NOTICE OF SALE OF BONDS



                            $11,250,000
                      UNIVERSITY OF KENTUCKY
      COMMUNITY COLLEGES EDUCATIONAL BUILDINGS REVENUE BONDS
                             SERIES I
                      DATED SEPTEMBER 1, 1991

          The Treasurer of the Board of Trustees of the University
of Kentucky, Lexington, Kentucky, will until September 17, 1991, at
10:30 A.M., E.D.T., receive in the Office of the Controller and
Treasurer, 369 Peterson Service Building, University of Kentucky
Campus, Lexington, Kentucky 40506, sealed, competitive bids for the
purchase of $11,250,000 of the above-identified Series of bonds,
maturing on May 1, 1992 through 2011.   Minimum bid is $11,025,000
(98% of par). Legal Opinion by Rubin Hays & Foley, Louisville,
Kentucky. The Bonds will be issued on a tax-exempt basis, subject
to certain qualifications set out in detail in the Official Terms
and Conditions of Sale of Bonds and in the Preliminary Official
Statement.  Good faith check is $112,500.      Bid Forms, Official
Terms and Conditions, and Preliminary Official Statements in a form
deemed to be "near final" by the Board may be obtained from the
Fiscal Agent, Seasongood & Mayer, 300 Mercantile Library Building,
414 Walnut Street, Cincinnati, Ohio 45202-3910, (513) 621-2000.

          Right to reject bids and to waive defects or informali-
ties is expressly reserved.   (Signed) Henry Clay Owen, Treasurer,
Board of Trustees, University of Kentucky, Lexington, Kentucky
40506.