WHEREAS, the Board of Trustees has determined that it is in the best
interests of the University to create and establish an issue of revenue bonds
to be issued for the aforesaid purposes from time to time as funds are required
for such purposes, all such bonds to be payable from the revenues of the
University of Kentucky Hospital in the manner hereinafter provided;
NOW, THEREFORE, the Board of Trustees of the University of Kentucky
hereby resolves as follows:
ARTICLE I. DEFINITIONS.
Section 1.01. Definitions
In each and every place in and throughout this Resolution wherein
the following words and terms, or any of them, are used, the same, unless the
context shall indicate another or different meaning or intent, shall be
construed, used and intended to have meanings as follows:
"ACT" means Sections 58.010 through 58.140 of the Kentucky Revised
"ADDITIONAL FACILITIES" means those additions and improvements to
the Hospital to be financed from proceeds of Bonds issued pursuant to a Series
Resolution or Parity Indebtedness.
"ADDITIONAL INDEBTEDNESS" means any Indebtedness payable out of
Revenues incurred subsequent to the date of the Resolution.
"AUDITOR" means the Auditor of Public Accounts of the Commonwealth.
"BALLOON LONG-TERM INDEBTEDNESS" means (i) Long-term Indebtedness
25% or more of the principal payments of which are due in a single year and
(ii) Long-term Indebtedness 25% or more of the principal of which may, at the
option of the holder or registered owner thereof, be redeemed at one time,
which portion of the principal is not required by the documents pursuant to
which such Indebtedness is issued to be amortized by redemption prior to such
"BOARD" means the Board of Trustees of the University of Kentucky,
as created and existing under the provisions of Section 164.130, et sq., of
the Kentucky Revised Statutes, or its Executive Committee created and elected
pursuant to Section 164.190 of the Kentucky Revised Statutes when exercising
the power delegated to it by the Board.
"BOND FUND" means the fund created pursuant to Section 4.03 hereof.