https://digitalcollections.eku.edu/files/original/94da6e0104b7a51122418f6b2a4165ef.pdf 080c3882b3fdcb67e053036115dc2e2f PDF Text Text .32.3 MINUTES OF THE MEETING OF THE BOARD OF REGENTS OF EASTERN KtNTUCKY STATE COLlliGE January 9, 1963 The Board of Regents of Eastern Kentucky State College convened in regu- I lar quarterly session in the office of the President of the College, at Richmond , Kentucky, on January 9, 1903, at 2:00 P. M., EST, pur suant to KRS 164 . 340 and notice duly mailed by the Chairman to each member of the Board. In absence of the Honorable Wendell P. Butler, Chair man , and Earle B. Canbs , Sr . , Vice Chair man, Thomas B. McGregor was on motion of Dr. Todd, seconded by Mr. Dupree unanimously elected to serve as Chairman of the meeting . Upon call of the roll it was ascertained that the following members of the Boar d were present : Mr . Sidney W. Clay Mr. F. L. Dupree Judge Thomas B. McGregor Mr . Wilson Palmer Dr. Russell I . Todd Absent were : I Mr. Wendell P. Butler , Chairman Mr . Earle B. Combs, Sr., Vice Chairman Also present were Dr. Robert R. Martin, President of the College , and J . C. Powell, Secr etar y of the Board . It having been determined that a quorum was present for the transaction of business , the Chairman called the meeting to order . APPROVAL OF MINUTES OF MEETING OF NOVlliBffi 3, 1962 Mr. F. L. Dupr ee moved that the reading of the minutes of the previous meeting be waived and the minutes of the previous meeting be approved as submitted . The motion was seconded by Dr . Russell I . Todd and approved by the Board unanimously. CONS IBUCTION OF TOWERS Pr esident Martin reported to the Board that he had received from the I Housing and Home Finance Agency a reservation of funds in the amount of $2, 850 , 000, fo r the construction of two men ' s dormitories with a total of 720 beds, said project having for identification purposes , been called the Towers . He further reported that Br ock and Johnson , Architects , have completed Hnal plans on these two twelve- stor y dormitories and that he had approved the final plans and forwarded them to the Department of Finance for their study, and approval. He stated that it was his hope that these plans would be placed �for bid within the next week and that bids be opened by the fifteenth of February in time for a report to the Board when the adjourned meeting convenes on Wednesday, February ?O . He further stated that he hoped that the loan agreement could be sec~red from Atlanta very soon . President Martin then stated that he had the distinct honor to recommend that the Board honor two of its members who have served with great distinction during this period of great expansion at Eastern. He stated I that these men who are your fellow Board members are men known to you and you are fully cognizant of the fine contrjbutions which they have made . He stated that this recommend ~tion is concurred in by an unofficial canmittee of the faculty a nd staff. President Martin recommended that the east dormitory be known as Dupree Hall in honor of Mr . F. L. Dupree and that the west dormitory be known as Todd Hall in honor of Dr. Russell I . Todd . President Martin fur- ther recommended that the two dormitories be officially called The Towers . Mr . Wilson Palmer moved that the Board aporove the President ' s recommendation in this matter. The motion was seconded by Mr . Sidney W. Clay and approved by the Board unanimously, with Mr. Dupree and Dr . Todd not voting . I Dr . Todd and Mr . Dupree expres sed to the Board their appreciation for this honor . APPOINTMENT OF EXECUTIVE ASSISTANT President Martin recalled for the Board that the oosltion of Executive Assistant has been vacant since July 1, 1 962 . The President stated that the duties of Executive Assistant are such as to require the fulltime activities of a qualified person and are very necessary in the administration of the College . The President recommended tha t the Board promote Mr. J ohn L. Vickers to the position of Executive Assistant without adjustment in salary. The President stated that Mr . Vickers would continue , at least during this semester, to carry on his wide spread promotional activities . Dr . Russ ell I . Todd moved that the President ' s recoillJ"lendation be approved by the Board . The motion was seconded by Mr. F. L. Dupree and approved by the Board unanimously . APPOINTMENT OF COORDINATOR OF DEVELOPMENT President Martin mad e the followin g report to the Board: 11 The generally accepted organization of college administration takes I �into account four specific fie l ds, namely; academic affairs , student affairs, business affairs, and public affairs . Many t im es public affairs are desig- nated by a generally more acceptable term, and, for that matter, a broader term -- the term of college development. Prior to July 1, it was the responsi- bility of Mr. Powell, as my Execut i ve Assistant, to give ;mat t i me he could I to this aspect of our program . 11 11 I am recommending that we de s ignate Mr. Don Feltner, our Director of Publicity and Publications, as our Coordinator of Development . I am quite confident that Mr. Feltner has a very significant contribution to ms.ke in the whole area. He has done, as you know, a magnificent piece of work in publicity and publications . I think, now, however, that we ought to be thinking in terms of a br oader concept of work which will concern itself also with those developments which have to do with the alumni affairs and gifts and donations to the development of the College . It is my opinion that we have now reached the state in the development of Eastern that we should begin in a systematic way to ask our alumni and friends to contribute toward the continued develop- ment of the College. 11 I The Board then held a general discussion of various aspects of college development. Dr. Todd discussed certai n tax advantages of gifts to educational institutions. Mr. Clay stated tha t public institutions have a more difficult time in obtaining gifts and perhaps could concentrate to a better advantage for aid to students. Motion was then made by Mr. Wi lson Palmer that the recommendation of the President naming Mr. Feltner as Coordinator of Development be approved by the Board . Motion was then seconded by Mr. Sidney w. Clay and approved by the Board unanimously. PRESIDENT ' S STATEMENT TO THE BOARD OF REGENTS President Martin then ma.de th e following report to tre Board: "At our first meeting in the new calendar year I think it is important that we look at s ome of the problems that we have faced during the last two I and one half years . It s eems to me tha t these problems fall in three categories: Facilities, Faculty and Educational Program. I want to discuss these three aspects of our program with the Board. "Facilities take on three aspects , namely, housing for students and faculty, classroom and instructional f a cilities and, deferred mai ntenance of our physical plant. �"We have seen the construction of Case Hall which is now rated to house 550 girls. During the second semester of this school year we will see the completion of McGregor Hall with facilities to house 448 girls . In Burnam Hall we have seen a complete renovation of so - called New Burnam and we have gained 50 beds through utilization of the ground floor of this building." "For men, we have seen the completion of Mattox Hall with a capacity I of 204 beds, Martin Hal l with a capacity of 404 beds and early this spring we will see the completion of Combs Hall with a capacity of 238 beds. "During this year, we have completely renovated Stateland Hall so that t his building will be a serviceable building for the foreseeable future. In addition to the enlarged apartment, occupied by our Jack Adams, our Assistant Basketball Coach, we have spaces for 27 boys . in the remodeling of this buildi ng shower facilities. We also provided Prior to thi s the boys found it neces sary to go to the Weaver Health Building for bathing purposes . In addition, this building has been tuckpointed and painted outside. ''Miller and Beckham and McCreary Halls were thoroughly renovated during the summer of 1961 and 49 additional beds were secured on the I ground floor of these buildings . "For married students we have provided kept full constantly. 144 apartments which are In addition, the relocated trailer park is still not very attractive but so far as I have been able to determine, no one has yet developed an attractive trailer park except at an exorbitant expense . "During the last 30 months we have constructed the Donovan Building which hou ses the Laboratory School, the Gibson Addition to the Fitzpatrick Arts Building and currently have under construction the Alumni Coliseum and the Van Peursem Music Pavilion. The Music Pavilion will be completed before too long and it is our fervent hope that nothing nrevents us from completing the Alumni Coliseum in time for the June commencerent exercises. ''We have been very fortunate to have a completely renovated Cammack Building and University Building which were vacated by the Laboratory School and are now used for college classes . "The Stephen Collins Foster Music Building was air- conditioned . The Keen Johnson Student Union Building was, for the main part, airconditioned and greatly improved in many ways . I �- 3 ).1 "At the death of Mrs . Turley, the College was fortunate to be able to purchase the Turley House which has been renovated and remodeled and now houses the Home Management Division of the Home Economics Department . 11 In the matter of physical education and recreational facilities , a new practice football field has been provided with an all weather track and I adjacent hockey field has been constructed . "There was also a sizeable addition to the seating capacity of the Hanger Stadium. "We have seen the construction of six all weather tennis courts and three more are now under construction . "A magnificent parking area at the Coliseum is well on the way to completion and there will be very suitable places for other outdoor games between the parking area and the practice football field . 11 I think it is important to mention certain auxiliary buildings and utilities which have been greatly improved : "Our Heating Plant has been greatly improved with the additi on of a 45, 000 BTU/hr . capacity boiler and a new steam line has been I developed tying into most of the buildings now on the campus. "The construction of coal storage and coal handling equipment has completely mechanized the operation of the Heating Plant. "Currently, a new steam line is being run to the Alumni Coliseum. "We have seen the complete development of our primary lighting system on the campus connected in with the new sub-s tation constructed by the Kentucky Utilities Company. In addition , we have seen th: installation of mer cury vapor lights on our campus so that it is an attractive and well- lighted situation at night . 11 The engineers are now working on a new sewer line which will greatly improve our situtation in this manner. Roughly, the sewer l ine will run from the rear of O' Donnell Hall past the Alumni Coliseum to the City sewers at the entrance of Park Drive on South Second Street . I 11 The construction of the Ault Service Building and the outdoor park- ing area to house our maintenance and operational staff. "For the first time in the history of the institution, in my opinion, we have had an adequate and safe water supply. The construction of the new water tower in conjunction with the City of Richmond and the laying of new mains through the campus , has gre~tly improved this utility for us . �- 3l..4 "We believe we have been able to greatly improve the sidewalks t hr ough the cons truction of new sidewalks as well as the widening of certain existing sidewalks . ''We have been able to construct many parking areas which we had not had before . I think one of the most attr active things that we have done has been the construction of the wall and sidewalk on Lancaster Avenue in f r ont of the Roark and Cammack Buildings . I "Since it was necessary to use a great deal of the college farm , we have been for tunate to be abl e to gain approximately 100 acr es of additional land . Fif ty-nine acres of this came through the pur - chase of the Baker proper ty and an additional 41 or 42 acr es came as a part of the Luxon property which we pur chased with the indus trial foundation . "In relocating the dairy barns, we have constructed a modern dair y center for the use of our Department of Agriculture . "Faculty - - We have seen a greatly expanded faculty . these figures before me and it is not e specially important. I do not have Suffice i t to say, however, that it will be ne cessary to continue to expand our faculty . It i s our hope that the budget which we present for your consid- er ation for 1963-64 will make it possible for us to have substantial salary increases . I In only this way can we secure the ser vices of the well- t r ained people that we need to develop our faculty here at East ern . Our salaries must be raised to attract other faculty members here and it is my opinion that incentives must be developed to cause our pr esent faculty to continue its training to a more acceptable level for college teach ing. We do not have sufficiently well- trained people . "One of the weaknessee that is very evident to us is the fact that we do not ha,!e on our faculty a large enough percentage of members who hold the earned doctorate or a level approaching the doctor ate . Our salary increases , in my opinion, must be used to a l ar ger degr ee t han in the past to urge our faculty members to get additional training . Al so, we must be willing to pay more substantial salaries to attr act better trained personnel to our staff. "Program Attention has been given to the evaluation of the educa- tional pr ogram here at Eastern . We are now worki ng in every way that occurs to us to get ourselves r eady for the beginni ng of an 18 month to two year self- study, looking forward toward the visitation of a committee I �- 3 ).9 f r om the National Council for the Accreditation of Tea cher Education in the fa ll of 1964 and a visitation fran a commmttee from the Southern Association of Col leges arrl Secondary Schools in the spring of 1965 . These two s elf- studies should provide us with guide lines for a gr eatly improved educational progr am . I It i s a gainst this backdrop of achievement and progress that I now report t o the Board on certai n current matters and make certain recorranendations . " FACULTY AND STAFF APPOINTMENTS President Martin recommended that the Board employ Mrs . Mary Mober ly Carrol l t o teach Home Economics at the semester . Laboratory School duri ng the second He stated that her work would begin approximately February 1 and would end on June 1 . President Martin recommended that for her services she would receive $2, 500. Pr esident Martin reported to the Board that Mrs . Emma Y. Case, Dean of Women Emer itus , had been teachi ng one class during the firs t semester but became ill in late October. He stated that since that time it has been necessary to ask Dr . Joe Howard I to complete her class duri ng the semester . President Martin recommended that Dr . Howard r eceive $200 for t his wor k . Pr esident Marti n repor ted that Mrs . Aimee Alexander, a staff member i n the Department of English , became ill and was hospitalized for a per iod of sever al weeks duri ng the first semester and that it was necessary to hire t anporar y t eachers to car ry on her work durin g the period of her illness. President Martin recommended that Mrs . Carl Woods receive $400 and Mrs . Paul Janz receive $100 for their services as substi tute teachers during the illness of Mr s . Alexander. It was then moved by Mr . Sidney W. Clay that the Board appr ove the recommendations of the President concerni ng faculty and st af f appointments . The motion was seconded by Dr. Russell I . Todd and when the roll was called the following voted "Aye ": I Mr. Clay Mr . Dupree Judge McGregor Mr . Palmer Dr. Todd Voting "Nay": None RESOLUTION ON THE DEATH OF MRS . BESSIE HARRIS GRIGGS Pr esident Martin made the following report to the Boar d: "We were all saddened on the East ern campus at the passing of Mrs. Gr iggs on December 18, 1962, at the Pattie A. Clay Infirmary. had been Infor mation Clerk at the College since 1929. Mrs. Grigg s Mrs . Griggs was one �- .330 of our conscientious employees . Eastern was her life and she will be long missed by those of us who knew her and l oved her . I am recommend- ing that the Board of Regents now adopt the following resolution and spread it on minutes in her memory. I will also be glad to send it to her son, William H. Griggs, at Rochester , New York : I RESOLUTION ON THE DEA. TH ()F MRS. BESSIE HARRIS GRIGGS WHEREAS, on the 18th day of December, 1962, Mrs . Bessie Harris Griggs was taken by death at the age of 73, and WHEREAS, Mrs . Gr iggs served the college faithfully and well for a period of thirty- one years as Information Clerk and Switchboard Operator and part- time at the Information Office for two years until the time she became ill on December 10, and WHEREAS, she was pleasant and courteous in her association with students , faculty, townspeople , and visitor s , and WHEREAS , because her contacts as a former student at Eastern, a native of Richmond, and indefatigable worker in her church caused her to be a source of information for all who called on her, and I WHEREAS , she was always willing to go beyond the call of duty in her work; NOW, THEREFORE, BE IT RESOLVED: THAT we , the Board of Regents of Eastern Kentucky State Coll ege, hereby affirm our regret in the death of Mrs . Bessie Harris Griggs, arrl because the college has suffered the loss of this l ong- time member of the Eastern family, THAT the Board of Regents now take this means of expressing our appreciation of the valuable services of Mrs . Griggs, and THAT this resolution be spread on the permanent minutes of the Board of Regents and a copy be sent to her son, William Harris Gr iggs, in Rochester, New Yor k. Signed s/ Dr. Russell I . Todd s Mr . Sidney 1,1. Clay /s/ Mr. F. L. Dupree /s/ Judge Thomas B. McGregor /s/ Mr. Wilson Palmer It was then moved by Dr . Russell I . Todd that the Board approve the resolution as recommended and affix their signatures to it. The motion was seconded by Mr. F. L. Dupree and approved by the Board unanimously. I �- 3 31 CONSTRUCT ION PROJECTS Fitzpatrick Arts Building President Martin made the following report to the Board of Regents : "The north wing of the Fitzpatrick Arts Building has developed some I cracked conditions in its foundation . With the approval of the Department of Finance , Mr. Edward Burrows of Watkins, Burrows and Mil ls was asked to give an engineering report on correcting this condition . Mr. Burrows has sug gested three methods of correcting the conditions: Method 1 calls for a Thiokol caulking of the cracks in the wall at an estimated cost of Method 2 $920 . calls for the removal and reconstruction of the existing foundation but it is estimated by the Hargett Construction Company that this would cost approximately $10,000 to accomplish. Method 3 calls for an underpinning of the existing foundation at an estimated cost of $5400. Mr. Burrows recommended that we adopt either Method 2 or 3. "When this report was reviewed by the engineering staff of the I Department of Finance, Mr . David H. Pritchett, Chief Engineer, recommended that we proceed with Method 3 at an approximate cost of $5LOO . 11 President Martin r ecommended to the Board of Regents that it authorize the expenditure of approximately $5400 from the residue of the monies available in the fund of the Student Union Building at the time of the renovation of that building to accomplish the work sugges~ed as Method 3. After full discussion it was moved by Mr . Sidney w. Clay that the Board accept the President ' s recolliTlendation and aoprove the expenditure of $5400 for recommended work on the Fitzpatrick Arts Building . The motion was seconded by Mr. Wilson Palmer and when the roll was called the following voted 11 Aye 11 : Mr. Clay Mr . Dupree Jud ge McGregor Mr . Palmer Dr . Todd I Voting "Nay": None Relocation of Tropical Huts The President made the following report to the Board : 11 The Board received from the government many temporary buildings at the close of World War II which were used in Veteran 's Village for �temporary housing of married students . "All of these buildings have now been demolished except four metal buildings or so-calJe d tropical huts . These buildings will last indefi - nitely if properly maintained and are large enough for two two- bedroom appartments or the four buildings would provide eight additional apartments for married students." President Martin recommended to the Board that it authorize the I relocation of these four buildings on the top of the hill at the end of the duplexes in Brockton. He stated that this location has been chosen because sewer, water, and light connections are immediately adjacent and may be provided without exorbitant expense . President Martin stated that he had been unable to obtain a reasonable estimate of the cost of relocating these buildings . He recommended that the work be done by the College maintenance staff and that the actual expense paid from the residue of funds available from the Johnson Student Union Building. Dr . Russell I . Todd moved that the Board authorize the relocation of these four buildings as recommended by the President and the work be done by the College maintenance staff and the actual expense paid fran funds available from the Johnson Student Union Building fund . The motion was seconded by Mr. F. L. Dupree and when the roll was called the follow- I ing voted "Aye": Mr. Dupree Mr. Clay Judge McGregor Dr. Todd Mr. Palmer Voting Nay 11 : 11 None Development of playground at the Laboratory School President Martin made the follow t ng report to the Board : "The area between the Laboratory School and the new by- pass highway has been a swamp. "We placed large tile there and through the construction of the parking lot and other projects, a great deal of material has been used as filler . I am recommending that we ask the architects to direct eontractors in new construction pr ojects to place all excess material, suitable for fill, in this area . "It is my opinion that for two to three thousand dollars we can bring in additional fill and complete this area in a way that will be quite usable for a playground for the Laboratory School . I �- . 333 "I am asking authority from the Boar d for permission to proceed with the completion of this project as soon as we have secured all the fill that is possible to secure on a gratis basis . " After discussion it was moved by Dr . Todd that the President be given authority to proceed with the completion of a playground for the Laborator y I School . Motion was seconded by Mr. Wilson Palmer , and upon the ro ll being called the following voted 11 Aye 11 : Mr. Clay Mr. Dupree Judge McGregor Mr . Palmer Dr . Todd Voting "Nay": None Completion of Kit Carson Drive The President made the following report to the Board : "The Board will recall that Kit Carson Drive is the name given to the new street which will run just east of the new Towers around the practice footbal l field to the new by-pass road . "I am asking authority from the Board of Regents to expend a reasonable I amount for the continued development of this road and the placing of the initial rock on it. This, in my opinion , would not be exorbitant . Perhaps i t could be done for approximately t wo or three thousand dollars and we can finance it from the unbudgeted balance ih- our t rust and agency fund . 11 Mr. F. L. Dupree moved that the Board give the President authority to expend a reasonable amount of money from the unbudgeted balance in the trust and agency fund for the continued development of Kit Carson Dr ive . The motion was seconded by Dr . Russell I . Todd and when the roll was called the following members voted "Aye": Mr . Dupree Mr. Clay Judge McGregor Mr. Palmer Dr. Todd Voting I 11 Nay 11 : None Completion of bleachers for Hanger Stadium President Martin requested that the Board authorize the pur chase of enough steel and wooden bleachers to comple t e the installation on the north side of Hanger Stadium. He stated that this item would be set up in the 1963-64 budget but requested author ization at the present time so that the bleachers could be ordered in time for deliver y during July and August . �Mr. Wilson Palmer moved that the Board authorize the pur chase of these bleachers . Motion was seconded by Mr. Sidney W. Clay and upon the roll being called the following voted "Aye": Mr. Clay Mr. Dupree Judge McGregor Mr. Palmer I Dr. Todd Voting "Nay": None MEMBERSHIP IN STATE SCHOOL BOARDS ASSOCIATI ON President Martin reported that the colleges have been invited to join the Kentucky School Boar ds Association at an annual cost for dues of $25 . He stated that two or three years ago the colleges were asked to join but at that time decided they would not join . He added that now it is the opinion of all the colleges that they should all be member s of the Kentucky School Boa r ds Association. President Martin recommended that the Board of Regents approve membership for the College in the Kentucky School Boards Association . Mr. F . L. Dupree moved that ~he President's recommendation be appr oved . Motion was seconded by Mr. Sidney W. Clay and upon the roll being called the following members voted "Aye": I Mr. Clay Mr. Dupree Judge McGregor Mr. Palmer Dr. Todd Voting "Nay": ( None RENTAL OF COLIEGE FACILITIES President Martin reported that he had received on November 12 the following memorandum from J.C . Powell, Dean of Business Affairs, concerning the rental of College facilities: "From time to time , outside gr oups request the use of certain college facilities for purposes not related to the pr ogrJJn of the college . prior years , rental rates have been charged for such use . In In view of our increasing costs of utilities, custodial care and maintenance of these facilities, it seems that the rental rates should be reviewed and increased to meet these increas ing costs . "Accordingly, I recommend approval of the following rates for rental of specific facilities : I �Hanger Stadium Weaver Health Building Gym Hir am Brock Auditorium Alumni Coliseum "Turkey" Hughes Baseball Field Walnut Hall Student Union Building Ballr oom Lit tle Tl-ieater I $ 50 day 100 night 75 75 500 25 35 50 25 "The conditions for rental of all facili.ties shall i.nclude : 1. The renting agency shall employ, pay and assume responsibilities for all employees needed to carry on a function in the rented facility. 2. The r enting agency shall assume full liability i n connection with the use of the facility and for the acts of its employees and agents . 3. The renting agency shall reimburse the college for any damage to a facility , ordinary wear and tear expected . 11 I Spe cial conditions for Fental of Hanger Stadium shall include: 1. The renting a~ency shall have use of stadium, football field , scoreboard, public address system, concession areas, and two dressing rooms in the Weaver Health Building. 2. The renting agency shall clean all facilities pro vided for their use after the game . 3. The rental agreement shall be subject to cancellation whenever weather conditions are such, in the opinion of the college offtcials, that undue damage would be done to the field by its use for a football game . "Special conditions for the use of the Weaver Health Building and the Alumni Coliseum: 1. The renting agency shall have use of only the playing arena, two dressing rooms, concess ion areas, such public areas as are appurtenant to the playing arena , and the electric score board and public address system. 2. The renting agency shall clean all facilities provided for their use after the game or event. Other considerations "Facilities shall not be rented for use in the promotion of partisan polit ical activities, for the conduct of denominational I religious ser- vices or to individuals or organizations promoting events for personal profit. Use of a college facility may be refused to any individual, or ganization or group when the proposed use is, in the opinion of the Pr esident, contrary to the best interest of the college . "Further, the rental rate or other restrictions may be waived or reduced, upon approval of the President, for a proposed activity which would be of benefit to the program of the college . "These rental rates would be effective July 1, 1963 . 11 �President Martin recommended the approval of the recommendations which have been made by the Dean of Business Affairs . After full discussion Dr. Russell I . Todd moved that the recommendations concerni ng the rental of college facilities be approved. The motion was seconded by Mr. F. L. Dupree and approved by the Board unani- I mously . CREMATION OF BONDS Pr esident Martin reported to the Board that on November 16 he received the following memorandum from J.C . Powell, De an of Business Affairs, concerning the cremation of Bonds : "Pursuant to direction of the Board of Regents, Mr. Spear s Turley, Treasurer of the Board of Regents, and I witnessed the cremation of the following bonds issued by the Board of Regents,Eastern Kentucky State College: $ 393 ,000 1 , 900,000 Dormitory Revenue Bonds of 1957 Student Housing Bonds of 1960 "I have placed copies of the cremation certificate for these bonds in the Board of Regents file . "In preparation for the cremation of the afore - mentioned bonds, it I was called to my attention that the State Bank and Trust has in its vault certain other bonds issued by the Board of Regents which have been paid or cancelled and all of the coupons f r om these issues . Mr. Turley is prepared to present these bonds to the Board of Regents f or cremation or other disposal . The bonds are : AMa.JNT $35 ,000 68 , 000 228, 000 38,000 12, 000 ISSUE Dormitory Revenue Refunding Bonds of 1945 Library Revenue B0 nds of 1934 Buil ding Revenue Refunding Bonds of 1945 Building Revenue Bonds of 1938 Dormitory Revenue Bonds of 1940 ''Mr. Turley informed me that the State Bank and Trust Company also is holding sixty-six bonds numbers 535 to 600 inclusive, which were redeemed June 1, 1959, with coupons attached. These were the bonds called from the O' Donnell Hall issue with special monies in the construction fund . 11 0n the advice of Mr. Spears Turley, President and Trust Officer of the State Bank and Trustee for these issues, I recommend that the Bo.rd of Regents authorize the cremation of these bonds together with redeemed coupons . If the Board so desires, Mr. Turley and I would be very glad to I �- 3 37 carry out the directive of the Board in this matter . 11 President Martin stated that he concurred in the recommendation of Mr. Powell and recomnended to the Board that these bonds be cremated together with redeemed coupons . Motion was made by Mr. Sidney W. Cl~ that the President 's recommenda- I tion be approved. the Board Motion wa s seconded by Mr. Wilson Palmer and apnroved by unanimously . COLLEGt PROPERTY I:~SURANCE President Martin stated that he wished to make available for the information of the Board the schedules for insurance on College property. He stated that he hoped the Board could give study to these schedules so that the insur ance program of the College could be discussed in detail when the Board reconvened at its adjourned meeting . President Martin then presented the following statement of informati on which he stated had been prepared by Mr . G. M. Brock , Comptroller , concerning the insurance of College property : "Attached are two schedules of insurance on college oroperty which you I requested, one covering the amortized property and the other the non- amortized buildings . The State Department of Insurance carries insurance on two separate schedules, as you probably know. "The numbers indicated opposite certain pieces of property, along the left margin of the schedule, are the identifying numbers assigned to these pieces of property by the Department of Insurance and the Kentucky Inspection Service on an old map issued several years ago by the Department of Insurance . The buildings which do not have this identifying number are not on the map now being used by the Department of Insurance . 11 The amounts appea!·ing on these schedules are the amounts of insurance currently carried on these buildings . "There is also attached a schedule of rent value insurance which has been requested by the H. H. F. A. I EASTERN KENTUCKY STATE COLLEGE RICHMOND, KtNTUCKY INSURANCE - FIRE & EXTENDED COVERAGE - 1962- 63 AMORTIZED PROPIBTY No . Description Amount of Insurance 4 Miller Hall Contents 122, 300 8 , 000 �No. Description Amount of Insur ance 5 Beckham Hall Contents 189, 000 15, 000 6 McCreary Hall Contents ll5 , 000 7, 200 Johnson Student Union Building Contents 709,700 10 65, 000 11 Burnam Hall Contents 32 Stateland Hall Content s 20 , 000 4, 000 43 Two Dairy Barns (in new location) moved to new dairy center Contents - excluding feed 22 , 000 New Dairy Center Content s - excluding feed 50,000 4, 300 Bond House Contents 10, 000 58 57 801,700 30, 000 (Faculty Dwelling) 500 -0- Men I s Dormitory ( 1954) Keith Hall Contents 489,000 21, 000 Music Buildi ng Contents 464,200 48 , 000 59 O'Donnell Hall Contents 502, 500 15,000 25 Turley House Contents Mattox Hall Contents 70, 000 5, ooo 505, 200 I 20, 900 Donovan Laboratory School Contents 1 , 200, 000 Martin Hall Contents 1, 113, 000 81 , 0(X) Case Hall Contents I 60, 000 1,356,000 50, 000 BROCKTON - MARRIED STUDENT HOUSING 16 Duplex Houses@ 16,000 each 16 Duplex Houses contents 400 each 256, ooo 64, 000 6 Apartment Buildings@ 61,000 each (12 Apartments per building) 366 ,000 6 Apartment Buildings Contents@ 7,200 (12 Apartments per building) 5 Apartment Buildings @ 41,200 each (8 Apartments per building) 5 Apartment Buildings Contents@ 4, 800 (8 Apartments per building) Utility Building (Laundry) 43,200 206, 000 24, 000 15, 000 I �- ..339 INSURANCE - FIRE & EXTENDED COVERAGE - 1962- 63 NON- AMCRTIZED PROPERTY DESCRIPTION AMOUNT OF INSURANCE 1 Administration Bldg. & Auditorium Contents 489, JOO 21,300 2 & 2A Science Bldg. & Roark Bldg. Contents 909,100 2.s,000 3 Cammack Building Contents 3.50 , 000 18, 000 8 University Building Contents 32.5,000 1.5,000 9 Library Building Contents 291,000 50 , 000 Sullivan Hall and Annex Contents 477 ,ooo Fitzpatrick Arts Bldg. & Gibson Building Addition Contents 222,400 300,000 75, 000 NO. I 12 & 13 14 Ault Service Building Contents I 200,000 7.5, 000 1.5 Heating Plant - including fixed equipment Contents - movable equipment 24 Telford Hall Men's Dormitory Contents 15, 000 2, 500 28 President I s Home Contents 63,000 6 , .500 21 President's Garage 31 Weaver Health Building - including gymnasium seating Contents 3.50, 700 4, .500 J , 250 431,000 15,500 Farm Manager 's Residence Contents 3, 500 44 Milk House - Brick (old pasteurizing plant) Contents 2, 000 500 .50 Hanger Stadium Contents 26 Engineer ' s Residence Contents 7, 000 500 27 Farris House Contents 6,000 - 0- 62 Lynn House (Faculty Residence) Contents 53 Faculty Residence - 104 Park Drive Contents .5,000 - 0- 55 Faculty Residence - 102 Park Drive Contents 9, 000 - 0- 41 I 21, 000 - 0- 10,000 4,200 12,000 - 0- �- 3 40 AMOUNT OF INSURANCE NO . DESCRIPTION 54 Faculty Residence - 103 Park Drive Contents 6, 000 - 0- 56 Faculty Reside nce - 101 Park Drive Contents 12,000 70 71 -0- 4 Steel Tr opical Huts@ 2, 375 Contents 9,500 - 0- ROTC Rifle Range - 2 adjoining quonset type steel buildings 5, 000 1 Two room prefab dwelling (moved to new site at Dair y Center) Contents I 450 200 FA.~M PROPERTY LOCATED ON LANCASTER ROAD Frame Residence - Baker Farm 10,000 Tobacco Barn - Baker Fann 10, 000 Small Stock Barn - Baker Farm 2, 000 Rufus Br own Property Dwelling (Concrete Block) 20, 000 Floater - Feed (While contained in any ouilding) 3, 500 I SCHEIULE OF RENT VALUE INSURANCE ON HOUSING FACILITIES REQUESTED BY FEDERAL HOUSING AND HOM:i!: FINANCE AGENCY, AND NOW IN EFFECT ON THE FOLLOt!ING BUILDINGS: Buildings Use & Occupancy (Rent Value) Beckham Hall -0- McCreary Hall -0- Mill er Hall - 0- 0 'Donnell Hall 21, 000 Mattox Hall 21, 000 Martin Hall 42 , 000 Stateland Hall -0- Burnam Hall -0- Case Ha11 50, 000 Turl ey House - 0- Bond House - 0- Married Student Housing : Six 12- family apts. Five 8-family apts . Sixteen duplex apts. 28, 800 25 , 000 12,800 66, 600 66 , 600 (end of quote) I �- 3 11 RJRCHASE OF BROWN PROPERTY President Martin made the following report to the Board of Regents: "The property of Rufus Brown on the Lancaster Road (actually a corner of the Baker Fann) has been purchased by the Department of Finance for the use and benefit of the College . I The purchase price was $29, 200 . appears, on the face of it, to be perhaps greater than its This value but we were advised that there was a fir m offer of $29,000 for the purchase of t hi s property for business purposes . We think ~hat the house can be used either for housing such as t he Lancaster House or can be made in t o four or five apartments for married students . The College is now in a position to protect itself against this property being used for other pruposes and also of course , can realize some income from the rental of it. 11 USE OF THE PRESIDENT ' S SEAL President Martin stated that at the time of his installation in November , 1960, a President's seal was developed . He added that it is a very attractive seal and is used on official occasions at the College. President Martin stated that while it was not his intention to I recommend to the Board that the official seal of the College be changed he did believe that the President's seal, slightly modified, could have many unofficial uses . President Martin stated that he would like to get the Board ' s reaction to this unofficial use of the seal on certain of the vehicles of the College as well as for other unofficial purposes . The President ' s seal was displayed before the Beard and President Martin stated that a possible modification would be to substitute "Founded in 1906 11 for the words "President ' s Seal . 11 It was then moved by Dr. Russell I . Tod d that the Board declare it agreement for use of a modified President ' s Seal for unofficial College uses . Motion was seconded by Mr . F. L. Dupr~e and approved by the Board unanimously. USE OF SULLIVAN HALL FDR BOYS IN 1963 I President Martin made the following report to the Board of Regents : "It now appears that our enrollment will be such that it will te necessary that we house boys in Sullivan Hall during 1963- 64 . This has been brought about by the fact that ou r enrollment for boys is growing much more rapidly than for girls, together with the fact that we have provided approxi mately 1 , 000 beds for girls and currently we have been able to provide 838 beds for boys. It is our expectation that this will be necessary during �the next school year only as we hoDe that the Towers will be ready for occupancy in the fall of 1964 . 11 President Martin recommended that the Board approve the use of Sullivan Hall for boys in 1963- 64 . It was moved oy Mr . Wilson Palmer that the Board approve the President ' s recommendation. Upon second by Mr . Sidney W. Clay, the Board approved the motion unanimously. I PURCHASE OF CRUISER FOR SEGUR ITY FORCE President Martin made the following report to the Board of Regents : "Two years ago we were able to secure for our Security Force a used cruiser from the Department of Public Safe~y. We secured what appeared to be a good automobile for approxjJTia tely $600 but has turned out to be a headache and has necessitated an expense of $600 or more in repair . "I am asking approval of the Board of Regents for the purchase of a new cruiser for the use of the Security For ce . penditure of the College . This is a normal ex- I am not advised as to wha~ the cruiser will cost but I think it is significant that we have now secured the station wagon to be assigned under the direction of the Business Office . The list price on the vehicle was approximately $3800 ($3790) and we were able to purchase it on bids at approximately $2700 ($2669 . 91 ) . 11 I It was then moved by Mr. Sidney W. Clay that the Board approve the purchase of a new cruiser for the Campus Security Force . The motion was seconded by Dr. Russell I . Todd and when the roll was called the following voted "Aye" : Mr. Clay Mr. Dupree Judge McGregor Mr . Palmer Dr. Todd Voting 11 Nay 11 : None REMOVAL OF LIGHT POLE AND GUY WIRES President Martin reported to the Board that three or four unattractive light poles and guy wires have been placed in front of the tennis courts and Combs Hall. He stated that the most unattractive of these, the one in front of Combs Hall, appears to be necessary si nce the overhead traffic lights are placed on it, but that these lights could be placed on posts on either side of the road . President Martin requested the Board's reaction to this matter so that he might have the sanction of the Board in negotiating with the I �... 340 Highway Department and the Kentucky Utility Company for removal of these poles which mar the beauty on the front of the campus . It was then moved by Mr . F. L. Dupree that the President be given the authority to act on behalf of the Board in ne gotiating with the Highway Department and Kentucky Utility Comnany for the removal of these poles if I possible . Motion was seconded by Dr. Russell I . Todd and approved by the Board unanimous ly. EMPLOYM1NT OF ARCHITECT FOR RENOVATION OF THE ADMINISTRATION BUILDING President Martin made the following report to the Board of Regents : "The Coates Administration Building was constructed near the end of the administration of President Coates and the Hiram Brock Auditorium wa s added in the first part of Dr. Donovan ' s administration. Nothing substan- tia l has be~n done to this building since that time in the way of remodeling or renovation . " I am asking the Board of Regents for the authority to recommend to the Commissioner of Finance the employment of Brock and Johnson, Architects, to develop program and plans for the renovati on and remodeling of this I building. "It is my opinion that a thorough renova ti.on should be done of the entire building but at least the three following items should be accomplished through remodeling : 1. Air- conditioning of the entire building . This air- conditioning should be planned in its entirety although the auditorium might be air-conditioned at a later date . 2. A complete remodeling of the space on the ground floor of the building including the development of the space underneath the auditorium . This developed space would house : I A. Att ractive offices for the Extension Divis ion, the Division of Publicity and Publications and the Division of Alumni Affairs . B. It would provide space for the college switchboard , the central mail room, the faculty mail room, central duplicating facilities , IBM equipment, and a concession room . C. A central filing room for the administrative offices of the college . D. The necessary janitorial space would be maintained as well as space to be used for ~he location of the air- conditioning equipment. 3. The composition floors in the halls which have proven unsatisfactory over the years , should be replaced by an inexpensive tera zzo Iloor. 4. Toilet facilities should be thoroughly renovated . 5. Lighting system should be thoroughly modernized . The President then stated that the funds for t his project would have �to come from State Appr opriation or some similar sour ce . He further stated that after planning , certain of the work could be begun by our own maintenance department . It was then moved by Dr . Russell I . Todd that the Board grant the President authority to recommend the employment of Br ock and Johnson , Architects , to the Commissioner of Finance and that the a r chitects be instructed to develop progr ams and plans for the renovation and r emodeling of the Coates Administration Building along the lines outlined by Pr esident Martin . I The motion was seconded by Mr. Sidney W. Clay and approved by the Board unanimously. APPLICATION FOR TWO ADJ ,ITIONAL DORMITORU.,S AND ADDITIONAL FACULTY HOUSIOO President Martin made the following report to the Board of Regents : "Since there are many months which elapse between the ini tial application for additional housing and the necessary governmental red tape which must be met , I think it is per tinent now that we make appl i cat ion for approv al for financing by the Housing and Home Finance Agency for the construction of Women ' s Donnitor y #4 to be located in the rear of Burnam Hall and to house 324 girls . In fact , plans have already been developed for this dormitory but cannot be used at this time si nc e it was decided to constr uct the two men ' s halls first ; Men ' s Dormitory #7 I which would house approximately 400 men ; and the faculty housing #2 t o consist of an apartment building similar to the faculty housing #1 and a series of single and duplex units to be constructed in the area of the present faculty apartment building. 11 President Martin then recoHanended to the Board of Regents that they authorize him as President to make ap plication to the Housing and Home Finance Agency for loan assistance in the construction of Women 's Dormitory #4, Men ' s Dormitor y #7, and additional Faculty Housi ng, arrl take all necessary steps to execute the necessary for ms r equir ed in the process ing of this application . Mr. Sidney W. Clay moved that the President ' s re commendation be approved by the Board . The motion was seconded by Mr. Wilson Palmer and when the roll was called the followi ng voted Mr . Clay Mr. Dupree Judge McGregor Mr . Palmer Dr . Todd Voting "Nay" : None 11 Aye ": I �BONDED INDEBTEDNESS Pr esident Martin then s ubmitted to the Board a repor t of the curr ent bonded indebtedness of the Coll ege : OUTSTANDING BOND IS SUES January 9, 1963 I I. EDUCATIOJAL BUILDING ISSUE A. B. C. Consol idated Educational Revenue Bonds , Ser ies A, (Fiscal 1961) OUTSTANDING AMOUNT BUILDINGS $325, 000 $ 258 , ooo Music Building 2, 000 , 000 Consolidated Educational Revenue Bonds , Series B, (Fiscal 1963) $3,500, 000 1 , 965, 000 $J , 500,000 Donovan Building Gibson Bui lding Alumni Coliseum Recons true tion of Johnson Stu dent Union Bldg . Dairy Center Coliseum Parl<. ing Lot Sports Field HOOSING II . I Music Building Revenue Bonds of 1955 ORIGINAL AMOUNT A. Dormitor y Revenue Bonds of 1954 450, 000 352 , 000 Keith Hall Renovati on of Sullivan Hall B. Donnitory Bonds of 1957 600, 0001 112 , 000 O' Donnell Hall C. Ccnso lida ted Housing Sys tem Revenue Bonds of 1962 1 8, H55,ooo2 8, 855 , 000 Series A-$393, 000 O' Donnell Hall Series B-$1, 900, 000 Case arrl Mattox Halls, Br ockton Series C-$3 , 375 , 000 Martin, Case Addi tion and Br ocktcn Addition Series D- $3 , 187, 000 Combs and McGregor Halls, Faculty Apts . Bonds for $393 , 000 of this issue were exchanged for the same amount of bonds identified as Consolidated Housing System Revenue Bonds, Series A 2 Includes $5, 668, 000 in bonds previously issued and $3, 187 , 000 to be sold I President Martin then made the following general comments concerning this report : "All dormitory projects are closely supervised by the Housing and Home Finance Agency in Atlanta and Washington, D. C. The Housing and Home Finance Agency requires us to show projected revenues that will equal 1 . 35 times the average annual debt service required by the issue . The revenue �- 3-'l-lo used for this coverage are net revenues, having been reduced frcm the gross anticipated rental by a ten percent (10%) vacancy credit and a maintenance and operation allowance of $50 per bed and $150 per apartment . This vacancy credit is required even though we now have three (3) students housed in most rooms designed for occupancy by two (2) students . "The following table of ni.nth grade enrollment in the secondary schools of Kentucky gives an indication of the trend of future college I enrollment : APPRO\IMATE NINTH GRADE ENROLLMENT YEAR 1958- 59 1959- 60 1960- 61 1961- 62 45,ooo 45, 000 55, 000 61 , 000 "This clear ly indicates that "war babies" will soon be in our college dormitories and we must prepare for the onslaught of college enrollment. "Another fact that will add to our enrollment relates to out-ofstate enrollments . Last fall we turned away 410 out - of- state students who applied to us for admission . Currently, Eastern has the smallest percent of out - of-state enrollments of any college in Kentucky, the percent being about five or six percent . I I am conviced that our college would benefit from a somewhat higher per cent of out- of- state enrollments . This would have the effect of making our college more cosmopolitan . "To help prepare for these increased enrollments I have in mind a third bond issue for educational buildings . This year we do not have enough class rooms for our academic program . The same situation will obtain next year . "The Commonwealth of Kentucky has permitted us to use student registration fees for the amortization of these bonds . The student registra- tion fees not used for this purpose will be subtracted from the anticipated financial needs of the college in determining the state appropriation. Therefore , failing to take advantage of the use of student fees for bond issues means solely that we are depriving ourselves of needed facilities . "The Consolidated Educational Buildine;s Revenue Bonds are being well received by the bonding company. Further, the Housing and Home Finance Agency and the various bond dealers are extremely good safeguards in insuring that we do not over extend ourselves in incurring bond indebtedness. 11 I �A general discussion of this report then followed . Mr . Dupree stated that as he understood it, the housing program was intended to bring in students from off campus and provide them with housing at a more reasonable rate . President Martin stated that in general he was trying to get the campus up in shape so that attention could be turned to staff and program. I Mr. Dupree pointed out that every bond issue by the college was secured either by student fees or by revenue from rental rates . A POSSIBLE LOCATION FOR STATE POLICE BARRACKS President Mar tin detailed for the Board the effect of Interstate High way 75 upon the campus . He explained that in hi s opinion the completion of I - 75 would place Eastern within easy driving distance of major population centers both to the north and south of Richmond . He stated that the State Police are seeking a location for a barracks in the Richmond area . The President said that he had approached Commissi Jner Lovern concerning his interest in the location of the barracks on the by-pass road which passes through the campus . He stated that in his opinion the barracks would require from three - fourths (3/4) to one acre of land for this purpose . I He further stated that he believed that the location of this barracks near the entrance to the Coliseum on the by-pass road would be a very fine thing . President Martin stated that he felt that the presence of State Police on the campus would have a good effect and further that the State Police would be available to help us with traffic control and other police matters . He stated further that this would be a very good location for the State Police . President Martin then requested the Board authorize him to continue negotiating with Commissioner Lovern in this matter reporting to the Board from time to time on the progress of his negotiations. It was then moved by Dr. Rus~ell I . Todd that the President be authorized to continue these negotiations . I The motion was seconded by Mr. Wilson Palmer and approved by the Board unanimously. ISSUANCE OF HOUSING SYSTD' REVENUE BONDS OF 1962, SERIES D Mr. C. W. Grafton and Miss LilJian M. Fleischer, members of the law firm of Grafton, Ferguson and Fleischer, employed by the College in connection with the proposed authorization and issuance of the Board ' s $3,187 , 000 "Housing System Revenue Bonds of 1962, Series D," were then asked to join the meeting and the President requested that Bond Counsel take the floor, explain in general terms the business proposed to be transacted, and tender �- 3 18 for examination and consideration by the Board such instruments and documents as were r eady for submission. Mr. Grafton then made a presentation, which is summarized , as follows : (1) By Resolutions adopted at a meeting held on April 18 , 1962, the Board of Regents approved the Loan Agreement tender ed by Housing and Home Finance Agency of the United States (HHFA) and identified by it as Project CH-Ky-52(D) , and in accordance with the terms and provisions thereof (a) provided for the creation and establishment of a "Housing System" of the College, as hereinafter more fully set forth ; (b) authorized the issuance of the Board's $5 , 668, 000 "Housing System Revenue Bonds of 1962 , Series A, Series B, and Series C11 ; (c) author ized the delivery of the Series A Bonds and the Series B Bonds to HHFA upon surrender of outstanding Bonds of the Board held by HHFA in corresponding prindpal amounts and bearing interest at the same rates ; and (d) authorized the offering of the Series C Bonds at public sale. I (2) The Series C Bonds were publicly sold at a meeting of the Board on May 16, 1962, a port ion thereof being awarded to John Nuveen & Co . and The Bankers Bond Co ., and the remainder to HHFA . (3) On June 28, 1962, the Series C Bonds were delivered to the respective purchasers thereof and simultaneously the exchange of Series A Bonds and Series B Bonds, as above set forth, was effected . Thereupon the "Housing System" became effectively created and established , initially consisting of (a) the existing dormitory for men, known as O'Donnell Hall (constructed under HHFA Project Ky- 15- CH- 25(D)) , subject to the prior statutory mortgage lien, the prior pledge of rentals , and the prior pledge of the incidental (registration) fees of the student occupants thereof to the amount of $38 . 00 per student for each semester of the regular term of two semesters, and $1Y. OO for the regular summer session, until such t ime as Bonds numbered 20 to 141, inclusive , of the Ser ies of "Dormitory Bonds of 1957 , " aggregating $122, 000 and outstanding in the hands of private investors, shall have been oaid or fully provided for by sett-ing aside funds in the hands of the 1957 Trustee; and thereafter the rentals, together with t-he same amount of the incidental (registration) fees of the student occupants to continue under pledge as a part of the security and source of payment of the "Housing System Revenue Borns of 1962 11 ; (b) the existing housing and dining facilities financed and constructed under HHFA Project Ky-15- CH-34(D) , these being Mattox Hall and the snack bar operated therein, Case Hall, and eleven apartment buildings f or married student families, now known as Brockton ; as to which there will no longer be a pledge of the incidental (registration) fees of student occupants, exceot as to Mattox Hall, in connection with which there will continue t-o be a pledge of the incidental (registration) fees of student occupants to the amount of Thirty- five Dollars ($35 . 00) per student occupant for each of the two (2) semesters of the regular term, and Seventeen Dollars fifty cents ($17 . 50) for the regular summer session ; (c) the four existing dormitories for men known as Miller Hall, Beckham Hall, McCreary Hall and Stateland House ; (d) the existing dormitory for women known as Burnam Hall; (e) tne existing Home Economics r esidence for women known as Turley House; (f) the existing faculty residence known as Bond House ; (g) the existing dormitory for women known as the Case Hall Aidition together with the snack bar to be operated therein; the existing dormitory for men known as Martin Hall together with the I I �cafeter ia to be operated ther ein; the sixteen apartment build i ngs for marr i ed student families known as the Bro ckton Addition; all constructed under HHFA Pr oject CH - Ky- 52(D); (h) an agr eement on the part of the Board to add to the Housing Sys tem the existing dorn.ito r y known as Keith Hall; at such time as the indebt edness thereon has been paid in full . I I (4) In connection with all of the for egoing , the Board of Regents entered into a Trust Indenture with State Bank and Trust Company of Richmond , Kentucky, as Tr ustee , pr oviding for the secur ity of the Seri es A, Series B, and Series C Bonds ; providing for the disposition of the proceeds of the Series C Bonds ; and containing pled ges and covenants of the Board of Regents with reference to the disposition of the r evenues pledged as the sour ce of payment for such Bonds . In that Trust Indenture the Board of Regents reser ved the right t o add new housing f acilities and related auxiliar y f acilities including, int er alia, dining facilities , by the issuance of one or more additional series of Bonds secur ed by a parity lien on and ratably payable from the r evenues and other security initially pledged, upon cer tain condition s which may be briefly summari zed in substance (a) that such new housing and related facil i ties be made a part of the Housing System and the revenues derived therefr om be pledged as adc1 itional security for the par i ty bonds and the outst anding Bonds; (b) that up t o the time of each successive issuance of par ity bonds , the Boar d of Regents is in f ull compliance with its covenants and undertakings in connection with the outstanding Bonds ; and (c ) that there be a showing of revenues equal to at least one and thir ty- five one - hundr edths (1. 35) times t he aver age annual requirements for principal and inter e st on all Bonds . (5) As t o s uch parity bonds as might be issued in the indefinite fu tur e it is r e quir ed that the condition of 1 . 35 "coverage " of principal and interest r equirements be demonstrated in two separate r espects -fir st, that it be determined by an independent public accountant that the actual r evenues of the Housing System for the preceding fiscal year wer e at least equal to 1 . 35 times t he average annual requirements fo r pr incipal and interest on all Bonds then outstanding ; and second , that the estimated net revenues of the proposed new housing and r elated faci lities, when added to the actual revenues for the pr eceding fi s cal year would be equal to 1 . 35 times the average annual principal and interest r equirements on the outstanding Bonds and also the parity Bonds then proposed to be issued . (6 ) However , in view of the fact that the Board of Regents , at the time of the cr eation and establishment of the Housing System, already had pending befor e HHFA certain applications for loan commitments to finance housi ng and related facili t ies already demonstrated to be needed , the requirement of 1 . 35 times coverage was relaxed as aoplied to the projects r epresented by the pending applica tions , orovided that only the second element of computation be met , and without any requirement that the fir st element of computation be met . I (7) The Board of Regents has previously entered into another Loan Agr eement wit h HHFA, identified by HHFA as its Pr oject CH -Ky- 62(D) , Contr act No . H- 302- 842 , dated June 1 , 1962, in contempl ation of the construct ion and financing of a Pr oject (for convenience sometimes here inafter r eferred to simpl y as "Project 62(D) "), consisting of a new dormitor y , with thr ee supervisors apartments , to house approximately 446 women students ; a new dormitor y with supervisor ' s apartment and t wo f aculty apar tments , to house approximately 238 men students ; and a new apartment buildi ng to house approximatel y 8 faculty families; all wit h necessary appurtenant facilities . In order to finance the same the Loa n Agreement for Project 62(D) pr ovides for the Board ' s issuance of its $3 , 187, 000 "Eastern Ken tucky State College Housing System Revenue Bonds of 1962 , Series D," to be dat ed February 1, 1962 , and to mature ser ially in var ious amounts on February 1 i n each of the years 1 965 to 2002 , inclusive ; the same to be offered by the Board of Regents at an advertised , public , competitive sale at which pr iv ate investors may offer t o purchase designated blocks of Bonds separately or in any combinati on, and wi t h the guarantee of HHFA to submit a bid at the public s ale f or t he purchase of the entire issue (or any blocks not offered t o be pur chased by pr ivate inter ests) , at a singl e unifor m interest coupon r ate of three and three- eighths per cent (3 - 3/8%) per annum . It is a condition of the HHFA Loan Agr eement that if parties other t han t he �·- 350 Government should offer to purchase any block, or combination of blocks, or the entire Bond issue , at an average interest rate of three and three - eighths per cent (3- 3/8%) , or lower , than such block or blocks, or the entire Bond issue , must be awar ded thereon , and ~he HHFA purchase bid will cease to be effective as to such Bonds . (8) In order that these proposed Series D Bonds may rank on a basis of parity arxl equality as to security and source of payment wit h the previously issued Series A, Series B, and Series C Bonds, it i s necessary for t he Board of Regents to comply with the above -mentioned conditions , as the same are set forth in Section 7 . 03 of the existing Trust Indenture. In this connection it is required that computations of estimates of revenues be made by the chief financial officer of the Board and approved by the Boa~d and by the President of the College. After such computation has been submitted to and apnroved by the Board, the Board may join the aforesaid Trustee in the execution of a "Supplemental Trust Indenture " wherein the housing and related faci lities of Project 62(D) are declared to be parts of the Housing System , the revenues therefrom are pledged for the common security of parity Bonds and all outstanding Bonds, and the Series D Bonds are authorized to be issued . I (9) The chief financial officer of the Board has prepared and submitted his computation of estimated revenu es conforming to the requirements of Section 7 . 03 of the aforesaid Trust Indenture and the same has been anproved by the President of the College . (10) Bond Counsel has been instructed by the President of the College to anticipate an inclination on the part of the Board to comply with all oarity Bond requirements , authorize the Series D Bonds according to the provisions of the Loan Agreement for Project 62 (D) , and provide for a public sale thereof at an earl y date to be designated by the Board of Regents . Upon these instructions Bond Counsel had prepared and had submitted to each member of the Boa rd of Regents for advance examination the following instruments : (a) Bond Counsel ' s draft of a proposed Resolution of the Board authorizing the issuance of $3, 187 , 000 "Housing System Revenue Bonds of 1962, Series D", dated February 1 , 1962 , conforming to the specifications set forth in the Loan Agreement for HHFA Project CH-Ky - 62(D) ; I (b) "Notice of Sale of Bonds" for the public offering of the "Housing System Revenue Bonds of 1962 , SeriEs D"; (c) "Statement of Terms and Conditions of Bond Sale , 11 supplemental thereto ; (d) a "Supplemental Indenture" for execution on behalf of the Board with the same Trustee above mentioned to implement the addition of the buildings of Project 62(D) to the "Housing System." After Bond Counsel ' s presentation , the various instruments and documents so tendered to the Board were in succession read in full and made the subject of full discussion . Boar d Member Dupree moved immediate adoption of a pr oposed Resol ution , as follows , seconded by Board Member Clay: A RESOLUTION OF THr; BOARD OF REGENTS OF EASTERN KENTUCKY STATE COLLIDE, RICHMOND , KENTUCKY, PROVIDING FOR THE IS~1JANCE OF HOOSING SYSTEM REVENUE BONDS OF 1962, SERIES D; AND PROVIDING FOR A PUBLIC SALE OF SAID SERIES . WHEREAS, the Board is authorized by Section 162 . 340 , et seq., of the Kentucky Revised Statutes to erect buildings for educational purposes at Eastern Kentucky State College, Richmond, Kentucky, and to finance the I �- 351 costs thereof (to the extent not otherwise provided) through issuance of the Board's Revenue Bonds; and WHEREAS , the Board has heretofore established the "Housing System" of the College and has issued its $5 , 668,000 . 00 "Eastern Kentucky State College Haus i.ng System Revenue Bonds of 1962 , 11 consisting of Series A I Bonds in the principal amount of $393,000. 00 , Series B Borris in the principal amount of .n, 900,000 . 00 and Series C Bonds in the principal amount of $3,375,000 . 00 all as more particularly set forth in a certain "Trust Indenture" dated as of February 1, 1962, and made by the Board with State Bank and Trust Company of Richmooo, Kentucky, as Trustee (hereinafter for convenience sometimes referred to simply as the Trust Indenture) ; and WHEREAS, it is provided in Sections 7 . 02 and 7 . 0J of the Trust Irxienture that the Board may add new housing facilities and related auxiliary facilities including, inter alia, dining facilities, by the issuance of one or more additional series of said "Housing SystEm Revenue Bonds of 1962 11 , subject to certain conditions and restrictions; and more particularly in Section 7 . 0J of the Trust Indenture there are set forth the conditions and I restrictions apnlicable to such additional Bonds if issued on or before June JO , 1965; and the Board is prepared to show compliance with such ccnii tions and re strictions and to autnorize the issuance at this time of $3,187, 000 . 00 "Eastern Kentucky State College Housing System Revenue Bonds of 1962, 11 dated as of February 1 , 1962, for the pur pose of providing the cost ( to the extent not otherwise provided) of additional housing facilities as hereinafter more particularly described; and WHEREAS, the existing buildings uded for educational purposes at Eastern Kentucky State College at Richmond , Kentucky, are wholly inadequate and it has heretofore been determined to be necessary that certain housing facilities (hereinafter collectively referred to as "Project 62 (D) 11 ) be constructed on the camous of the College, the same consisting of a dormitory to I house approximately 446 women students with three supervisors' apartments, a do:nnitory to house approximately 238 men students with supervisor 's apartment and two faculty apartments; and an apartment building to house approximately 8 faculty families; all with necessary appurtenant facilities, the total cost of which is estimated to be in excess of $3,187,000 . 00 ; and WHEREAS, a portion of the cost of said Project 62(D) is to be paid from available funds, but it is necessary that additional funds be provided through the issuance of Revenue Bonds to the amount of Three Million One �.. 352. Hundred Eighty- seven Thousand Dollars ($3 , 187 , 000 .00) pursuant to Section 162 . 340, et seq . , of Kentucky Revised Stat utes ; NCM, THEREFDRE, THE BOARD OF REG~NTS OF EASTERN KENTUCKY STATE COLLEGE AT RICHMOND, KENTUCKY, HEREBY RK OLVES, AS FOLLOWS : Section 1 . That the c onstruction of Project 62(D) on the campus of Eastern Ken tucky State College according to the nlans and specifications heretofore prepar ed and approved is hereby declar ed necessary for educa- I tional purposes and is hereby in all respects ratified and confirmed. Section 2. In order to pay the cost of erecting said Project 62 (D) (not otherwise provided) , Housing System Revenue Bonds of 1962 , Series D, shall be and ar e hereoy ordered issued by the Board of Regents of said Eastern Kentucky State College in the aggregate principal amount of Thr ee Million One nundred Eighty-Seven Thousand Dollars ($J , 187,ooo. oo) , dated Februa1y 1 , 1962 , such Series D Bonds to bear interest at one or more rates averaging no greater than 3- 3/8% per annum as may be established by a supplemental resolution of the Board upon the basis of competit ion at public sale as hereinafter provided; all of such Series D 3onds to be offered at public sale as negotiable coupon Bonds , registrable as to principal only, in the denomination of $1, 000; but subject, nevertheless , I to issuance by the Board at the election of the purcha ser or purchasers in fully registered form ; and to oe in substantially the respective forms and in all r espects to conform to the specifications and details set forth in the Supnlemental Trust Indenture referred to in and s et out under Section J of this Resolution . Section 3. Said Bonds shall be issued pursuant and secured by a supolemental Tr ust Indenture between the Board of Regents of Easte rn Kentucky State College , party of the first oart, and State Band and Trust Company of Richmond , Kentucky, a banking corporation having corporate trust powers , organized and existing under and by vir tue of the laws of the Commonwealth of Kentucky, and having its principal office and place of business in the City of Richmond , Kentucky, par ty of the second part. The Chairman and Secretary of the Board of Regents are hereby author ized and directed to make, execute , and deliver such Supplemental Trust Indenture in substantially the form , text, terms , and provisions hereinafter set out , and this Board of Regents hereby approves , ratifies , and confirms all of the covenants , provisions, and stipulations as set out in such Supplemental Trust Indenture, to -wit : I �SUPPU.11ENTAL I'RU.)T INDENTUiIB SECURING EASTERN KENTUCKY STATE COLIEGE HOUSING SYSTEM REV'.cJ,J'UE Barns OF 1962, Dated as of February 1, 1962, I ISSUED BY BOARD OF REGENTS OF EASTERN KENTUCKY STATE COLLEG1, RICHMOND, KENTUCKY, CONSISTING OF SERIES A BONDS SERIES B BOODS SERIES C BONDS and SERI ES D BONDS $ 393 , 000 1,900, 000 3, 375 , 000 3,187 , 000 THIS TRUST INDEN1URE dated as of the firs t day of February, 1962, made by and between BOARD OF REGENTS OF EASTl!;RN KENTUCKY STATE COLLEGE, a body corporate, as an Educational Institution and Agency of the Commonwealth of Kentucky, at Richmond, Kentucky, (hereinafter sometimes called the "Board"), party of the first part, and STATE BANK AND TRUST COMPANY OF RICHMCND, KENI'UCKY, a banking corporation duly organized and existing according to the laws of I the Corrmonwealth of Kentucky, having full powers to act as a corporate Trustee, and having its principal office and place of business in the City of Richmond , County of Madison, Commonwealth of Kentucky, as Trustee , (hereinafter some times called the 11 Trustee") , party of the sacond part, WITNESS ETH: THAT WHEREAS, pursuant to Section 164 . 350 of the Kentucky Revised Statutes now in full force and effect, the Board is a oody corporate with all powers generally invested in corpora ~ions and as such is the governing body of Eastern Kentucky State College, an Educational Institution and Agency of the Commonwealth of Kentucky, having full control of the management and operation of said College together with the property and funds thereof; and I WHEREAS, pursuant to the provisions of Section 162 . 340, et . seq ,, of said Kentucky Revised Statutes , said Boa rd as the governing body of said State Educational Institution and Agency, is authorized to erect bu i ldings and appurtenances to be used in connection with said College for educational purposes, and to issue its revenue bonds, payable solely from the incane and revenues of such buildinvs; and WHEREAS, pursuant to such statutory authority , and l e gal and proper pro ceedings , the Board at a meeting held on April 18, 1962, provided for the �creation and establishment of a "Housing System " of Eastern Kentucky State College and authorized the issuance of its $5, 668, 000 "Eastern Kentucky State College Housing System Revenue Bonds of 1962 ," dated as of February 1, 1 962 , consisting of Series A Bonds in the orincipal amount of $393, 000, Series B Bonds in the principal amount of $1, 900,000, and Series C Bonds in the principal amount of $3 , 375, 000, all of which have been issued am. delivered; and I WHEREAS , in connection with the issuance of said Bonds, and in order to provide security to the holders thereof, the Board entered into a certain "Trust Indenture" with State Bank and Tr ust Company of Richmond , Kentucky, as Trustee, dated as of the 1st day of February, 1962 (hereinafter for convenience referred to as the "Trust Indenture") and it is provided in Sections 7 . 02 and 7 . 03 thereof that the right is reserved to the Board to add new housing facilities and related auxiliary facilities , including inter alia, dining facilities, by the issuance of one or more additional Series of Bonds to be secured by a parity lien on and ratably payable from the r evenues arrl any other security pledged in and by the Trust Indenture provided in each instance that compliance is made with certain conditions; and the conditions set forth in Section 7 . 03 of I Trust Indenture are applicable in the cases of additional parity bonds which may be issued on or before June 30 , 1965; and the Board is prepared to demonstrate compliance with all of said conditions as hereinafter more fully set forth ; and WHEREAS , the Board has determined that said College and its students are not at this time provided with adequate buildings and accommodations for educational purposes; and has determined that it is necessary to con struct a new dormito r y to house approximately 446 women students with three supervisors ' apartments; a new dormitory to house approximately 238 men students, with a supervisor ' s apartment and two faculty apartments ; am. a new apartment building to house approximately 8 faculty families , all with necessary appurtenant fac ilities, (hereinafter referred to in the aggregate simply as "Project 62(D) 11 ) , under construction upon sites which are parts of the campus of said College; and in order to defray the costs thereof (to the extent not otherwise pr ovided) it is necessary that the Board authorize and issue at this time its additional revenue bonds in the pr incipal sum of Three Million One Hundred Eighty- seven Thousarrl Dollars ($3 , 187 , 000 ); and I �- 355 WHEREAS, the Board has adopted an appropriate Resolution authorizing the issuance of Bonds, the same to be designated "Housing System Revenue Bonds of 1962, Series D", as hereinafter described and set forth, and has duly authorized the execution of this Supplemental Trust Indenture, in the form hereof, for the purpose of securing the payment thereof, and of the I Series A, Series B, and Series C Bonds, and the interest thereon, and to provide for the proper and orderly administration of the revenues of said System and of the proceeds of the Series D Bonds; and WHEREAS , the Bonds may be issued as coupon Bonds in the denomination of $1,000 each, or as one or more f ully registered Bonds without coupons in any denomination which is a multiple of $1, 000, or partly in one form and partly the other; and the coupon Bonds of said authorized issue , and the coupons appertaining thereto, and a Trustee's certificate with respect thereto, and provisions for the registration thereof as herein prescribed, are to be substantially in the following forms, with appropriate insertions, omissions and variations as in this Indenture provided or permitted : (FORM OF COOPON BOND) I UNITED STATES OF AMERICA CO!'J1CNWEALTH OF KENTUCKY 1ASTERN KJ:',NTUCKY STATE COLLEGE HOUSING SYSTEM REVENUE BOND OF 1962 SERIES D Number $1,000 The Board of Regents of Eastern Kentucky State College , a body corporate, as an Educational Institution and Agency of the Conmonwealth of Kentucky, at Richmond, Madison County, Kentucky, for value received, hereby promises to pay, solely from the special fund provided therefor as hereinafter set forth, to the bearer, or, if this Bond be registered, to the registered owner hereof, as hereinafter provided, the sum of One Thousand Dollars ($1,000) on the I first day of February, 19__ , and to pay, solely from said special fund , interest thereon from the date hereof until payrr~nt of principal at the rate of - ----- - - - -- %) per centum ( per annum, such interest being payable semiannually on February 1 and August 1 of each year , beginning August 1, 1962, except as the provisions hereinafter set forth with respect to prior redemption may be and become aon licable hereto, such interest as may accrue on and prior t,O the maturity date of this Bond to be paid only upon presentation and surrender of the annexed coupons as they severally �mature, both principal and interest being payable in any coin or currency which, on the respective dates of payment of such principal and interest, is legal tender for the payment of deots due the United States of America, at the principal office of the Trustee, STATE BANK AND TRUST COMP.AN., OF RICHMOND , KENTUCKY, in the City of Richmond, County of Madison, Corrmonwealth of Kentucky, or, at the option of the holder hereof or of the interest coupons hereunto appertaining, at the principal office of CHEMICAL BANK I NEW YORK TRUST COMPAN 1 , in the Borough of Manhattan, City of New York, State of New York . This Bond is one of a duly authoriz,ed issue of Bonds now in the aggregate principal amount of $8,855,000, consisting of Series A Bonds in the aggregate principal amount of $393,000, Series B Bonds in the aggregate principal amount of $1,900,000, Series C Bonds in the aggregate principal amount of $3,375,000, and Series D Bonds in the aggregate principal amount of $3,lb7,000, all of said Bonds being of the same tenor and effect (except fo r numbers, denominations, maturity dates, series designations, provisions with respect to redemption prior to maturity, and possible variati on in interest rates), issued for financing and refinancing the costs, not otherwise provided , of the Housing System of I said Eastern Kentucky State College, consisting of (a) initially, certain student housing facilities existing on the campus of said College in Richmond, Madison County , Kentucky, as particularly identified in the Trust Indenture hereinafter referred to, (b) a new dormitory to house approximately 446 women students, with three supervisors' apartments; a new dormitory to house approximately 238 men students, with a supervisor ' s apartment and t-wo faculty apartments; and a new apartment building to house approximately 8 faculty families; all with necessary appurtenant facilities (referred to as "Project 62(D) ") presently under construction on the campus of said Coll£ge, and to be financed through application of the proceeds of the Series D Bonds, as su~pl emented by other available funds, (c) any other housing facilities or related auxiliary facilities, including , inter alia, dining faciljties, which may be added to the said Housing System at future dates in accordance wit h the conditions and restrictions provided in connection with the permissive issuance of parity bonds, and (d) any such fa cilities as may be added to the Housing System as additional security for the Bonds (hereinafter sometimes referred to as t.he "Housing System, 11 or the "System 11 ) , under and in full compliance I �- . 357 with the Constitution and Statutes of the Commonwealth of Kentucky, includ ing, among others, Sections 162 . 350 to 162 . 380, inclusive, of the Kentucky Revised Statutes, now in full force and effect. All of said Bonds are issued under and pursuant to a Trust Indenture (said Indenture, together will all indentures supplemental thereto as I therein permitted, being hereinafter called the "Indenture"), of even date herewith, executed by and between said Board of Regents and State Bank and Trust Company of Richmond, Kentucky, as Trustee (said Trustee and any successor Trustee under said Indenture being herein called the "Trustee"), an executed counter part of which is on file at the office of said Trustee in the City of Richmond, Kentucky. Reference is hereby made to the Indenture for a more specifi c identification of the Housing System and said Project 62(D) and for the provisions, among others, with respect to the custody and the application of the proceeds of the Series D Bonds ; the collection and disposition of the revenues ; the fund charged with and pledged to the payment of the interest on and the principal of said Bonds; the nature and extent of the security; the reserved right of the Board to issue I in the future certain additional Bonds which will rank on a basis of parity as to security and source of payment with the Bonds initially authorized, subject to conditions and restrictions which are specifically set forth in the Indenture ; the ri ghts, duties and obligations of said Board of Regents and of the Trustee; and the rights and limitation of rights of the holders of the Bonds; and , by the acceptance of this Bond, the holder hereof assents to all of the provisions of said Indenture . Under authority of the statutes pur suant to which t hi s Bond is issued, this Bond shall have all the qualities and incidents of a negotiable instrument,and , subject to the provisions for registration endorsed hereon and contained in the Indenture , nothing contained in this Bond or in said Indenture shall affect or impair the negotiability of this Bond . I The holder of this Bond shall have no right to enforce the provisions of the Indenture or to institute action to enforce the covenants therein, or to take any action with respect to any default under the Indenture, or to institute , aoo ear in or defend any suit or other proceedings, with respect thereto, except as provided in the Indenture . The Indenture provides for fixing , charging and collecting rentals and other charges for the use of said Housing System, which rents and charges will be sufficient to pay the principal of and the interest on said Bonds as the same become due, and to �provide reserves for such purposes and also to oay the cost of maintenance, operation and repair of the said Housing System. The Indenture provides for the creation of a special fund designated ''Housing System Revenue Bonds of 1962 Bond and Interest Sinking Fund Account 11 (herein called the "Bond and Interest Sinking Fund") , and for the deposit to the cr edit of said Bond and Interest Sinking Fund of a fixed amount of the gross income and revenue s of said Housing System to pay the principal of and the I interest on the Bonds as the same become due, and to provide a reser ve for such purpose , which Bond and Interest Sinking Fund is pledged to and charged with the payment of said principal and interest. This Bond and the issue of which it is one, and Bonds ranking on a basis of parity which have heretofore been issued and may hereafter be issued and outstanding um.er the conditions arrl restrictions s et fo r th in the Indenture , are payable on a basis of parity only from a fixed amount of the gross income and revenues to be derived from the operation of said Housing System (and , in the case of the dormitory for men known as O' Donnell Hall only, subject to the acknowledged priority of the security rights previously made for the benefit and protection of the holders of $122, 000 "Dor mito r y Bonds of 1957 , 11 being all of the outstand- I ing Bonds of that designation, originally issued in the principal sum of $600, 000) , which fixed amount will be set aside in said Bond and Interest Sinking Fund; and this Bond does not constitute any indebtedness of Eastern Kentucky Stat e College or of its Board of Regents or of the Commonwealth of Kentucky within the meaning of any provisions or limitations of the Constitution of the Co!TITlonwealth of Kentocky. REDEMPI'I ON PROVISIONS The Board reser ves the right to call and redeem Bonds prior to their respective maturity dates as follows : (a) Surplus funds in the "Project 62 (D) Construction Account , 11 provided for in the Indenture, will be applied to the redemption of the Series D Bonds in the inverse order of their numbering; (b) Bonds shall be subject to redemption from the proceeds of insurance , in the event of damage to or destruction of properties cons tituting parts of the Housing System, as provided in the Indenture ; (c) Certain Bonds of each Series are subject to redemption at t he option of the Board in inverse numerical order on any interest payment date subsequent to the date of the Bonds, at par nlus accrued int erest t o I �the date of redemption, upon notice as hereinafter provided ; (d) The Board reserves the right to call for redemption , subject to the redemption provisions of the r e soective Bond Series, any and all outstanding Bonds which may be called and redeemed at oar or face value , pr ior to calling for r edemption any Bonds that are callable at a premium; I (f) Subject to all of the foregoing, the Bonds of Series Dare subject to redempt ion at the option of the Bo~rd as follows : Bonds numbered 1 through 386 , inclusive , maturing February 1, 1965, through February 1, 1972, inclusive, are non - callable, except through application of the proceeds of insurance , as aforesaid . Bonds numbered 2;,16 through 3187, inclusive, maturing February 1, 1998, through February 1 , 2002 , inclusive, are subject to redemption at the option of the Board in inverse numerical order on any interest payment date subsequent to the date of the Bonds at par or face value plus accrued interest to the date of redemption ; and (in corrmon with certain Bonds of Series A, Series Band Series C which are similarly calla ole without premium) are entitled to priority over outstanding Bonds of any Series before call for I redemption of Bonds of any Series which are at the time callable for redempt ion at a premium . Bonds numbered 387 through 2515 , inclusive , maturing February 1 , 1973, through February 1, 1997, inclusive, are subject to r edemption at the option of the Board orior to the stated maturities thereof, in whole or in part, and in inverse numerical order , on any interest payment date after February 1, 1972, upon notice as hereinafter provided , at the principal amount thereof plus accrued interest to the date of redemption and a premium for each Bond redeemed prior to its stated maturity according to the following schedule : I 3% if redeemed August 1, 1972, through February 1, 1977 , inclusive 2-1/2% if redeemed August 2% if redeemed August 1, 1982, through February 1, 1987, inclusive 1-1/2% if redeemed August 1, 1987, through February 1, 1992, inclusive 1% if redeemed after February 1, 1992 . 1, 1977, through February 1, 1982, inclusive If the Board at its option undertakes to redeem outstanding Bonds in advance of scheduled maturity, it is agreed and understood (1) that, except for the redemption of Series C and Series D Bonds with surplus funds in 'their respective Construction Accounts, calls of Bonds will be applied to each Series of Bonds on an equal pro rata basis (reflecting the proportion of the original amount of each Series of Bonds outstanding at the time of such call) �and (2) calls of Bonds for each Series of Bonds will be in accordance wit h the call provisions of the respe ctive Bond Series; provided, however , as aforesaid , the Board shall have the right to call, subject to the call provisions of the respective Bond Series, any or all outstanding Bonds which may be called at par prior to calling any Bonds that are callable at a premium. Notice of any such intended redemption, identifying the Bonds to I be redeemed, will be on file at the office of the Trustee at least thirty days prior to the snecified redemotion date , and such notice shall be published at least once not less than thirty days prior to said red~ption date in a financial newspaper or journal of general circulation published in the English language in the Ci~y of New York, New York . Any Bonds called for redemption and for the payment of which funds are on deposit with said Trustee on the specif ied redemption date shall cease to bear interest on said redemption date . This Bond shall pass by delivery unless registered as to prj ncipal on the books of said Board of Regents at the office of the Trus tee under the Indenture, and such registration noted hereon, after which no valid transfer hereof shall be effective unless made on said books and similarly I endorsed hereon at the written request of the registered holder or his duly authorized representative , but this Bond may be discharged from registrati on by being in like manner registered to bearer whereuoon full negotiability and transferability by delive ry shall be restored but may again from time to time be registered as aforesaid . Such registration shall not affect the negotiability of the interest coupons which shall always remain payable to bearer and transferable by delivery merely . The Board of Regenvs and the Trustee may deem and treat the bearer of this Bond , if not registered as to pri ncipal, and the bearer of any coupon hereto appertaining, whether or not this Bond be so registered, or if this Bond be ''egistered as herein authorized, the person in whose name the same is registered, as the absolute owner for the purpose of receiving payment and for all other nurposcs . A statutory mortgage lien, which is hereby recogni zed as valid and binding on the buildings of said Housing System, those portions of the sites physically occupied therebv, and all necessary appurtenances, including adequate provision for ingress, egress and the rendering of necessary services , is created and granted to and in favor of the holder I �or holders of this Bond and the issue of which it is a part, and in favor of the holder or holders of the couoons attached thereto, and said Housing System shall remain subject to such statutory mortgage lien until the payment in fiill of the principal of and interest on this Bond and the issue of which it is a par t ; pr ovided, however , that as to a certain dormi - I tory known as O'Donnell Hall , only, said l ien is acknowledged to be subordinate and inferior to a similar s~atuto r y mortgage lien previously created for the security and protection of certain "Dormitory Bonds of 1957 , 11 of which only $122,000 remain outstanding as of the date hereof . This Bond shall not be valid or become obligatory for any purpose, or be entitled to any security or benefit under the I ndenture , until it shall have been authenticated by the execution by the Trustee of the certificate hereon endorsed . It i s hereby cer tifie d , r ecited and declared that all acts, conditions and things required to exist , to hanoen , and to be performed pr ecedent t o and in the issuance of this Bond do exist, have happened, and have been performed in due time , form and manner as required by l aw, and that the amount I of this Bond, together with all other obligations of said Board of Regents and of said Eastern Kentucky State College , does not violate any pr ovision or exceed any limit prescribed by the Constitution or Statutes of Kentucky ; that said Housing System will be continuously operated , and that a sufficient portion of the gross income and revenues therefrom has been pledged to and will be set aside into said Bond and Interest Sinking Fund (after pr ovision is first made from the inccrne and revenues of said dormi tory known as O'Donnell Hall , for requirements of the outstanding "Dormi tory Bonds of 1957 ," above 1· eferred to) for the payment of the principal of and interest on this Bond and the is.ue of which it is a part and any other Bonds which may hereafter be issued and outstanding , which by their terms are payable from said identified special fund , as the same will respectively become due . I IN Tr.SrIMONY WHEREOF, the Board of Regents of Eastern Kentucky State College, at Richmond , Kentucky, has caused this Bond to be executed in its name and behalf by the authorized facsimile of the s ignature of its Chairman, and ha s caused the authorized facsimile of its corporate seal to be imprinted hereon, attested by the manual signature of its Secr etary; and has caused the coupons hereto a~tached to be executed with the authorized fa csimile si gnature s of said Chairman and Secretary; all being done as if the firs t day of February, 1962. �BOARD OF REGEN LS OF EASTERN KENTIJCKY STATE COLLE,GE By (Facsimile) --~---:,----'------Chairman (FACSIMILE OF SEA.L) ATTEST : I (Manual Signature) --~--(FORM OF COUPON) Number $ ------- ------ -llUnless the Bond to which this coupon is appurtenant shall have been called for redemption and funds for the payment thereof are duly provided , ➔* on the first day of ________, 19_, the Board of Regents of Eastern Kentucky State College, at Richmond, Aentucky, will pay to bearer --------Dollars ($----- ) in any coin or currency which at said date of payment is legal trnder for the payment of debts due the United States of America, out of its "Housing System Revenue Bonds of 1962 Bond and Inter est Sinking Fund Account ," at the princioal office of State Bank and Trust Company of Richmorrl , Kentucky, in the City of Richmond, Kentucky, or at the option of the holder hereof, at the pr incipal office of Chemical Bank New York Trust Company,in the Borough of Manhattan, I City of New York, State of New York, as provided in and for interest then due on its Housing System Revenue Bond of 1962, Series D, dated as of February 1, 1962, Number BOARD OF REGENTS OF EASTERN KENTUCKY STATE COLLEGE By (Facsimile) ---=,---:,----------Ch airman ATTEST: (Facsimile) Secretary (FORM OF AUTHENTICATION CERTIFICATE) This Bond is one of the Bonds described or pr ovided for in the within -mentioned Indenture . STATE BANK AND TRUST COMPANY OF RICHMONJ, KENTUCKY,Trustee By (Manual Signature ) ___A _u_t_h_o_r....,i,....z-e~d-O_f,..,f"""i_c__e_r_ _ I �(FCRM OF REGISTRATION TO BE PRINTED ON BACK OF EACH BOND) I Signa ture of Authorized Officer of Trustee Name of Date of Registration Registered Holder AND WHEREAS , the fully registered Bond or Borns without coupons issu- able hereunder shall be in substantially the form set forth below (with appropriate insertions end changes therein as to principal amounts , dates , dates of maturity of principal installments , names of payees, and otherwise as may be required in the event that only certain maturities of the Borns shall have been purchased by the Government of tre United States and/or by any other pu~chaser or purchasers) , to - wit : (FORM OF FULLY REGISTERED BCND) UNITED STATES OF AMERICA COMMONWEAL'IH OF KENTUCKY EASTERN KENTUCKY STATE COLLE.GE I HOUSING SYSTEM REVENUE BOND OF 1962 SERIES D $_ _ _ _ _ No . R-1 The Board of Regents of Eastern Kentucky State College , at Richmond , Kentucky, a public body corporate and an educational agency and instrumentality of the Commonwealth of Kentucky, (hereinafter called the "Borrower"), for value received, hereby promises to pay, solely from the special fund pro vided therefor , as hereinafter set forth , to {the UNITED STATES OF AMERICA, HOUSING AND HOME FINANCE ADMINISTRATOR, or his successor (herein sanetimes called the "Payee ") , or his r egistered assigns(herein sometimes called the 1/ "Alternate Payee" )7 the principal sum of ___ _ _ __ _ _ Dollars ($ - - - - - -), on the first day of February in years and installments as follows : I YEAR PRINCIPAL AMOO NT YEAR PRINCIPAL AMOJNT in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of debts due the United States of America, and in like manner solely from said special fund to pay interest on the balance of said principal sum from time to time remaining !/This designation to be used where bonds have been awarded to the Government . �unpaid, in like coin or currency, at the rate of ____%per annum, semiannual}y , on February 1 arrl August 1 of each year , commencing on August 1, 1962, until the principal amount hereof has been paid . During the time the Payee is the registered owner of this Bond payment of the principal installments and interest due shall be made at the Federal Reserve Bank of Richmond, Richmond, Virginia , or such other fiscal agent as the Payee shall designate (herein called the "Fiscal Agent '' ) . During I such time as an Alternate Payee is the registered owner hereof , said payments shall be made at the principal office of State Bank and Trust Company of Richmond , Kentucky, the Trustee under the Indenture , herein after mentioned , pursuant to which this Bond is issued, in the City of Richmond, Kentucky, or its successor as such Trustee, or, at the option of the Alternate Payee, at the principal office of Chemical Bank New York Trust Company, in the Borough of Manhattan, City and State of New York (herein called the "Alternate Paying Agent"). Payments of principal and interest, including prepayments of installments of principal as hereinafter provided, shall oe noted on the Payment Record made a part of this Bond and if payment is made at the office of the Fiscal Agent or Alternate Paying Agen t, written notice of the making of such notations shall be I promptly sent to the Borrower at the office of the Trustee , and such payment shall fully discharge the obligation of the Borrower hereon to the extent of the payments so made . Upon final payment of principal an:i interest this Bond shall be submitted to the Trustee for cancellation and surrender to the Borrower . This Bond is one of a duly authorized issue of Bonds now in the aggregate principal amount of $8,855,ouo, consisting of Series A Borris in the aggregate principal amount of $393 ,000, Series B Bonds in the aggregate principal amount of ~1 , 900,000 , Series C Bonds in the aggregate principal amount of $3,375 ,000 , and Series D Borris in the aggregate principal amount of $3 , 187,000, all of said rlonds being of the same tenor and effect (except for numbers, denominations, maturity dates , series designations, provisions with respect to redemption prior to ~aturity , and possible variation in interest rates), issued for financing and refinancing the costs, not otherwise provided, of the Housing System of said Eastern Kentucky State College , consisting of (a) initially, certain student housing facilities existing on the campus of said Colle~ in Richmond, Madison County, Kentucky, as particularly identified in the I �Trust Indenture hereinafter referred to , (b) a new donnitory to house approximately 416 women students , with three supervisors ' apartments; a new dormitory to house approximately 238 men students , with a super visor ' s apartment ar:d two faculty apartments; and a new apartment building to house approximately I 8 faculty families ; all with necessary appurtenant facilities (r eferred to as "Project 62(D) " ), presently under construction on the campus of said College , and to be financed through application of the proceeds of the Series D Bonds , as supplemented by other available funds , (c) any other housing facilities or related auxiliary facilities , including, inter alia , dining facilities , which may be added to t he said Housing Systan at future dates in accordance with the conditions and restrictions provided in connection with the permissive issuance of parity bonds , and (d) any such facilities as may be added to the Housing System as additional security for the Bonds (herei nafter some ti mes referred to as the "Housing System II or the "System" ) , under and in full comnliance with the Constitution and Statutes of the Commonwealth of Kentucky, including, among others, Sections 162. 350 to 162. 380, inclusive, of I the Kentucky Revis ed Statutes , now in full force and effect. All of said Bonds are issued under and pursuant to a Trust Indenture (said Indenture , together with all indentures supplemental thereto as therein pennitted , being hereinafter called the "Indenture"), of even date herewith , executed by and between said Board of Regents and State Bank and Trust Comnany of Richmond , Kentucky, as Trustee (said Trustee and any successor Trustee under said Indenture being herein called the "Trustee"), an executed counterpar t of which is on file at the office of said Trustee i n the City of Richmond, Kentucky . Refer ence is hereby made to the Indenture for a more specific identification of the Housing System and of Project 62(D) and for the provisions, among others , with respect to the custody and the application of the proceeds of the Bonds; the collection and disposition of the revenues; the fund charged with and pledged to the payment of the interest on and the I principal of said Bonds; the nature and extent of the security; the reserved right of the Board to issue in the future certain additional Bonds which will rank on a basis of parity as to secur1ty and source of payment with the Bonds initially authori zed, subject to conditions and r estrictions which are specifically set forth in the Indenture; the rights, duties and obligations of said Board of Re gents and of the Trustee ; and the rights and l imitation of rights of the holders of the Bonds; and , by the acceptance of this Bond , �the holder her eof assents to all of the pr ovisions of said Indenture. The hol d er of this Bond shall have no righ t to enforce the pr ovisions of the Indentu.:-e or to institute action to enforce the covenarts ther ein, or to take any action with respect to any default under the Indenture , or to inst itute, appear in or defend any suit or other pro ceedings with respect thereto , except as provided in the Indenture . The Indenture provides for fixing, charging and collecting rentals and other I charges for the use of said Housin g System, which rents and charges will be sufficient to pay the princinal of and the interest on said Bonds as the same become due , and to provide r eserves for such purposes and also to pay the cost of maintenance, operation and repair of the said Housing System . The I ndenture provides for the creation of a soecial fund designated "Housing System Revenue Bonds of 1962 Bond and Interest Sinking Fund Account" (herE;in called the "Bond and Interest Sinking Fund"), and for the deposit to the credit of said Bond and Inter est Sinking Fund of a fixed amount of the gross income and revenues of said Housing System suffi cient (after first making provision, in the case of a certain dormitory known as O' Donnell Hall, only, for a prior lien upon and pl edge of revenues thereof, previously created for the security and source of I payment of certain "Dormitory Bonds of 1957 ", of which only $122, 000 remain outstanding and unoaid as of the date hereof) to pay the principal of and the interest on the Bonds as the same become due, and to provide a reser ve for such purpose , which Bond and Interest Sinking Fund is pledged to and charged with the payment of said principal and interest . As pr ovided in the Indenture, this Bond is exchangeable at the sole expense of the Borrower at any time , upon ninety days ' notice, at the request of the registered owner hereof and upon surrender of this Bond to the Borrower at the office of the Trustee in the City of Richmond, Kentucky , for negotiable coupon bonds, payable to bear er, registrable as to principal only, of the denomination of One Thousand Dollar s ($1 , 000) each , in an aggregate principal amount equal to the unpaid principal amount of this Bond, and in the form of such coupon Bond as provided for in the Indent ure . PREPAYMENT PROVISIONS [There shal l here be inser ted, in the case of Series D Bonds issued in full y registe red form, the general redemption provisions applicable in common to Series A, Series B, Series C, and Series D, I �together with the redemption provisfons specifically applicable in the case of Series D, comparable to the REDEMPTION PROVISIONS set forth in the FORM OF COUPON BOND hereinabove set forth; with proper adaptations of wording to refer to prepayment rather than redemption, and to installments of principal instead of Bonds of I $1, 000 denomination; provided , however, that the provisions for giving notice of redemption or prepayment shall be as set forth below:? Notice of any such optional prepayment shall be given at least thirty days prior to the prepayment date by mailing to the registered owner of this Bond a notice fixing such prepayment date, the amount of pri ncipal and the premium, if any, to be prepaid . A statutory mortgage lien, which is hereby recognized as valid and binding on the buildings of said Housing System, those portions of the sites physically occupied thereby, and all necessary appurtenances, including adequate orovision for ingress, egres s and the rendering of necessw:-y services, is created and granted to and in favor of the holder or holders of I this Bond and the issue of which it is a part, and in favor of the holder or holders of the coupons attached thereto, and said Housing System shall remain subject to such statutory mortgage lien until the payment in full of the principal of and interest on th1s Bond and tlle issue of which it is a part; provided , however, that as to a certain dormitory known as O' Donnell Hall, only, said lien is acknowledged to be subordinate and inferior to a similar statutory mortgage lien previously created for the security and protection of certain "Dormitory Bonds of 1957 , 11 of which only :Sl22, 000 remain outstanding as of the date h ereof . This Bond may be assigned and noon such assignment the assignor shall promptly notify the Borrower at the office of the Trustee by registered mail, and the Alternate Payee shall surrender the same to the Trustee either in exchange for a new fully registered Bond or for transfer on the regis- I tration records and verification of the endorsements made on the Payment Record attached hereto of the portion of the principal amount hereof and interest hereon paid or prepaid , and every such assignee shall take this Bond subject to such condition . In case any event of default, as defined in the Indenture , shall occur, the principal of this Bond may be declared or may become due and oayable in the manner and with the effect provided in the Indenture . �No recourse shall be had for the payment of the principal of or interest on this Bond against any officer, director , trustee, or member of the Borr ower, as such, all such liability (if any) being hereb1 expressly waived and r eleased by every registered holder or transferee hereof by the acceptance hereof , and as a part of the consideration hereof , as provided in the Indenture . It is hereby certified, recited and declared that all acts , condi- I tions and things required to exist, to haopen, and to be performed pre cedent t.o and in the issuance of this Bond do exist, have haopened, and have been performed in due time , fonn and manner as required by law, and that the amount of this Bond, to gether with all other obligations of said Board of Regents and of saio Eastern Kentucky State College, does not violate any pr ovision or exceed any ljmit prescribed by the Constitution or Statutes of Kentucky; that said Housing System will be continuously operated , and that a suff icient por tion of the gross income and revenues therefrom has been pledged to and will be set a s ide into said Bond and Interest Sinking Fund (after provision is first made from the income and revenues of said dormitory known as O' Donnell Hall , for r equire- ments of the out standing "Dormitory Bonds of 1957," above referred to) I for the payment of the principal of and interest on this Bond and the issue of which it is a part and any other Bonds which may her eafter be issue d and outstanding, which by their terms are payable from said identified special fund , as the same wilJ respectively become due . This Bond shall not be entitled to any benefit under the Indenture or be valid or become obligatory unless it shall have been authenticated by the Trustee , or its successor i n the trust, by completing the Cer tificate of Trustee appearing hereon . IN WITNESS WHEREOF, the Borr ower has caused this Bond t o be executed in its name by the authorized facsimj_le of the signature of its Chairman, and has caused the authorized facsimile of its corporate seal to be imprinted hereon, attested by the manual signature of its Secretary, all as of the first day of February, 1962 . BOARD OF REGENTS OF EASTERN KENTUCKY STATE COLLl:-oGE (FACSIMILE OF SEAL) ATTEST: (Manua l Signature) Secretary By - ---,::Cc:(Facsimile) h-a"'i_r_ "' m_a_n_______ I �(FOID-' OF TRUSTEE 1 S CLRTIFICATE) CERTIFICATE OF TRCSTEE This Bond is the /al Fully Registered Bond as described in the within- mentioned Indenture . STATE BANK AND TRUST COMPANY OF RICHMOND, KENTUCKY, Trustee I By_ _ _(.:.;.M.:...a_n...;.u_a_l__::_S_ign~a.,,..t~u_r_e...:.)_ _ Authorized Officer (FORM OF ASSIGNMENT) Without representation, warranty or recourse, the within Bond is hereby assigned unto ---------------------this- - - -day of ---------Witness Payee PAYMENT RECORD Due Date Principal Payment Principal Interest Balance Payment Due ( %) Date Paid Name of Paying Agent Authorized Official & Title I (enter (enter (leave dates amounts) blank) for principal and Interest) (leave blank) (leave blank ) (80 due dates - leave one-half inch space between each due date, etc. for manual interlining, if necessary; also half a page at end for any explanation which might be required) SCHEDU LL !I AII (This should be separate sheet) Pri ncipal installments on which payments have been made prior to maturity I Principal Due Date Principal Payment Balance Date Paid Name of Paying Arent Authorized Official and Title Amount AND WHEREAS , the Board has duly authorized the i ssuance of t he Bonds and the exe rution and delivery of th .;.s Supplemental Trust Indenture , and all other acts and things necess~ry or required by the Laws of the Commonwealth of Kentucky or otherwise to make the Bonds , when duly executed on behalf of the Board and authenticated by the 1'rustee and issued , valid and binding �- 3 70 legal obligations of the Board in accordance with their terms and to make this Supplemental Trust Indenture a valid and binding Indenture for the security of the Bon ds, according to the import hereof, have been duly done and performed ; NOW, THEREFORE, this Indenture wi tnesseth ; That in consideration of the premises, of the acceptance by the Trustee of the Trust hereby created , and of the purchase and acceptance I of the Series D Bonds by the holders thereof , and also for and in consideration of the sum of One Dollar ($1 .00) to the Board in hand paid by the Trustee at or before the execution and delivery of this Indenture , the r eceipt of which is hereby acknowledged, and for the purpose of fixing and declaring the terms and conditions upon which the Seri es D Bond and interest coupons are to be and may be issued, authenticated, delivered , secured and accepted oy all persons who shall from time to time be or become holder s thereof, and in order to secure the payment of all the Bonds of all SeriEs at any time issued and outstanding hereundEr , and the interest thereon according to their tenor , purport, and effect, and in order to secure the performance and observance of all of the covenants, agreements , and conditions therein and herein contained , the I Board has pledged and does hereb ~ pledge the revenues of the Housing System (subject, as aforesaid , t o the prior pledge as to O' Donnell Hall only) , and the revenues of the buildini~ s and facilities of said Project 62(D) , hereinafter constituted parts of said Housing System, as security for the payment of the Bonds arrl the interest thereon to the extent provided in this Indenture; and it is mutually agreed and covenanted by and between the parties hereto, for the equal and proportionate benefit and security of all and singular the present and future holders of the Bonds and interest coupons issued and to be issued under this Indenture , ~ithout preference, priority , or distinction as to lien or otherwise, except as otherwise herein provided, of any one Bond over any other Bond by reason of priority in the issue, sale or negotiation thereof or otherwise , as follows : ARTICLE ONE DEFINITION OF TERMS Section 1 . 01 . In each and every place in the pr eamble of this Indenture where certain terms , parties, and Bonds are parenthetically I �- 371 identified and in and throughout t'1is Indenture wherein the following terms , or any of them, are used , the same, unless the context shall indicate another or different meaning or intent shall be construed , are used, and are intended to have meanings and to be inclusive , as follows : I I (a) "College " -- Eastern Kentucky State College , situated in Richmond , Madison County, Kentucky. (b) "Board " -- The Board of Regents of Eastern Kentucky State College . (c) "Trustee" -- The Trus tee named and identified in the Trust Indenture, and herein , a banking corpor ation or association cr eated under and existing by virtue of the laws of the Commonwealth of Kentucky , having proper trust powers , and having its principal office and place of business in the City of Richmond , County of Madison , Kentucky, or a ny successor Trustee designated pursuant to the provisions of this Indenture . (d) "Trust Indenture" -- The Trust Indenture executed by the Board and the Trustee under date of February 1, 1962 , oursuant to which the Housing System was established, and the Series A, Series B, and Series C Bonds were issued . (e) "Borrls 11 - - Series A, Series B, Series C, and Seri es D Bonds , issued pursuant to the orovisions of the Trust Indenture and this Supplemental Trust Indenture (and also , as applicable in context, any parity Bonds which may be issued in the future according to the provisions and subject to the restrictions prescribed in that connection) . (f) "Revenue Fund" -- the "Housing System Revenue Borrls of 1962 Revenue Fund Account ," as created in the Tr ust Indenture . (g ) "System Repair and Replacement Reserve" -- The "Eastern Kentucky State College Housing Systen Revenue Bonds of 1962 Repair and Replacement Re serve Ac count , 11 as created in the Trust Indenture . (h) "Borrl and InterPst Sinking Fund " -- the "Housing System Revenue Bonds of 1962 Bond and Interest Sinking F'und Account , 11 as created in the Trust Indenture . (i) "Construction Fund" -- the special fund or account created in this Supplemental Trust Indenture , into which provision is made for the deposit of the proceeds of the Series D Bonds (exclusive of accrued interest received from the purchaser or purchasers, and such amount as is provided to be seG aside for interest accruing during the anticioateu construction per iod) , together with other available funds to pay the costs of Project "62 (D) 11 he rein de fined • (j) "Project 62(D) 11 - - a project currently under construction under HHFA Project CH -Ky- 62(D) , consisting of a new dormitory to house approximately 446 women students, with thr ee supervisor s • apartments; a new dormitory to house approximately 238 men students , with a super visor ' s apartment and two faculty apartments ; and a new apartment building to house approximately 8 faculty families ; all with necessary appurtenant facilities ; arrl situated upon lands whi ch are parts of the campus of Eastern Kentucky State College at Richmond, Kentucky . (k) "Housing System" or "System" -- the "Eastern Kentucky State College Housing System II created and more particularly identi f i ed in ARTICLE SEVEN of the Trust Indenture comprising , in general terms, (1) certain identified existing housing facilities on the campus of said College , (2) the housing facilities comprising 0 roject 62(D) , as above defined and which may be added to in the future by including therein (3) any other housing facilities or r elated auxiliary facilities including, inter alia, dining facilities which may be so added at future dates : (i) in accordance I �with the provisions set forth in ARTICLE SEVEN relative to the issuance of additional parity bonds, or (ii) as additional security for the Bonds . (1) "Chairman 11 - - the Chairman and each and every Vice Chairman and each and every other officer of the Board authorized to exercise the powers and authority reposed in the Chairman of the Board . (m) "Secretary" -- the Secretary and each and every Assistant Secretary and each and every other officer of the Board authorized to exercise the powers and authority reposed in the Secretary of the Board . (n) "Treasurer" - - the Treasurer and each and every Assistant Treasurer and each and every other officer of the Board authorized to exercise the nowers and authority reposed in the Treasurer of the Board . (o ) "Architect" or "Engineer" -- any licensed architect or engi neer appointed oy the Board, including any other architect or engineer in the employ of the Board or of the College and so appointed . (p) "Fiscal Year 11 - - shall mean the 12-months period beginning July 1, and ending the following June 30, inclusive . Section 1.02. I Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders . Section 1.03. The words "Bond," "owner," "holder," and "person" shall include the plural as well as the singular number unless the context shall otherwise indicate . The term "Bondholders" means and contemplates, I unless the context otherwise indicates, the holders of the Bonds at the time issued and outstanding hereunder. Each of the words "person" arrl "corpora ti on II shall include the other, unless the context shall otherwise Lndicate . Section 1 . 04 . Whenever in this Supplemental Trust Indenture it is provided that any facts or opinion be evidenced to the Trustee by means of a certificate, statement, opinion, or other document, it shall constitute compliance herewith if the various facts and/or opinions intended so to be evidenced to the Trustee be included in different certificates, statements , opinions, or other .documents signed by the same person or different persons of the same qualifications . ARTICLE TWO GENERAL PROVISIONS R"RG1tRDING EXECUTION, AUTHENTICATI:)N AND REGISTRATION OF BONDS Secti on 2. 01. Save as is herein pro vided in respect of mutilated, lost, destroyed or stolen Bonds , (and Counon Bonds issued in exchange for Bonds issued in fully regist ered form, as hereinafter authorized), Series D Bonds may be i ssued hereunder to the aggregate principal amount of no I �- 3 13 more than Thr ee Million One Hundred Eighty- Seven Thousand Dollars ($3 , 187 , 000) ; but the Board expressly reserves the right to issue additional Bonds payable from revenues of the aforesaid Housing System, subject to the conditions and restrictions specifically set forth in the Trust I ndenture . The Series D Bonds shall be issued as coupon Bonds in the denomination of One Thous and I Dollars ($1 , 000 ) each, registrable as to principal only, or as one or more full y r egistered Bonds , in form or for ms substantially as hereinabove set forth . The principal of each Bond and the interest thereon shall be pay- able at the office of the Trustee hereinbefore named and identified , or of its successors in trust under this Indenture , or , at the option of the holder , at the princioal office of the hereinbefore identified alternative paying agent, in the City of New York, New York , in such coin or currency of the United States of America as at the time of payment shall be legal tender for the oayment of dents due the United States of Amer ica. The Bonds and the interest coupons appertainmg thereto shall be respect ively substantially in the forms hereinbefore s et forth, with such omissions , variations and inser tions as a r e required or oermitted by the terms of the Trust I Indenture and this Supplemental Trust lndenture to evidence the terms thereof . Section 2.02 . The Series D Bonds shall bear interest at an average of no more than 3- 3/8% per annum , such rate or rates applicable to the Series D Bonds to be established upon the basis of competition among bidd ers when said Bonds are sold at an advertised, public , competitive sale, as herein provided . All such interest to the respective maturity dates of pri ncipal of Bonds issued in Coupon Form shall be evidenced by coupons attached to the Bonds , payable seminan~ually on each Februar y 1 and August 1, beginning August 1 , 1962 ; but any coupons past due at the time of delivery may either not be manufactured, or, if manufactured, detached and destroyed prior to delivery . Subject to the reserved rights of redemption of the Series D Bonds , which are i s sued in the form of Coupon Bond.s, and principal installments of Bonds issued in fully registered form , prior to maturity as provided I in each of tile above authorized FORMS OF BONDS, in ARTICLE THREE of thi s Supplemental Trust I ndentur e , said Coupon Bonds of Series D shall be number ed and mature as to principal on February 1 of the respective years , in accordance with the followi ng schedule , which, in the columns identified as "Principal Amount " and "Date of Maturity" also represent the amounts and matur ity dates of installments of principal of such Series D Bonds as may be issued in fully registered form: �-· 37-i SCHEDULE OF PRINCIPAL MAI'URITIFS SERIES D BONDS PRTNCIPAL AMO!lNT BONDS NUMBERLD (Inclusive ) $45, 000 45, 000 45, 000 45, 000 50, 000 so,ooo so , ooo 56, ooo 56, 000 56, 000 61, 000 61, 000 61, 000 67 , 000 67 , 0JO 67,000 74, ooo 74,000 79, 000 1-45 46 - 90 91-135 136-180 181- 230 231- 280 281-330 331- 386 387-442 443- 498 499- 559 560- 620 621- 681 682- 748 749- 815 816- 882 883-956 957-1030 1031-1109 1110-1188 1189-1273 1274-1358 1359-1448 1449-1538 1539-1634 1635- 1730 1731-1833 1834-1936 1937- 2046 2047- 2156 2157 -2273 2274- 2390 2391- 2515 2516- 2640 2641- 2772 2773- 2904 2905-3042 3043- 3187 79 , 000 85, 000 85,ooo 90, 000 90, 000 96, ooo 96,ooo 103, 000 103, 000 110, 000 110, 000 117, 000 117 , 000 125,000 125, 000 132, 000 132, 000 138,000 145, 000 Section 2. 03 . DATE OF MATURITY February February February February February February Februar y Fe truary February February Febr uary February February February February February February February February February February Februa:ry February February February Februa :ry February February February February February February February February February February February February 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 I I The Series D Bonds shall be offered for sale by the Board, without the intervention of the Trustee , at such time or times as the Board may direct upon the basis of a notice published by the Board one time in a newspaper of state-wide general circulation in the Cormnonwealth of Kentucky, and one time in The Bond Buyer, a financial journal published in New York, New York, and of general circulation among bond b~yer s throughout the United States of America, and upon the basis of sealed competitive bids which shall be opened, considered and acted upon by the Bo,.rd. Such notice in each case shall be published not less than seven (7) days nor more than twenty-one days in advance of the date set forth ther ein for the opening and consideration of purch ase bids. The Series D Bonds shall at one time or from time to time be executed on behalf of the Board by the repr o•juced facsimile of the signature of its I �'· Chairman and a facsimile reprodu ction of the corporate seal shall oe imprinted thereon , at.tested by the manual signature of its Secretary; and the interest coupons appurtenant to any Bonds issued in Coupon Fonn shall be executed by the reproduced facsimile signatures of the Chairman and Secretar y . The Bonds shall then be delivered to the Trustee for authentication by it; and I thereupon the Trustee shall, upon receipt by the Trustee of evidence satisfactory to the Trustee of the proper execution of this Supplemental Trust I ndenture , authenticate said Bonds , and deliver the same to such officer or offi cers of the Board as may be designated to the Trustee . Such officer or officers shall make deliver y of said Series D Bonds to the purchaser or purchasers , but only upon payment of the stated nurchase nrice or prices, which shall immediately be deposited to the cr edit of the special funds or accounts , as hereinafter provided . Only Bonds as shall bear thereon endorsed a certification of authentication substantially in substantially the form hereinbefore recited , executed on behalf of the Trustee by its authorized officer shall be secured by the Trust ~ndenture and this Su~plemental Trust Indenture or be I entitled to any r ight or benefit hereunder . The authentication by the Trustee upon any Bond shall be conclusive evidence and the only evidence that the Bond so authenticated has been duly issued hereunder and that the holder thereof is entitled to the benefit of this Indenture . All of the provisions of' Sections 2. 04 to 2. 09, inclusive , of ARTICLE TWO of the Trust Indenture are recogni zed as being applicable to the Series D Bonds . ARTICLE THREE REDEMPTION OF BONDS AND PREPAYMENT OF PRINCIPAL INSTALLMENTS Section 3. 01 . The Board hereby reserves the right to call and redeem all coupon Bonds of Series D numbered 387 to 3187 , inclusive , and to prepay I the corresponding installments of principal of full y registered Bonds , all upon the common aggregate and mutually inclusive terms and provisions which ar e par ticularly set i·orth in the "FORM OF COUPON BOND" which appears in the preamble of this Indenture . All other provisions of ARTICLE THREE of the Trust Indenture are recognized as being applicable to the Series D Bonds . ARTICLE FOUR �DISPOSITION AND CUSTODY OF INCOMt AND ~EVENUES OF PROJ ECT 62(D) AND OF IBE SYSTEM Section 4 . 01 . It is hereinafter provided that as soon as any of the Series D Bonds are sold and delivered all of the buildings and facilities cons tituting Project 62(D), as herein defined, shall be and become and thereafter continually constitute parts of the "Eastern Kentucky State College Housing System," and all rentals , charges, income and I revenue arising from the operation or ownership of the buildings and facilities constituting said Project 62(D) shall constitute rentals, charges , income and revenue arising from the operation and ownership of said Housing System, and shall oe deposited to the credit of the Revenue Fund as provided in Section 4 . 01 of the Trust Indenture . Section 4 . 02 . The Board hereby represents and confirms that the Bond and Interest Sinking Fund, created and provided for in Section 4 . 02 of the Trust Indenture has been duly created and established upon the books of the Trustee to the credit of the Board ; and that all transfers to said Bond and Interest Sinking Fund, and all deposits required by the terms and provisions of the Trust Indenture to have been made from the Revenue Fund into the Bond and Interest Sinking Fund, have been made in I the prescribed amounts and at the prescrioed times . As prescribed by the terms and provisions of Section 7 . 04 of the Trust Indenture in connection with the issuance of the Series D Bonds as parity Bonds, the Board covenants and agrees th at when the Series D Bonds, or any of them, are sold and delivered : (1) There will be deposited in the Bond and Interest Sinking Fund the accrued interest, if any , received at the time of the sale and delivery of such Series D Bonds, together with such further sums from the Series D Bond proceeds oeoosited in the Construction Fund or f r om other sources as will cause the total so deposited to be equal to all interest maturing on said Series D Bonds until Project 62(D) becomes revenue - producing . (2) Commencing with the Janua ry 1 or July 1 next following the date of delivery of the Series D Bonds , or any of them, the Board will adjust the amounts required to be transferred from the Revenue Fund and deposited to the cr&dit of the Bond and Interest Sinking Fund on or before each succeeding January 1 and July 1 , as provided in paragraph (4) of Section 4. 02 of ARTICLE FOUR of the Trust Indenture, so that such semiannual deposits will represent: (a) an amount which , together with such sums as may then be available in said Bond and Interest Sinking Fund, shall be equal to the next succeeding interest payment to become due on all then outstanding BJnds ; (b) an amount which shall be equal to one-half (1/2 ) of the principal amount to become due during the next succeeding twelve (12) months on all then outstanding Bonds ; and I �- 377 (c) an amount which shall be equal to twenty per cent (20%) of the sum of (a) and (b) above and which shall constitute a Debt Service Reserve and be continued so long as the funds and/or investments in such Debt Service Reserve shall be less than an amount sufficient to pay, during the next two ( 2) fiscal years , the principal of and interest on al l then outstanding Bonds . It is recognized and acknowledged that all of the terms and provisions I of Sections 4 . 03 , 4. 04 and 4 . 05, of ARTICLE FOOR of the Trust Indenture , continue to be annlicable to the Housing System as a whole , including the buildings and facilities of the aforesaid Project 62(D) . Section 4 . 06. The terms and provisions of Section 4 . C6 of the Trust Indenture are recognized and shall continue unchanged, except that in conformity with the provisions of Secti on 7 . 04 of the Trust Indenture the amounts to be deposited annually in the Systems Repair and Replacement qeserve shall be increa . ed from $42,000 . 00 to $65 , 000. 00, or such portion thereof as may be available, and ~he amount to be accumulated and maintained therein shall be increased from $420,000 . 00 to $650, 000 . 00 . The provisions of Sections 4 . 07, 4 . 08, and 4 , 09 of ARTICLE FOUR of the Trust Indenture shall continue to be applicable . I ARTICLE FIVE PARTICULAR COVENANTS OF THE BOARD Section 5. 01 . The Board covenants and agrees that it has the lawful control of the sites of all the buildings, facilities , and appurtenances of the Housing System, as the same is hereinafter enlarged and expanded to include all of the buildings , fac ilities, and appurtenances of the afore said Project 62(D) , that said properties are free from any and all liens and encumbrances (except, in the case of the dormi t ory for men known as O' Donnell Hall, only, a prior statutory mortgage lien securing outstanding "Dormitory Bonds of 1957" until the same are paid or fully provided for) , and that the Board will warrant and defend the title thereto against all claims and demands whatsoever . I It is recognized that all of the terms and provisions of Sections 5 . 02 , 5 . 03 , 5. 04, 5 . 05 , 5. 06, 5 . 07, and 5. 08 of ARTICLE FIVE of the Trust Indenture continue to be applicable . Section 5 . 09 . The Board covenants and agrees , upon completion of Project 62(D) , to provide from sour ces other than the proceeds of the sale of the Series D Bonds and from sources other than the funds pledged under the Trust Indenture and hereunder, and in a manner which will not jeopardize �the security of the Bonds, the furnishings and moveable equipment necessary to the full enjoyment of the use and occu pancy of the buildings and facilities of Project 62(D) as a oart of the Housing System. It is recognized and acknowledged that the terms and provisions of Sections 5 . 10 and 5 . 11 of the Trust Indenture continue to be applicable and shall hereafter include the buildings, facilities, and appurtenances constituting the aforesaid Project 62(D) as parts of the Housing System. I ARTICLE SIX CUSTODY AND A?PLICATION OF SERIES D BONDS PROCEEDS Section 6 . 01. A fund is hereby created and designated "Eastern Kentucky State College Project 62(D) Housing Construction Fund " (herein s ometimes called the 11 62(D) Construction Fund " ) , to the credit of which there shall be deposited , as received, the proceeds of the Series D Bonds (with the exception of accrued interest, if any, and interest dur ing the period of construction, which is required by Section 4 . 02 of t he Trust Indenture and ~ection 4 . 02 hereof, to be deposited in the Bond and Interest Sinking Fund . ) The moneys in the 62 (D) Construction Fund I shall be paid to the State Treasurer of the Commonwealth of Kentucky and held in trust (with any supplemental funds provided from other sources) and applied upon orders of the Board to the payment of the costs of Project 62(D) in accordance with and subject to the provisions of ARTICLE SIX of the Trust Indenture, and , pending such application, shall be subject to a lien and charge in favor of the holders of the Series D Bonds and shall be held for the further security of such holders until paid out as provided in the Trust Indenture . Section 6 . 02 . The Board covenants and agrees that prior to the issuance of any of the Series D Bonds it will deposit or cause to be deposited in the 62(D) Construction Fund such sum (if necessary) from sources other than bond proceeds , and from sources and in a manner that will not jeopardize the security pledged to the payment of the principal of and the interest on the Bonds , as will be sufficient, together with the Series D Bond pr oceeds, to assure payment of all costs of constructing the aforesaid Project 62(D) . I �- 3 79 The terms and provisions of Sections 6.03, 6. 04, 6. 05, and 6. 06 of the Trust Indenture continue and shall relate to the aforesaid Project 62(D) in the same manner as the same are applicable to the 11 1962 Project" defined and referred to in the Trust Indenture . ARTICLE SEVEN I THE HOUSING SYSTEM; PARITY BONDS FOR FUTURE ADDITIONS TO THE HOUSING SYSTEM Section 7 . 01 . The Board hereby represents and confims that in accordance with the terms and orovisions of Section 7.01 of the Trust Indenture , i t has established and is continuously operating and maintaining the Eastern Kentucky State College Housing System, comprising those buildings, facilities, and appurtenances which are particularly enumerated and identified in sub - paragraphs (1) to (7), inclusive, of Section 7. 01 of said Trust Inden ture . In accordance with the terms and provisions of sub- paragraph (8) of Section 7 . 01 of ARTICLE SEVEN of the Trust Indenture, the Board hereby determines and declares that from and after the sale and delivery of the I Series D Bonds, or any Jf them , all of the buildings, facilities, and appurtenance s of the aforesaid Project 62(D) shall be, become, and thereafter continuously constitute parts of said Housing System in the same manner and and to the same extent as all other buildings, facilities, and appurtenances of said Housine System . Section 7.02 . The Board determines and declares thatthe provisions of Section 7.02 terms and of ARTICLE SEVEN of the Trust Indenture are inapplicable to the proposed issuance of the Series D Bonds as parity Borrls, but only because it js provided in Section 7.03 of said Trust Indenture that othe r earnings , tests , and other conditions shall apply to additional parity Bonds issued by the Board on or before June 30, 1965 . Section 7 . 03 . I The Board hereby finds that the Series D Bonds will rank on a basis of parity and equality as to security and source of oayment and in all other respects with the previously issued "Eastern Kentucky State College Housing System Revenue Bonds of 1962 , Series A, Serie s B, and Series C, 11 by virtue of the Board's compliance with the conditions and restrictions set forth in Section 7,03 of ARTICLE SEVEN of the Trust Indenture, in that: (a) the facility or facilities to be constructed from the proceeds of such Series D Bonds are by the terms of this Suonlemental Trust Indenture made a part of the Housing System and the Revenues derived therefrom are pledged as additional security for the Series D Bonds and the Boncts of Series A, Series B, and Series C; �- 3 !0 (b) the Board represents that it is in full compliance with all covenants and undertakings in connection with all of the outstanding Bonds which are payable from the Revenues of the Housing System or any part thereof; and (c) The Board represents that the chief financial officer of the Board has prepared and filed with the Board a computation showing that the estimated annual net revenues of the facility or facilities to be constructed with the proceeds of the Series D Bonds when added to the estimated annual net revenues of the present existing Housing System are equal to at least one and thrity- five hundredths (1 . 35) times the average annual debt service requirements for princioal and interest on the Bonds presently payable from the Revenues of the Housing System and on the Ser es D Bonds herein authorized to be issued . I The Board further fin& and declares that said computation of the estimated net revenues of the presently existing Housing System and of the facility or facilities to be constructed through application of the proceeds of the Series D Bonds, has been prepared in strict conformity with the applicable provisions of Section 7 .03 of ARTICLE SE.VEN of the Trust Indenture; and that the computation of estimates has been approved by the President of the College. The Board hereby approves said compu- tation of estimates as the governing body of Eastern Kentucky State College, and directs that the same be filed with the Secretary of the Board and maintained as a permanent record of the Board . Copies thereof may be disseminated in connection with the public offering for sale of the Series D Bonds, and the Secretary is instructed to furnish a copy I thereof , on request, to the holder or holders of any of the Bond previously issued and outstandine under the Trust Indenture . Section 7.04 . In and by th i s Supplemental Trust Indenture the Board has complied with the condi ti ans which are set forth in Section 7 .o4 of the Trust Indenture relating to the i ssuance of parity Bonds , in that adjustment has been made in ARTICLE J;'OUR of this instrwnent of the semiannual deposits into the Bond and Insterest Sinkj_ng Fund, adjustment has been made of the amount of the Debt Service Reserve , and adjustment has been made of the maximum amount to be deposited into the System Repair and Replacement Reserve, as well as of the amount to be accumulated therein . The Series D Bonds are payable as to principal on February 1 of each year in which pr incipal falls due , and are payable as to interest on February 1 and August 1 of each year in compliance with sub-paragraph (d) of Section 7. 04 of the Trust Indenture . Section 7.05 . It is acknowledged that the conditions and provision set forth in Section 7.05 of the Trust Indenture continue in force and effect and are aoplicable to the Housing System as enlarged and expanded by the addition thereto of the buildirn: s , facilities , and appurtenances I �- 3 81 of the aforesaid Project 62(D) . ARTICLE EIGHT SUPPLEMENTAL INDENTIJRES Section 8 . 01. I All of the terms and provisions of ARTICLE FIGHT of the Trust Indenture continue in full forcP and effect and no adjustment thereof is required • ARTICLE NINE REMEDIES Section 9. 01 . All of the terms and provisions of ARTICLE NINE of the Trust Indenture continue in full force and effect and no adjustment thereof is required . ARTICLE TEN RELEASE AND DISCHARGE OF INDENTUn.E Section 10. 01 . All of the terms and provisions of ARTICLE TEN of the Trust Indenture continue in fu:l force and effect and shall include and be applicable to this Supplemental Trust Indenture as well as the Trust I Indenture . ARTICLE ELEVEN CONCERNING THE TRUSTEE Section 11. 01 . All of the terms and provisions of ARTICLE ELEVEN of the Trust Indenu.ire continue in full force and effect, and by its execution of this Supplemental Trust Indenture the Trustee affirms its acceptance thereof as related to the Housing System, as enlarged and expanded through the addition thereto of the build'ngs , facilities, and appurtenances of the aforesaid Pr oject 62(D) . ART [CLE TWELVE MISCELLANE.OOS PROVISIONS I Section 12 . 01 . All of the terms and provisions of ARTICLE TWELVE of the Trust Indenture continue and no adjustment thereof is required . ARTICLE THIRTEEN IDENTIFICATION OF THE HOO S::IG SYSTEM Section 13. 01. The "Housing System" as referred to throughout this Supplemental Trust Indenture, is hereby identified as comprising all of those certain buildings, faci lities, and aopurtenances for housing and �and dining purposes, which are identified with particularity in the Trust Indenture , and, additionally, all of the buildings , facilities , and appurtenances for housing and dining purposes which have been comoleted, or are under construction, under the provisions of the Board's Loan Agr eement with the United States of America, acting through its Housing and Home Finance Administrator , Community Facilities Corrrnissioner, dated June 1 , 1962, identified as Project No . CH -Ky-62(D) , Contract No . H- 302-842, I being the buildings, facilities, and aopurtenances described in this Supplemental Trust Indenture and in the Series D Bonds. For convenience, the names and locations of all of the aforesaid buildings , and facilities now consti~uting said Housing System are shown on a map of the campus of the College, a copy of which is attached hereto; but it is not represented by the Board that said attached map is exact or that it made from a survey of the lands and buildings shown thereon; and if it be shown that any dis crepancy exists, the identities of the respective buildings and facilities, and their actual locations, shall be c ntrolling . IN WITNESS WHillEOF, the party of the first part has caused its corporate name to be hereunto subscribed by its Chairman and its corporate seal to be hereto affixed, and said seal to be attested and this Inden- I ture to be countersigned bf its Secretary, and said STATE BA!\K AND TRUST COMPJ-\NY OF RICHMOND, KtNTUCKY, to evidence its acceptance of the trusts hereby created and vested in it, has caused its corporate name to be hereunto subscribed by its President or by one of its Vice Presidents, and its corporate seal to be hereto a:fixed and said seal to be attested and this Indenture to be countersigned by its Trust Officer or an Assistant, all as of the day and year first above written, but actually on this 9th day of January, 1963 . BOARD OF REGENTS OF EASTERN KENTUCXY STATE COLLEGE Richmond , Kentucky (SEAL) By ATTEST : Chairman Countersigned : Secretary STATE BANK AND TRUST COMPANY OF RI~HMOND, KENTUCKY B-..,__ _ _ _ _ _ _ _ _ _ _ _ __ _ __ (Siena ture) I �(SEAL) (Title of Off icer ) ATTEST : Count er signed: I (Signature) (Title of Officer ) STATE OF KENTUCKY COUNTY OF On this ) •• ss ) day of January , 1963 , bef ore me, the undersigned , a Notary Public in and for said County in the State afor esaid, appeared Wend.ell P. Butler and J. C. Powell, to me personally known and t 'O me known to be t he Chairman and Secretary, respectively, of t he BOARD OF REGENTS OF EASTERN KENTUCKY STATE COLLEGE , one of the corporations de scribed in and I which execut ed the within and for egoing instrument and who being by me severally duly sworn , did say that he , the said Wendell P~ Butler, is the Chairman of said Board of Regents , and he , the said J . C. Powell , is the Secretary of said Board of Regents ; that the real affixed to the wit hin and for e going instrument is the corporate seal of said Corporation , that said instrument was executed, signed and sealed in behalf of said Corporation by authority of its Board of Regents ; and s aid Wendell P. Butler and J . C. Powell each acknowledged the execution of said ins t rument to be , and said instrument t o be , the fre e and voluntary act and deed of said Corpor ation by it volunt arily executed . WITNESS my hadd I and notarial seal this - - -day of January , 1963 . Notary Public in and for the County and Stat e af oresaid My commi s sion expires : �STATE OF KENTUCKY ) COUNTY OF MADISON ) ss On this ____day of January, 1963, b~fore me , the undersigned , a Notary Public in and for sud County in the State aforesa :d , appeared and ' to me personally known and to me known to be the am _____________ _ _ , respectively, of STATE BANK AND I TRUST COMPANY OF RICHMOND , KENTUCKY, one of the corporations described in and which executed the within and foregoing instrument , and who being by me severally duly sworn each for himself did say that he, the said is the tion, and he, the said ------ -------------- of said corpora- ----------------- , is -------- of said corporation; that the seal affixed to the within and foregoing instrument is the corporate seal of said corporation , that said instrument was executed, signed and sealed in behalf of said corporatim by authority of its Board of Directors; and said and ---------- each acknowledged the execution of said ---------------- instrument to be , and the said instrument to be , the free and voluntary act and deed of said corporation by it voluntarily executed . WITNESS my hand and notarial seal , this --- I day of J anuary, 1963 . Notary Public in and for the County and State aforesaid My Commission expires : 4. Section The Secretary of this Board is hereby authorized and directed to cause appropriate notice to be published one time in the Courier-Journal, a daily newsoaper published in Louisville, Kentucky, and of general statewide circulation throughout the Commonwealth of Kentucky, and one time in The Bond Buyer, a f inancial journal oublished in New York , New York, of general circulation among bond buyers throughout the United States of America, soliciting sealed competitive proposals for the purchase of said Series D Bonds , the same to be received in the office of the President in Richmond , Kentucky, until some day and hour - - - - - - - - - - - - - - I �- . 385 when the Boar d of Regents will be in session, and the publication in each thereof shall be caused to appear not less than seven (7) nor mo re than twenty- one (21 ) days in advance of the date therein stated for the opening and consideration of such proposals . In said notice purchasers shall be instructed that pr oposals may be for the purchase at not less than par and I accrued interest of (a) the entire $3,187 , 000 of authorized Series D Bonds; or for all or any of the following blocks thereof : (b ) (c) (d) (e) (f ) (g ) Seri es Series Series Series Series Ser ies D Bonds D Bonds D Bonds D Borns D Bonds D Bonds maturing maturing maturing maturing maturing maturing in in in in in in the the the the t.he the years years years years years years 1965 1973 19'/tl 1983 1 988 1993 to to to to to to 1972 , 1977 , 1982 , 1987 , 1992 , 2002 , inclusive ; inclusive; inclusive; inclusive ; inclusive; inclusive ; that the bidder s may stipulate one or mo:-e int er est coupon rates with re~pect to said Series D Bonds providing the ai_·gregate interest cost does not exceed three and thr ee- eighths per cent (3- 3/3%) per annum ; that only one coupon rate may be stipulated for the Series D Bonds maturing on the same date , and that the Board will not entertain any proposal that i nterest due on any Bond on any interest payment dat e be represented by more t han one coupon . I The right to reject bids shall expressly be reserved . Section 5 . Bond Counsel employed by the College may f orthwith s end the necessar y material to a qualified bond printing company known to be able to prepare bonds accordin? to HnFA specifications as to quality of workmanship and materials, with instructions to proceed with the preliminary preparation of the Bonds of Series D, the same to be completed as soon as possible after the public sale of said Series D Bonds to the end that the entir e $3, 187 , 000 ther eof may be availabl e for execution and delivery at the earliest oossible date . When the Bonds have been comnleted and are available, they shall be executed on behalf of the Board of Regents and authenticated by the Trustee in the manner set forth in the Tr ust Indent.ure , and in this Sunolemental Trust Indenture ; and thereafter t he prope r officers of the Board and of the I College shall be and they are hereby authorized , to deliver the same to the purchaser or purchasers thereof upon payment of the pruchase price , or pr ices . Section 6 . This Resolution shall be in full force and effect from and after its adoption . ADOPTED BY THE BOARD OF REGENTS OF EAST.IBN KENTUCKY STATE COLI.EGE at a meeting held on the 9th day of January , 1963. / a/Thomas B. McGregor Acting Chairman Board of Regents Eastern Kentucky State College �(SEAL) ATTEST : /s/ J . C. Powell Secretary Full discussion followed and the Chairman thereupon put the question , I and upon call of the r oll the vote was recorded, as follows : Voting "Aye 11 : Mr . Sidney W. Clay Mr . F. L. Dupree Mr. Thomas B. McGr egor Mr. Wilson Palmer Dr. Russell I. Todd Voting "Nay" : None Whereupon the Chairman declared that the motion was carried and that the Resolution had been adopted and was in full force and effe ct. At this point and in the presence of the Boar d , the Chairman signed the aforesaid Resolution, and the same was attested under seal by the Secretary of the Boa rd . Board Member Todd moved immediate adoption of a pr oposed Resolution, I as follows , seconded by Board Member Palmer : A RESOLUTION APPROVING GER TA TN INSTRUMENTS AND DOCUMENTS TENDERED BY BOND COUNSEL FOR THE PURPOSE OF IMPLEMENI'ING PROCEilJRES AND COMMITMENTS WHICH HAVE BEEN AuTHORI?ED BY THE BOARD . THE BOARD OF :1.EGENTS OF EA...,TERN KENTUCKY STATE COLLEGE, RICHMOND , KENTUCKY, HEREBY RESOLVES, AS FOLLOWS : Section 1. That the follow·.ng instruments and documents , drafted by Bond Counsel and tendered for the purnose of implementing procedures and commitments heretofor e authorized by the Board , are declared to have been examined and found to be satisfactory in form and substance; and the execution (acknowledgment if appropriate), delivery and/or dissemination ther eof for the respective indented purposes and oy the appropriate indicated officer s of the Board and of the College are hereby approved and authorized : (i) The "Notice of Sale of Bonds" incident to the public offering of the $3,187 , 000 "Housing System Revenu e Bonds of 1962 , Series D"; (ii) The "Statement of Tenns and Conditions of Bond Sale " which is supplemental thereto ; (iii) The "Official Bid Form 11 • I �- 3 87 Section 2. A copy of each of the instruments and documents enumer ated in Section 1 of this Resolution shall be preserved by the Secretary as a permanent record of the Board , but the same need not be copied in full in the mi nutes of this meeting . I J. This Resolution shall be in full force and effect f r om Section and after its adoption . full dis cussion followed and the Chairman thereupon put the question , and unon call of the roll the vote was recorded , as follows : Voting "Aye ": Mr . Sidney W. Clay Mr . F. L. Dupree Judge Thomas B. McGregor Mr. Wilson Palmer Dr . Russell I . Todd Voting 11 Nay" : None Whereupon the Chairman declared that the motion was carried and that the Resolution had been adopted and was in full force and effect. FINANCIA L REPORT The Board was presented with a report of the Financial Statement of I the College f r om July 1 , 1962, through December 30, 1962 . ADJOURNMENT Mr. Wilson Palmer moved that this meetine of the Board of Regents be adjourned over to convene again in the office of the President of the College on the 20th of February, 1963 , at the hour of 11: 00 A. M. , EST, for the purpose of receivi ng , opening, considering, and taking action upon any purchase proposals which may at that time have been received for the Board ' s $3 , 187 , 000 "Housin g System Revenue Bonds of 1962, Series D, 11 as authorized at this meeting ; that the Secretary be authori zed and directed to cause the authorized "Notice of Sale of Bonds , 11 to be published in advance of said date in accordance with KRS Chapter 424; and that said adjournment be also for the purpose of considering and taking a ction upon any and all other I pr oper business which may come before the Board at that time . Said motion was seconded by Mr . Sidney W. Clay, and after full discussion the Chairman put the question and the same was unanimously adopted . The Chairman then de clared ~hat the meeting was adjourned to reconvene at the time and place and for ~he purposes state motion . Signed-=---=+-~-"--:~~~;_:::~--- Regents �- 388 Eastern Kentucky State College (Meeting of January 9, 1963) Approv1;d : , Judge Thomas B. McGrecor Acting Chairman Bourd of Regents . ,· I JCP/dhw I I � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource EKU Board of Regents Records Subject The topic of the resource Eastern Kentucky University Description An account of the resource This collection consists of records relating to the Board of Regents and includes minutes, agendas and supporting documents. Only parts of the collection have been digitized at this time, but more will be added until all minutes are available. This collection is invaluable to anyone researching the history of Eastern Kentucky University. Creator An entity primarily responsible for making the resource Eastern Kentucky University Date A point or period of time associated with an event in the lifecycle of the resource 1906-present Format The file format, physical medium, or dimensions of the resource minutes Language A language of the resource eng Type The nature or genre of the resource text Identifier An unambiguous reference to the resource within a given context 0001-010 Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Source A related resource from which the described resource is derived Board of Regents Records Creator An entity primarily responsible for making the resource Eastern Kentucky State College Date A point or period of time associated with an event in the lifecycle of the resource 1/9/1963 Title A name given to the resource Board of Regents Minutes Description An account of the resource Pages 323-324 Todd (Russell I.) Hall Named Pages 323-324 Dupree Hall Named for F.L. Dupree Page 324 John L. Vickers Appointed as Executive Assistant Pages 324-325 Development Coordinator Office created Page 329 Personnel Activities Pages 329-330 Bessie Harris Griggs Death Page 331 Fitzpatrick Arts Building Foundation problem Pages 331-332 Tropical Huts Relocation Pages 332-333 Model Laboratory School Playground development Page 333 Kit Carson Drive Completion Pages 333-334 Hanger Stadium Bleachers completed Pages 334-336 Rental of University Facilities Effective July 1, 1963 Page 335 Kentucky School Boards Association Membership Pages 336-337 Revenue Bonds Cremation of Pages 337-340 Insurance On buildings and property Page 341 Property Purchase of Rufus Brown property Page 341 President's Seal Use Pages 343-344 Coates Administration Building Renovation Pages 344-387 Revenue Bonds Series D Format The file format, physical medium, or dimensions of the resource minutes Language A language of the resource eng Type The nature or genre of the resource text Identifier An unambiguous reference to the resource within a given context bor-minutes-1963-01-09