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[357]

Part of Minutes of the University of Kentucky Board of Trustees

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RESOLUTION A RESOLUTION CREATING AND ESTABLISHING A HOSPITAL PROJECT OF THE UNIVERSITY OF KENTUCKY; CREATING AND ESTABLISHING AN ISSUE OF UNIVERSITY OF KENTUCKY HOSPITAL REVENUE BONDS OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF KENTUCKY; PROVIDING FOR THE ISSUANCE FROM TIME TO TIME OF SAID BONDS; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS AND REPEALING ALL RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT WITH THIS RESOLUTION. WHEREAS, pursuant to Section 164.160 of the Kentucky Revised Statutes, the Board of Trustees is a body corporate, with all powers generally vested in corporations, and as such is the governing body of the University of Kentucky, a public educational institution of higher learning of the Common- wealth of Kentucky, having full control of the management of said University, together with the property and funds thereof; and WHEREAS, the Board of Trustees, as governing body of the University of Kentucky, has heretofore caused to have constructed and presently operates the University of Kentucky Hospital, which hospital is used by the University of Kentucky for educational purposes; and WHEREAS, the Board of Trustees has determined that it will be necessary from time to time to acquire, construct and equip additions and improvements to the University of Kentucky Hospital; and WHEREAS, the Board of Trustees has determined that the acquisition, construction and equipping of such additions and improvements will require the borrowing of money and the issuance of revenue bonds payable from the revenues of the University of Kentucky Hospital; and WHEREAS, under the provisions of Section 58.010 through 58.140 of the Kentucky Revised Statutes, the Board of Trustees is empowered to issue revenue bonds for the purpose of financing a public project for use in the promotion of the public health; and -1-