee hereto-
fore appointed to sell, or dispose of, equipment rendered useless
to University by reason of P.W.A. program, and he asked for in-
structions as to disposition of such funds.

     On motion duly seconded and passed, the Business Agent was au.-
thorized to receive the funds collected by the Committee members,
President MIc.Vey, Dean Graham, Superintendent Crutcher; to receipt
therefor and to credit the amounts received to general income. He
was further authorized to remit such collection monthly to the


7.


State Treasurer, for credit to University revolving funds, as con-
templated by law.   The sales committee shall make report to Board
of Trustees when sales are completed.

     7. Expenditures Authorized.

     Following changes in buildings, the cost thereof and other ex-
penditures were approved and authorized as Budget additions: uni-
forms for watchmen, 120.00; door between dressing rooms snder
stage at Memorial Hall, $12.00; removal of running track in Women's
Physical Education Hall, the work to be done by W.P.A. labor, no
additional expense being contemplated.

     8. Bound Files of Lexington Herald and Lexington Leader - In-
surance.

     Refer to Section 14, Minutes of Executive Committee, Septem-
ber 21, 1937, for minute noting acceptance of bound files of Lex-
ington Herald and Lexington Leader by University Library. The Li-
brarian raised the question of whether or not the University should
carry insurance on these files.   It was the opinion of the mem-
bers of the Executive Committee that under the agreement of ac-
ceptance the University did not assume responsibility for loss by
fire or otherwise and that no insurance should be carried by the
University.

     9. Boiler Insurance.

     The Business Agent submitted the following:

     I submit a list of hot water heaters and boilers that are not
included in the boiler insurance policy.  I also submit letter of
Mr. Melton who is agent for the Hartford Insurance Company that
carries the policy.   You will note that there is a large refund
to the University on the old policy and suggestions that Mr. Mel-
ton makes in regard to using this refund for carrying boilers on
the list herewith submitted. By the way, Mr. Melton is senator.-
elect from his district.

     I have submitted this list to Mr. Crutcher and also similar
list to Mr. Farris. Mr. Crutcher suggests that insurance should
be carried on the boilers and heaters as checked on the list. I
shall be glad to have an order of some kind in regard to this.


     The list mentioned was turned over to Dean Graham for inves-
tigation of the needs of insurance thereon, and President McVey
was authorized to act orn Dean Graham's report as to items to be
included in boiler insurance policy.

     10. Insurance on Kinkead and Breckinridge Halls.

     Following up the subject of cancellation of insurance on Kin-
kead and Breckinridge Halls (see Minutes of Executive Committee,
Section 5, October 20, 1037), the Business Assent produced a copy
of letter of transmittal of material to Attorney General, which is
in words and figures as follows:


8.


                                         September 22, 1937


Hon. Hubert Meredith
Attorney General
State of Kentucky
Frankfort, Kentucky

Dear Sir:

          The Executive Committee of the Board of Trus-
tees of the University of Kentucky, at a meeting held Sep-
tember 21, 1937, ordered that I submit to you the enclosed
papers.   The questions involved arise on the action taken
and requested by letter of the Director of Insurance regard-
ing cancellation and rewriting of insurance policies on Kin-
kead and Breckinridge Halls (Men's Dormitories) now held
and ordered written by the Security Trust Company of Lex-
ington, Kentucky.   A copy of the letter is submitted with
the other papers.   The title to the property is in the Se-
curity Trust Company, the University of Kentucky holding it
by lease.   Therefore, the right of the University to cancel
the insurance is questioned, and your opinion and advice is
requested.

          It will be greatly appreciated if you will consid-
er the question and let us hear from you at as early date as
possible.

                                (Signed) D. H. Peak
                                           Business Agent


     A copy of the letter was given to Mr. Gordon in order that
he might have further communication with the Attorney General in
regard to the questions raised.


     11. Campus Book Store Report.

     D. H. Peak, as Chairman of the Campus Book Store Committee,
presented the report of the Campus Book Store for six months end-
ing June 30, 1937.    It was ordered inserted in the Minutes.
Copy follows:


          Report of The Campus Book Store.

                 January 1937 -- June 1037


                              Respectfully submitted:

                                   (Signed) James Morris
                                            (Manager)


9 .


                        Sales

January -___________________________________     -----

February ---------------------------------____

March -------------------------------------------

April ------------------__--__________________----

May ----------------------------------------------

June -----_-_________________________________-----


$ 2,211.49

21,332.22

3,617.29

2,532.76

2,941.07

  6,918.24
839,55.3.07


                      Commission Applied

Gross Sales Commission -------------------------------- $ 3,955.30

Exemptions and deductions -----------------------------


Law Textbooks ---------------------------- 826.38
Dr. M. G. Caldwell -----------------------    .81
Dr. H. B. Holmes -------------------------   4.03
Dr. W. W. Jennings -1---- 183.0'7
Dr. F. T. McFarland ----------------------   2.30
Professor V. R. Portmann ------   -------    4.24
Dr. Hobart Ryland ------------------------   1.58
Professor Blaine Schick ---   ------------   5.47
Professor P. K. Whitaker -----------------   2.16
Professor W. S. Webb ---------------------   4.05
Dr. M. M. White --------------------------  45.69
Young and Averitt ----------------------     1,17
Paint Job ------------------------ ------- 65.00
Steel Shelving for the Store -----------   317.88


663,83


Net Cash Return to University ----


$ 3,291.47


     12. Student Loan Fund Investment.

     The Business Agent stated as follows:

     There is opportunity to buy a $5,000.00 Stete Warrant dated
March 1937.   I think it can be purchased  at 1 to 2 per cent
premium.

     There is also opportunity to buy a bridge bond or. the bridge


10.


recently purchased by the State which extends from M1adison, Indiana,
to Mklton, Kentucky, over the Ohio River.    This bond canbe bought
at a premium of between 1 and 2 per cent and bears three per cent
interest rate and is callable at 1021.

     Statement of Condition of Student Loan Fund as of October 31,
1937;

               Cash in Bank -----             5,611.23
               Cash on Interest Deposit --- 13,000.00
               Water Company Bonds -----      5,000.00
               StLate Warrants ------------- 4,600.00
               Federal Loan Association De-
                  posit -------------------   5,000.00
               Student Notes -------------- 17,228.45
                                            ~50,439.68


     The question of investment was referred to Ir. Gordon for
study and advice.


     13. Deeds Filed with Secretary of State.

     DeHore and Purnell Purchases:

     Copy of letter of Business Agent to Secretary of State was or-
dered inserted in the Minutes..


                                       November 17, 1937


     Hon. Charles D. Arnett
     Secretary of State
     Frankfort, Kentucky

     Dear Mr. Arnett:

               I am enclosing deed datI June 1037 from Fred
     J. Benckart and Gertrude H. Benckart, Margaret Saloshin
     and Jake Saloshin, Alice B. SRnten and Bernard Santen to
     the University of Kentucky together with abstract of title
     of the lot conveyed in the deed; also deed dated June 28,
     1937, from Annie Purnell to University of Kentucky together
     with abstract of title of the lot conveyed in the deed.

               I am doing this in compliance with the law to the
     end that these papers shall be filed in your office.


                                 (Signed) D. H. Peak
                                          Business Agent,


11.


        14. Removal of Law Library.

        The Business Agent reported that he had. ,notified Dean
   Alvin E. Evans of the Law College of the resolution passed at
the September, 1937, meeting of the Executive Committee in regard
to removal of the law library to new Law Building.    He further
reported that Dean Evans had answered by letter which is in part
as follows:

               We would be in the utmost confusion to try
          to run without having access to our books.

               I hope the Board will continue to trust me
          in the management of the matter, with the under-
          stLncding that we will move at the earliest possible
          moment.


       The Committee deemed it expedient to acquiesce in Dean
 Evans' suggestions and request.


      15. Campus Plans - Committee Appointment Approved.

      The President reported appointment of a Committee on Campus
 Plans, Roads, Walks and Planting.    Names of Committee follow:
 N. R. Elliott, D. V. Terrell, and M. J. Crutcher.    The appoint-
 ment was approved,


      16, Botanic Garden - Committee Appointment Approved.

      The President reported appointment of a.Committee on Botanic
 Garden, the Committee being named as follows' N. R. Elliott,
 M. J. Crutcher, Mary Didlake, A. J. Olney, W. D. Valleau, F. T,
 McFarland, Mrs. F. L. McVey, Mrs. Ed Clark and Mrs. W. T. Laf-
 ferty.   The appointment was approved.


      17, Library - Storage Room Provided.

      President McVey stated that due to receipt of several truck
 loads of records and documents from the State Capitol and the
 probable receipt from same source of other records, including
 county assessment records, the capacity of the Library Building
 for storage of such material is severely taxed. He suggested
 making provision in the basement of the Memorial Building for
 that purpose.   His suggestion that the records of assessment
 and other records received from State Capitol are very valuable
 for use in historical and statistical research was concurred iln
 by the members of the Committee, and by unanimous vote the Pres-
 ident was authorized to have prepared in the basement of the
 Memorial Building suitable storage space for the Library over-
 flow and to place therein such records as he may deem proper and
 advisable, He was authorized to make expenditures necessary to
 that end.


12.


     18. Women's Residence Halls -- Cooperative Houses.

     At President McVey's request he was authorized to have worked
out plans for (1) new residence hall for women, (2)the completion
of top floor of Patterson Hall (the cost estimated at $10,000.00)
and (3) cooperative houses for women,

     It is contemplated that the cost of all such construction may
be taken care of by increased revenue from rentals.


     15. Heating - Class Room Regulations.

     In order to get most satisfactory results from the new Heating
Plant, President McVey stressed the need of regulations for class-
rooms and offices,   The members of the Committee approved the
suggestions made, and the Preside:;t was authorized to prepare a
statement as to proper use of the heating plant facilities and to
mail a copy to each member of the staff of the University.


     20. Tapestry - Loaned by Mr. Madden.

     Receipt of loan of tapestry by Mr. Edward Madden is acknowl-
edged.

     The set consists of five large tapestries and several minor
pieces.   The main scenes are: The Battle of the Garnicus, the
Battle of Arbela (the present one), the Defeat of Porus, the Fam-
ily of Darius or the Clemency of Alexander (the best known of the
set), and the Triumph of Alexander.


     The above is copied from the authentication referred to in
following letter:


     President McVey

          Enclosed is a copy of Dr. Meyer-Riefstahl's au-
     thentication of Mr. Madden's tapestry.   It is being
     set in place this morning. East wall of the Reference
     Room.


kSigned) E. W. Rannells.


13.


     21. Supplementary Lease to Lexington Utilities Company.

     Dean Cooper submitted the supplementary lease to the Lexing-
ton Utilities Company, as changed and ap roved by the Company and
Dean Cooper; signed and executed as authorized by the Executive
Committee at the meeting of September 21, 1937, section 18.
The execution of the lease was apDroved on motion duly seconded
and passed, and it was ordered copied in the Minutes.    It is in
words and figures as follows:


          THIS SUPPLEMENTAL LEASE made and entered into this the
     28th day of September, 1937, by and between UNIVERSITY OF
     KENTUCKY, a Corporation created and existing under and by
     virtue of the laws of the State of Kentucky, with its
     principal office at Lexington, Kentucky, party of the first
     part, and LEXINGTON UTILITIES COMPANY, a Corporation created
     and existing under and by virtue of the laws of the State
     of Kentucky, with its principal office and place of busi-
     ness in Lexington, Kentucky, party of the second part:

                       WITNESSETH:

          THAT, WHEREAS, on September 23, 130, the party of
     the first part leased to the party of the second part a
     tract of land situated near the intersection of Rose Street
     and the Nicholasville Pike or South Limestone Street, in
     the City of Lexington, Kentucky, to be used solely and
     only for the purpose of the installation and maintenance
     of an outdoor electrical transformer sub-station and/or
     an electrical switching station, which would provide an
     auxiliary or main source of supply of electrical energy
     for the Kentucky Agricultural Experiment Station and.
     its Experiment Station Farm, and any and all lands then or
     thereafter used or occupied in connection therewith, as
     well as other light and power consumers in the City of
     Lexington and vicinity; and,

          WHEREAS, the requirements of the first party's Ex-
     periment Station and Farm and of private consumers along
     the Tates Creek Pike have increased during the past seven
     years so that it is now necessary for the party of the
     second part to double the size of its said substation
     located as aforesaid upon the property of the party of
     the first part; and

          WHEREAS, in order to increase the size of said sub-
     station, it is necessary to lease additional ground be-
     longing to the party of the first part and adjacent to
     the property now occupied by said sub-station; and,

          WHEREAS, it is to the advantage of the party of the
     first part that said sub-station be increased, and the
     party of the first part is willing to lease additional
     ground as hereafter described to second party for the
     purpose of enabling the party of the second part to


14.


enlarge its said sub-station and install necessary regula-
tors and equipment, upon the terms and conditions hereafter set
out;

     NOW, THEREFORE, in consideration of the premises, the
rental hereinafter stipulated, and in further consideration of
the mutual covenants herein contained, it is agreed between the
party of the first part and the party of the second Dart, viiz

     The party of the first part hereby leases unto the party
of the second part for a period of eighteen years, ending the
23rd day of September, 1955, said lease terminating in any and
all events with the lease herein mentioned and heretofore en-
tered into between the party of the first part and the party
of the second part on September 23, 1930, the following de-
scribed tract of land situated in the County of Fayette and
State of Kentucky, adjacent to the tract of land now occupied
by said sub-station and more particularly described as follows:

          Beginning at the point in the line of fence be-
     tween the first party's (Kentucky Agricultural Station
     Farm) and the right-of-way of the Kentucky Traction
     & Terminal Company on the east side of the Nicholasville
     Pike, or South Limestone Street, which point is approx-
     imately 52' measured in a southerly direction from the
     stone post marking the corner of said Far: at the Junc-
     tion of South Limestone Street, or the Nicholasville
     Pike, and Rose Street at or about the present city
     limits of the City of Lexington; thence along said
     fence line in a southerly direction 25' to a stake;
     thence in an easterly direction and at right angles
     85' to a stake; thence at right angles and in a north-
     erly direction 75' to a stake; thence at right angles
     in a westerly direction 351 to a stake; thence at right
     angles and in a southerly direction 50' to a stake;
     thence at right angles and in a westerly direction 501
     to a stake, the point of beginning, containing 3875 sq.
     ft., and being a part of the first party's (Kentucky
     Agricultural Experiment Station Farm).

     The party of the second part shall duringr the term of this
lease pay to the party of first part as rental for said tract
of land, and in addition to the rental now being paid by the
party of the second part to the oarty of the first part for
the use of the site now occupied by said sub-station, the sum
of $50.00 per year.   The party of the second part agrees to re-
pair and/or replace all drainage tile upon or adjacent to the
tract of land herein described which the party of the-second
part may damage or destroy in the installation, maintenance
and operation of said outdoor electrical transformer sub-station
and/or electrical switching station.   First party shall have
the right at any time to send its representative, when accompa-
nied by a representative of second party, upon the premises
herein leased to second party for the purpose of allowing first
party at its own cost to make necessary repairs to that part of
its drainage system under and upon said oremises.


15.


         Section 6 of the original lease herein referred to, dated
    September 23, 1930, which Section grants unto the party of the
    second part a right and option of renewal at the expiration
    of twenty-five years from the date of said lease, is hereby
    cancelled and shall hereafter be of no force or effect.   By
    the cancellation of said right and option of renewal it is the
    intention of the parties that they, and their successors and
    assigns, shall at the expiration of said twenty-five years
    from September 23, 1930, be free to negotiate a new lease
    without any obligations or restrictions imposed by the orig-
    inal lease.

         In all other respects, except as herein expressly stated
    to the contrary, this lease shall be subject to the same terms
    and conditions, as those contained in said lease between the
    party of the first part and the party of the second part dated
    September 23, 1930, a copy of which said lease is attached here-
    to and made a part hereof as fully as if set out herein ver-
    batim.

         IN WITNESS WHEEOF, the party of the first part has here-
    unto set its hand by Thomas Cooper, its Dean of the College
    of Agriculture pursuant to authority conferred upon him by
    a resolution of the Universityts Board of Trustees, dated Sep-
    tember 2, 1937, and caused its corporate seal to be affixed and
    attested by the Secretary of its Board of Trustees, and said
    party of the second part has hereunto set its hand by Washing-
    ton Reed, its President, and' has caused its corporate seal to
    be affixed and attested by its Secretary, this the day and
    year first above written.

    ATTEST:                          UNIVERSITY OF KENTUCKY
(Signed)                      (Signed)
      D. H. Peak                     BY:  Thoims Cooper
    Secretary of its Board               Dean of the College of
    of Trustees                          Agriculture.


    ATTEST:                          LEXINGTON UTILITIES COMPANY ,
(Signed)                      (Signed)
     G. C,. Jones                    BY; _ W. Peed
     Secretary.                           President.


16.


STATE OF KENTUCKY,
                  SS
COUNTY OF FAYETTE,

     Before me, Jane J. Nichols, a Notary Public in and for said</pre>