OFFICIAL BID FORM

                                $5,500,000
                           UNIVERSITY OF KENTUCKY
                 COMM UNITY COLLEGES EDUCATION BUILDINGS
                             REVENUE BONDS. SERIES C


                                                                   ____  ,1974

To the Honorable Chairman and Members
   of the Board of Trustees of the
   Univ ersity of Kentucky
University of Kentucky
Lexington, Kentucky

Gentlemen:

           We have observed your published "Notice of Sale of Bonds" concerning
the submission of sealed, competitive bids for the purchase of all or none of
your $5, 500, 000 "Community Colleges Educational Buildings Revenue Bonds,
Series C, " dated February 1, 1974, and have obtained, examined and are
familiar with further details and conditions relating to your public offering
of said Bonds as set forth in your "Official Statement" in connection therewith.
By our submission of this bid wnte agree to all oi the ternis and conditions
set forth in said instruments.

           We hereby offer to purchase from you the entire $5, 500, 000 of said
Series C Bonds; and to pay you therefor the sum of $     _    (not less than
$5, 390,000), with interest from February 1, 1974, to delivery, subject to your
establishment of the respective interest coupon rates set forth below.

           The Series C Bonds are to be dated February 1, 1974, and shall
mature on NMay I of the respective years, and bear interest at the respective
coupon rates, as follows:

                 Coupon                      Coupon                      Coupon
Year  Amount       Rate     Year   Amount      Rate     Year   Amount      Rate

1975  $ 70,000         %    1985   $130,000         %   1995   $220,000         %___
1976     75,000 oo     %    1986    135,000   _    's   1996    235, 000  _lo_
1977     80,000        %    1987    145,000         %   1997    250,000   _   o
1978     85,000        so   1988    150,000   _____     1998    265,000   _     lo
1979    90,000         %    1989    160,000         %   1999    280,000   ____
1980    100,000        %    1990    170,000         %   2000    295,000   __'
1981    100,000  _   _      1991    180,000         %   2001    310,000        %
1982    110,000   _         1992    190,000         %   2002    330,000        %
1983    115,000        %    1993    200,000         %   2003    345,000         %__
1984   1 20,000  _    '     1994    210,000   _     o   2004    350,000         t_    0

           This bid is made with the understanding that the Board of Trustees wvill
furnish without cost to the successful bidder the unqualified approving legal
opinion of Grafton, Ferguson, Fleischer & Harper, Lawyers, of Louisville, Kentucky,
the executed Bonds and the customary closing certificates including the usual
certificate that at the time no litigation affecting the legality of the Bonds is
pending, or known to the signers of such certificate to be threatened.