E. Bidder: Morgan Guaranty Trust Company of New York
            New York, New York



  Bonds
Maturing
May 1,

1986-2003



Aggregate
Principal
Amount
Sought

$8,500,000



Coupon
Rate
Offered

8.75%



  Net
Interest
  Cost

8.&8154%



WHEREAS, the Executive Committee has considered
the matter of which bid is most advantageous to
the Board;



NOW, THEREFORE, THE EXECUTIVE COMMITTEE HEREBY
RESOLVES AS FOLLOWS:

1.   that the proposal of Seasongood & Mayer, as
follows, for the purchase of the $8,500,000
"University of Kentucky Consolidated Educational
Buildings Revenue Bonds, Series H," dated March 1,
1983 ("the Series H Bonds") is hereby accepted as
the highest and best bid:



  Bonds
Maturing
May 1

  1986
  1987
  1988
  1989
  1990
  1991
  1992
  1993
  1994
  1995
  1996
  1997
  1998
  1999
  2000
  2001
  2002
  2003



Coupon
Rate

6. 75%
6. 75%
6. 75%
6. 75%
6. 75%
7 . 00%
7 . 20%
7. 40%
7 . 60%
7. 80%
8. 00%
8.20%
8 . 40%
8.60%
8. 70%
8. 70%
8. 70%
8. 70%



Aggregate
Principal
Amount

$215,000
235,000
250,000
265,000
290,000
310,000
340,000
365,000
400,000
435,000
475,000
525,000
575,000
630,000
690,000
755,000
830,000
915,000



Net Interest Cost = 8.435319%



4