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