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Part of Minutes of the University of Kentucky Board of Trustees

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A RESOLUTION OF THE BOARD OF TRUSTEES OF THE UNIVER- SITY OF KENTUCKY AUTHORIZING THE REFINANCING AT A LOWER INTEREST COST TO THE UNIVERSITY OF ALL OUT- STANDING AND CALLABLE "UNIVERSITY OF KENTUCKY CON- SOLIDATED EDUCATIONAL BUILDINGS REVENUE BONDS, SERIES Dv, DATED MAY 1, 1971; APPROVING, SUBJECT TO FINAL REFINEMENT AND COMPLETION, A RESOLUTION AUTHORIZING "UNIVERSITY OF KENTUCKY CONSOLIDATED EDUCATIONAL BUILDINGS REFUNDING REVENUE BONDS, SERIES D", DATED MARCH 1, 1973, AND AN OFFICIAL STATEMENT IN RESPECT OF SUCH REFUNDING ISSUE; AUTHORIZING THE FINANCIAL ADVISOR TO THE UNIVERSITY TO PROCEED WITH THE IMPLE- MENTATION OF THE PROJECT; AND AUTHORIZING AND DIRECTING THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES TO RECEIVE, CONSIDER AND ACCEPT, IN THE SOUND DISCRETION OF SAID EXECUTIVE COMMITTEE, PRO- POSALS FOR THE PURCHASE OF SUCH REFUNDING BONDS. WHEREAS, under date of May 1, 1971, pursuant to authoriza- tion by this Board of Trustees, there were issued $34,700,000.00 principal amount of "University of Kentucky Consolidated Educa- tional Buildings Revenue Bonds, Series D" (the "Series D Bonds"); and WHEREAS, all of said Consolidated Educational Buildings Revenue Bonds, Series D, maturing on and after May 1, 1982, are subject to redemption at the option of the Board of Trustees on May 1, 1981, at a redemption premium of three percent (3%), and on May 1, 1981, $32,145,000.00 principal amount of said Series D Bonds will be outstanding and redeemable; and - 1 -