REVISED




                                        office of the President

                                        April 4, 1995
















Members,- Board of Trustees:



    RESOLUTION OF OFFICIAL INTENT OF THE BOARD OF TRUSTEES OF

    THE UNIVERSITY OF KENTUCKY, TO FINANCE CONSTRUCTION OF

    RENOVATION TO THE CLINICAL LABORATORIES OF THE COLLEGE OF

    DENTISTRY FROM PROCEEDS OF A PROPOSED ISSUE OF UNIVERSITY

    OF KENTUCKY CONSOLIDATED EDUCATIONAL BUILDINGS REVENUE

    BONDS



Recommendation: that the Board of Trustees approve the

Resolution expressing its official intent to issue University of

Kentucky Consolidated Educational Buildings Revenue Bonds, and

that the proceeds of such Bonds will be used, in whole or in

part, to reimburse authorized expenditures for the proposed

project prior to the issuance of such revenue bonds.



The Resolution states that such Bonds will be issued to finance

the construction of renovations to the clinical laboratories of

the College of Dentistry.



Background: The University presently has outstanding twelve

series of Consolidated Educational Buildings Project Revenue

Bonds, Series C through N (as more fully described in the Series

Resolutions), all secured by a pledge of the Revenues

(registration fees) and by a statutory mortgage lien against all

of the buildings of the Consolidated Educational Building

Project. The Bonds which the Board expresses its intent to issue

will rank on a parity with the said outstanding Series of Bonds.

Pursuant to the income tax regulations of the Internal Revenue

Service, in order for expenditufres made for a public project

prior to the issuance of revenue bonds to be reimbursed to the

issuer upon the issuance of such bonds, it is necessary that the

issuer express its official intent to issue such bonds and

reimburse such expenditures prior to the issuance of such bonds.














Action:  Approved  .V1 Disapproved ____            Other_____



Dated: April 4. 1995