Bonds affords to the University of Kentucky such quantum of

monetary savings as shall be deemed proper and desirable in

the circumstances.

    Section 8. This Resolution shall be in full force and

effect immediately upon its adoption.

    ADOPTED  February 20, 1973.




                                          Chairman
                                        Board of Trustees
                                     University of Kentucky

(SEAL)




     Secretary


                        CERTIFICATION


    The undersigned, Secretary of the Board of Trustees of

the University of Kentucky, hereby certifies that the foregoing

is a true copy of a Resolution duly adopted by said Board of

Trustees at a duly convened meeting of said Board, held on

February 20, 1973, a quorum being present for the transaction

of business; that the same has been duly recorded in the

official Minute Book of said Board; and that the same is in



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