RESOLUTION OF OFFICIAL INTENT OF THE BOARD OF
TRUSTEES OF THE UNIVERSITY OF KENTUCKY, TO
FINANCE CONSTRUCTION OF A PARKING GARAGE AS A
CONSOLIDATED EDUCATIONAL BUILDINGS PROJECT FROM
PROCEEDS OF A PROPOSED ISSUE OF UNIVERSITY OF
KENTUCKY CONSOLIDATED EDUCATIONAL BUILDINGS
WHEREAS, in order for the Board of Trustees of the
University of Kentucky to be reimbursed for expenditures made for a
consolidated educational buildings project prior to the authoriza-
tion, sale and delivery of the proposed University of Kentucky
University Consolidated Educational Buildings Revenue Bonds to
finance such project, it is a requirement of the income tax regula-
tions of the Internal Revenue Service that the Board of Trustees
express its official intent 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 the proposed revenue
WHEREAS, it is the express intent of the Board of
Trustees of the University of Kentucky to authorize, sell and
deliver a proposed issue of its Consolidated Educational Buildings
Revenue Bonds in the approximate amount of $10,500,000 to finance
the construction of a parking garage.
NOW, THEREFORE, IT IS RESOLVED AS FOLLOWS:
1. The Board of Trustees of the University of Kentucky
does herewith express its intent to authorize, sell and deliver its
Consolidated Educational Buildings Revenue Bonds in the approximate
amount of $10,500,00e to finance all or a portion of the cost of
construction of said consolidated educational buildings project,
and that all expenditures made for said project prior to the sale
of such Bonds shall be reimbursed out of the proceeds of such sale.
2. The fund or account to be reimbursed is the General
Fund of the University.
3. This Resolution shall take effect from and after its
passage and approval.
Passed and approved on April 4, 1995.
Chairr-an, Board of Trustees