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Raleigh, North Carolina
Governor's Office
April 10, 1963

The Executive Committee of the Board of Trustees of the University of North Carolina met in Special Session in the Governor's Office, State Capitol Building, Raleigh, at 10:30 o'clock, A.M., Wednesday, April 10, 1963, Governor Sanford presiding, Billie Curtis, Assistant Secretary. The following members were present: Mrs. Lathrop, Mrs. Parker, Messrs. Pearsall, Barber, Noble, Taylor, Maynard and Hill.

Also present were: President Friday, Messrs. Anderson, Shepard and Weaver of the Consolidated University office, and Chancellors Caldwell and Aycock.

New Football Stadium at State College

President Friday stated that the purpose of the meeting was to consider a proposed new football stadium at State College, and he called on Chancellor Caldwell who presented a proposal to finance the building of the stadium by the issuance of revenue bonds in the amount of $2,000,000 with the passage of an enabling act by the General Assembly presently in session. Mr. Roy Clogston, State College Athletic Director, Mr. Frank Turner of the State Department of Administration, and other interested persons were present at the meeting and some of them took part in the discussion which followed.

The members of the Executive Committee were concerned with the proposal to pledge student fees toward the repayment of the bonds, and it was brought out that a possibility exists that student fees would have to be increased in order to retire the bonds.

After considerable discussion, Mr. Taylor moved "That the Executive Committee endorse the bill for presentation to the General Assembly, but without prejudice to its subsequent decision as to whether or not the authority contained in the bill as drawn be used, and to what extent."

The motion of Mr. Taylor was duly seconded and it was unanimously adopted.

After a brief oral report by President Friday concerning other University matters, the meeting then adjourned.

Arch. T. Allen [signature]
Secretary