draft mailed by regular United States mail, postmarked no later
than the due date thereof, by the Trustee to the Registered Owner
and at the address shown as of the 15th day of the month preceding
such interest payment date on the Bond Register kept by the
Trustee, which is also the Bond Registrar.

          This Series M (Second Series) Bond and the issue of which
it is a part is issued under and pursuant to a Resolution adopted
on September 20, 1960 (the "Resolution"), and a Series M (Second
Series) Resolution adopted on December 14, 1993 (the "Series M
[Second Series] Resolution"), and in full compliance with the
Constitution and Statutes of the Commonwealth of Kentucky, includ-
ing among others, Sections 162.340 to 162.380, inclusive of the
Kentucky Revised Statutes now in full force and effect.

          As provided in the Resolution, bonds may be issued from
time to time pursuant to separate resolutions in one or more
series, in various principal amounts, may bear interest at differ-
ent rates and may otherwise vary as in the Resolution provided.
The aggregate principal amount of bonds which may be issued under
the Resolution is not limited except as provided in the Resolution,
and all bonds issued and to be issued under the Resolution are and
will be equally secured by the pledges and covenants made therein,
except as otherwise expressly provided or permitted in the Resolu-
tion.  As of the date hereof, there are outstanding Series C,
Series D (Refunding), Series E, Series I, Series J, Series K,
Series L, Series M and Series N, Series F (Second Series), Series
G, Series H and Series I (Third Series), and Series K (Second
Series). All series of Bonds heretofore and hereafter issued and
outstanding, including the Series M (Second Series) Bonds, under
and pursuant to the Resolution are hereinafter referred to as the
"Bonds."

          This Bond is one of a series of Bonds in the aggregate
principal amount of SIX MILLION SIX HUNDRED EIGHTY THOUSAND DOLLARS
($6,680,000) principal amount of bonds (hereinafter collectively
referred to as the "Series M [Second Series] Bonds") authorized to
be issued by the Board for the purpose of financing (i) the refund-
ing and redemption on November 1, 2001, of said Series M Bonds
maturing on and after May 1, 2003, (ii) the funding of the Bond
Fund Reserve (referred to in the Resolution) if necessary to bring
the amount held therein equal to the maximum Aggregate Principal,
Interest and Bond Fund Charges (defined in the Resolution) on the
outstanding Bonds, and (iii) the cost of issuance of the Series M
(Second Series) Bonds.

          Copies of th; Resolution and the Series Resolutions
authorizing each Series of the Bonds are on file at the office of
the Trustee.  Reference i.s hereby made to the Resolution pursuant
to which the Trustee has been designated for the owners of the
issue of Bonds of which this Series M (Second Series) Bond is one
and for the provisions, among others, with respect to the custody
and application of the proceeds of the Bonds; the rights, duties
and obligations of said Board of Trustees and of the Trustee, and



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