G. Approval of Expenditure - New Residence Hall (Security Cameras) (Action Item)
CFO Shields provided an overview of the requested expenditure. He noted that the security cameras would be for the interiors of the residence hall and that a quoted price had not yet been provided.
Regent Hatchett expressed concern about voting on something for which he does not know the final cost.
CFO Shields then corrected himself, noting that the cost for the cameras would be approximately $146,000. Dr. Wendy Dixie clarified that the quoted price covers the cost of installation for the interior and exterior cameras.
MOTION by Regent Fields:
Move to approve the expenditure for new residence hall security cameras.
The motion was seconded by Vice Chair Walston and passed without dissent.
H. Approval of Resolution - Kentucky River Thorobred (Action Item).
CFO Shields provided an overview of the resolution, including background information on the Kentucky River Thorobred vessel. He advised that the resolution seeks to dispose of the original vessel and replace it with a smaller vessel that will be used for research purposes.
Regent Fields asked Director Pomper to confirm that the larger boat would be replaced by a new, smaller boat.
Vice Chair Walston asked if Land Grant had already sought approval from the USDA. Director Pomper stated that is the first step once the Board approves the resolution.
MOTION by Vice Chair Walston:
Motion to approve the Kentucky River Thorobred resolution.
The motion was seconded by Regent Fields and passed without dissent.
I. Approval of Resolution – Old Federal Building
CFO Shields provided an overview of the building. He advised that because the University lacked the funds necessary to repair and maintain the building, the resolution sought approval to sell the building.
General Counsel Lang clarified that the resolution was not necessarily seeking approval to dispose of the building, but rather approval to evaluate the University's options regarding the building.
Chair Patton expressed his belief that the resolution should be tabled until the language is amended. General Counsel Lang opined that because the resolution was being discussed at a regularly scheduled meeting, the Board could elect to amend the language of the resolution during the meeting.
Vice Chair Walston stated that the University would have to inform the federal government and explain why the University cannot retain the building.