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[9]

Part of Minutes of the University of Kentucky Board of Trustees

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8 BONDS NMOMERED PRINCIPAL AMOUNT DATE OF MATURITY (inclusive) 397-426 $30,000.00 April 1, 1966 427-456 830,000.OO April 1, 1967 457-486 $30,000.00 Anril 1, 1968 487-500 ~l4,O0O.O April 1, 1969 provided, however, that any of said bonds numbered from one hundred and one (101) to five hundred (500), inclusive, shall be redeemable prior to stated maturities, as a whole or from time to time in part, in the inverse order of their nurffber- ing, on April 1, 1954, or on any interest payment date there- after providing a notice specifying the bonds to be redeemed shall have been on file at the place of payment of princi- pal and interest at least thirty (30) days prior to the specified redemption date and provided also that such notice shall have been published at least once not less than thirty (30) days prior to the redemption date in a newspaper having general circulation in Kentucky. In the event any of the bonds dall be called for redemption in the manner above set forth, the University of Kentucky shall pay to the owner and holder of each such bond the face amount thereof to- gether with interest to the redemption date at the applica- ble coupon rate and together with additional interest which shall be in the sum of Twenty-five Dollars ($25.00) per bond if the redemption date is prior to April 1, 1957; Twenty Dollars ($20.O0) per bond if the redemption date is on or after April 1, 1957, but prior to April 1, 1960; Fifteen Dollars (Q15.00) per bond if the redemption date is on or after April 1, 1960 but prior to April 1, 1963; Ten Dollars (10,00) per bond if the redemption date is on or after April 1, 1953 but prior to April 1, 1966; and Five Dollars CW5.00) per bond if the redemption date is on or after April 1, 1966. If, on or prior to the specified redemption date, the University of Kentucky shall deposit at the place of payment of said bonds the amounts then due to the bondholders as herein provided, the bonds called for redemption shall cease to bear interest as of the redemption date. Section 2. Said bonds shall be signed for and on behalf of the SBoard of Trustees of the University of Kentucky by the Chairman of said Board of Trustees, at- tested by its Secretary, and sealed with its corporate seal, and the interest coupons attached to said bonds shall be executed with the facsimile signatures of said Chairman and Secretary, and said bonds, together with the interest thereon, shall be payable in lawful money of the United States of America at the principal office of the Security Trust Company Bank in the City of Lexington, Frayette County, Kentucky, but only out of the "Library