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Part of Minutes of the University of Kentucky Board of Trustees

9 Upon motion duly made, seconded and carried, the report was author- ized received and made of record. D. Mr. Peterson Commended. Mr. Harper Gatton called attention of the members of the Board of Trustees that seventeen years ago the Board appointed Frank D. Peterson to the position of Comptroller of the Department of Business Management and Control, and upon motion duly made, seconded and carried, a Resolution of Commendation was authorized written by Mr. Harper Gatton and spread upon the minutes. RESOLUTION On April first, 1941, the Board of Trustees of the Uni- versity of Kentucky employed Frank D. Peterson to a posi- tion of responsibility. The members of the Board and all others who are acquaint- ed with the progress made by the University in these 17 years are aware of Mr. Peterson, s faithful, tireless service. His business judgment and attention to the management of the University have impressed all who are acquainted with the University affairs, Therefore, it is moved that the Board of Trustees commend Vice President Peterson for the satisfactory, efficient manner in which he has conducted the business and responsibilities of his office, and that this Resolution be included in the Minutes. Mr. Peterson thanked the Board for the surprise motion of commenda- tion. E. Sale of Surplus Property. Mr. Peterson reported that the College of Engineering, Department of Electrical Engineering, had declared one large induction regulator surplus to their needs. He recommended that the equipment be disposed of by taking competitive bids. Upon motion duly made, seconded and carried, the Board concurred in the recommendation, F. Parietal Rules and Rental Rates for Holmes Hall Authorized. Mr. Peterson reported that in the Loan Agreement made between the diversity of Kentucky and the Housing and Home Finance Agency for a loan for the construction of Holmes Hall, the University agreed to establish and main- tain such parietal rules, rental rates and charges for the use of the project as might be necessary to assure maximum occupancy and necessary to provide funds to service the debt, including the reserve required under the Agreement.

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