Fairfax prosecutor Robert F. Horan said yesterday he plans no investigation of a former George Mason University board member who participated in deliberations that led to his employer securing a contract from the Northern Virginia school.

Horan made the comment after he was asked about a Washington Post article which noted that Stanley E. Taylor of Alexandria participated in the discussions despite written opinions from an Alexandria prosecutor and the state attorney general's office advising him against involvement with any contract between the school and the architectural firm that employed him. The two state lawyers said that Taylor's participation in the deliberations would be improper because he had "a material financial interest" in the architectural firm.

Horan said he saw nothing wrong with Taylor participating in deliberations because Taylor lacked authority to approve the transaction. "There's a specific exemption in the act that if you don't have any power over the letting of the contract, then the law doesn't apply," Horan said.

Taylor, appointed to the state-supported university's board in 1979, resigned from his post in January, citing increased responsibilities at his employer, VVK&R Inc. State auditors are probing the $16,500 architectural contract that Taylor and several university officials have said was properly let.