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[347]

Part of Minutes of the University of Kentucky Board of Trustees

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NOTICE OF SALE OF BONDS $7,805,000 UNIVERSITY OF KENTUCKY COMMUNITY COLLEGES EDUCATIONAL BUILDINGS REFUNDING REVENUE BONDS SERIES D (SECOND SERIES) DATED AUGUST 1, 1986 The Treasurer of the Board of Trustees of the University of Kentucky, Lexington, Kentucky (the "Board"), hereby gives public notice that until the day of , 1986 at the hour of .M., E.D.T., it will receive in the office of the President, Administration Building, University of Kentucky Campus, Lexington, Kentucky 40506, sealed, competitive bids for the purchase of $7,805,000 of the above-identified issue of bonds, subject to adjustment as to amount as hereinafter provided, being fully registered bonds, in the denomina- tion of $5,000 or any multiple of same within the same maturity, maturing on May 1, 1987 through 2008. The minimum bid is $7,648,900 (98% of par). All bidders must bid for all of the Bonds, and the purchase price is payable in Federal Funds. The initial reoffering price of all Bonds to the public must be at par (100%). Bids will be received at said office until _ .M. on such sale date and will be acted upon by the Board of Trustees (or the Executive Committee of the Board) at .M., E.D.T., on the same date. The amount of the Bonds to be sold may be increased or decreased by approximately 15% at the time of the sale, as set out in detail in the Official Terms and Conditions of Sale of Bonds and in the Preliminary Official State- ment. The Bonds will be issued subject to the approving legal opinion of the firm of Rubin & Rays, Municipal Bond Attorneys, Louisville, Kentucky, with a separate no-arbitrage opinion of the firm of Haynes & Miller, Washington, D.C., based on the assumption of compliance by the Board with certain covenants made by the Board in accordance with HR 3838, if enacted into law in the Eorm passed by the U.S. House of Representative on December 17, 1985, and assuming that such law as enacted reflects the postponement of the effective date to the extent endorsed in a certain "Joint Statement", as set out in detail in the Official Terms and Conditions of Sale of Bonds and in the Preliminary Official Statement. Good faith check is $78,050. Bid Forms, Official Terms and Conditions, and Preliminary Official Statement may be obtained from the Fiscal Agent, Dupree & Company, Inc., 167 West Main Street, Lexington, Kentucky 40507, phone (606) 254-7741. 1