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[277] > Image [277] of Minutes of the University of Kentucky Board of Trustees, 1993-09-dec14.

Part of Minutes of the University of Kentucky Board of Trustees

ARTICLE I. AUTHORITY AND DEFINITIONS Section 1.01 Authority of Original Resolution. This Resolution (hereinafter referred to as the "Series M [Second Series] Resolution") is adopted in accordance with Article II, Section 2.03 of the Basic Resolution. Section 1.02. Definitions of Resolution Reaffirmed. (a) All terms which are defined in Article I of the Basic Resolution shall have the same meanings, respectively, in this Series M (Second Series) Resolution as such terms are given in said Article of the Basic Resolution. (b) In this Series M (Second Series) Resolution, Series M (Second Series) Bonds shall mean the Bonds authorized by Article II of this Series M (Second Series) Resolution. Section 1.03. Statutory Authority. This Series M (Second Series) Resolution is adopted pursuant to the provisions of Section 162.340 through 162.380 and 58.010 through 58.140 of the Kentucky Revised Statutes and the Resolution. ARTICLE II. AUTHORIZATION, PURPOSE AND TERMS OF SERIES M (SECOND SERIES) BONDS Section 2.01. Authorization of Series M (Second Series) Bonds on a Parity with Series C through N Bonds. Pursuant to the provisions of the Resolution there is hereby authorized to be issued by the Board of Trustees of University of Kentucky, in its corporate capacity, a series of bonds in the aggregate principal amount of SIX MILLION SIX HUNDRED EIGHTY THOUSAND DOLLARS ($6,680,000) (plus or minus up to $665,000). Such Bonds shall be designated as "University of Kentucky Consolidated Educational Buildings Refunding Revenue Bonds, Series M (Second Series)." Said Series M (Second Series) Bonds are hereby declared to have been authorized under the Resolution and in conformity with the provi- sions of Section 7.10 of the Resolution. The Board hereby repre- sents that the conditions prescribed in Section 7.10 of the Resolution will have been complied with before the time of issuance of the Series M (Second Series) Bonds, and that the Series M (Second Series) Bonds are issued on a basis of parity with the Series C through N Bonds. Section 2.02. Purpose of Series M (Second Series) Bonds. Said Series M (Second Series) Bonds are being issued for the purpose of 'i) redeeming on November 1, 2001, $5,865,000 principal amount of Series M Bonds maturing on and after May 1, 2003, at a redemption price of 102% of the principal amount of Series M Bonds being redeemed, plus accrued interest to date of redemption, and to pay the interest accruing thereon to and including November 1, 2001, through the deposit in escrow with the Trustee of the net proceeds of the Series M (Second Series) Bonds herein authorized and other funds that may be made available for such purpose, for 3