General Counsel Lang opined that the Board should amend the resolution so that CFO Shields is given signatory authority and presidential authority must be given before any action is taken concerning the endowment account.
MOTION by Regent Fields:
Move the Board to approve the authorized signatory resolution (as amended).
The motion was seconded and passed without dissent.
MOTION by Regent Moseley:
Move the Board to enter closed session to discuss pending litigation pursuant to KRS 61.810(1)(c).
The motion was seconded and passed without dissent.
MOTION by Regent Moyer:
Move the Board to enter open session.
The motion was seconded and passed without dissent.
Chair Patton stated that the Board entered closed session to discuss pending litigation and that no action was taken during the closed session.
Chair Patton gave his closing remarks.
MOTION by Regent Mosley:
Move the Board to adjourn.
The motion was seconded by Regent Ramsey and passed without dissent.