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

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