The National Football Foundation selected 11 greats as its 1983 induction class for the college football Hall of Fame, but when the ceremonies are conducted Dec. l6, only 10 will be honored. Billy Cannon has been ruled out.

Cannon, LSU's 1959 Heisman Trophy winner chosen this February for the hall, has been rejected by the foundation's 18-member executive board for his recent admission he dealt in counterfeit $100 bills.

Vincent dePaul Draddy, hall chairman, cited policy that candidates must be "great football players but also good citizens . . ." Cannon seemed to be that, as a Baton Rouge orthodontist, until his arrest July 9 . . .

Before the accolades go national on Pro Football Hall of Fame induction day July 30 in Canton, Ohio, the Touchdown Club of Washington gives Sonny Jurgensen and Bobby Mitchell a foretaste at lunch today. Irv Cross, Tommy McDonald, Larry Brown, Dick Schafrath will reminisce for the audience . . . At the D.C. Coaches Association's all-star luncheon, National High School Coaches Association honored the District's longtime a.d., Frank Bolden . . . Maryland ex-coach Tommy Mont, a Terrapin and (pre-Jurgy) Redskin quarterback, is the 1983 alumni faculty awardee at DePauw in Greencastle, Ind., where he has been a.d. since 1972.