ExploreUK is getting a new design. Try the beta site!


ExploreUK home

0-9 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

[366] > Image [366] of Minutes of the University of Kentucky Board of Trustees, 1986-05-jun25.

Part of Minutes of the University of Kentucky Board of Trustees

Section 1.02. Gender. Words of the masculine gender shall be deemed and construed to include words of the feminine and neuter gender. Section 1.03. Plural and Singular. The words "Bonds," "Owner," "holder" and "person" shall include the plural as well as the singular number unless the context shall otherwise indicate. The word "person" shall include corporations and associations, including public bodies, as well as natural persons. ARTICLE II. AUTHORIZATION AND ISSUANCE OF BONDS AND PARITY INDEBTEDNESS. Section 2.01. Authorization. Pursuant to the authority contained in the Act, there is hereby established and created an issue of Bonds of the Board to be known and designated as "University of Kentucky Hospital Revenue Bonds" which Bonds may be issued as hereinafter provided without limitation as to amount except as provided in a Series Resolution. Said Bonds shall not constitute an Indebted- ness of the Board, or the Commonwealth, within the meaning of any provisions or limitations of the Constitution and Statutes of the Commonwealth but shall be payable solely from the Revenues and any other revenues provided therefor in a Series Resolution. The Board reserves the right to incur Parity Indebtedness for any purpose *for which Bonds may be issued, provided that the provisions of Section 2.02 are complied with by the Board. The Bonds and Parity Indebtedness shall constitute a paramount charge on the Net Revenues in the manner and to the extent hereinafter provided and over and ahead of all claims or obligations of any nature against the Net Revenues hereafter arising or hereafter incurred. All Bonds and Parity Indebtedness shall be equally and ratably secured without priority by reason of series designation, number, date of authentication, date of sale, execution, maturity or delivery, by a charge on the Net Revenues. Section 2.02. Issuance by Series Resolution. The issuance of Bonds and Parity Indebtedness may be authorized by a Series Resolution of the Board adopted pursuant hereto in one or more series. The Bonds of each series shall, in addition to the title "University of Kentucky Hospital Revenue Bonds," contain an appropriate series designation. Each Series Resolution authorizing the issuance of a Series of Bonds or Parity Indebtedness shall declare that said Bonds or Parity Indebtedness are authorized and issued under the Resolution and shall also specify: (1) the authorized principal amount of said Series; (2) the purposes for which such Series are being issued, which shall be only for the payment of the cost of Additional Facilities, with necessary appurtenances and which Additional Facilities will become and constitute a part of the Hospital Project; -10-