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[365]

Part of Minutes of the University of Kentucky Board of Trustees

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"SERIES," whenever used herein with respect to Bonds or other Long- term Indebtedness, means all of the Bonds or other Long-term Indebtedness designated as being of the same series, authenticated and delivered in a simultaneous transaction, regardless of variations in maturity, interest rate, redemption and other provisions, and any Bonds or other Long-term Indebtedness thereafter authenticated and delivered upon transfer or exchange of or in lieu of or in substitution for such Bonds or other Long-term Indebtedness as herein Drovided. "SERIES OF BONDS" means the Series of Bonds authorized by a Series Resolution. "SERIES RESOLUTION" means a resolution supplemental to the Resolu- tion authorizing the issuance of a Series of Bonds or other Long-term Indebtedness. "SHORT-TERM INDEBTEDNESS" means all obligations for borrowed money incurred or assumed by the Board which are required, in accordance with generally accepted accounting principles, to be reflected in the financial statements of the operations of the Hospital, for any of the following: (i) Payments of principal and interest with respect to money borrowed for an original term, or renewable at the option of the borrower for a period from the date originally incurred, of one (1) year or less; (ii) Payments under leases which are capitalized in accordance with generally accepted accounting principles having an original term, or renewable at the option of the Lessee for a period from the date originally entered into, of one (1) year or less; (iii) Payments under installment purchase or conditional sales contracts having an original term of one (1) year or less. "SINKING FUND ACCOUNT" means that account or accounts created as a part of the Bond Fund. "STATE TREASURER" means the State Treasurer of the Commonwealth. "TOTAL OPERATING REVENUES" means net patient service revenue plus other operating revenue, both as reflected in the Financial Statements in accordance with generally accepted accounting principles. "TREASURER" means the Treasurer and each and every Assistant Treasurer and each and every other officer of the Board authorized to exercise the powers and authority reposed in the Treasurer of the Board. "TRUSTEE" means a bank or trust company or a combined bank and trust company created and existing under the laws of the Commonwealth, or a national banking association created and existing under the laws of the United States of America, having proper trust powers and having its principal office and place of business in Kentucky, or any successor Trustee to be designated pursuant to the provisions of a Series Resolution. -9-