9



       Thereupon, the Chairman declared that said Resolution had been
adopted, and that said documents had been approved. Thereupon, the
President was authorized to proceed accordingly. (See FCR 4 at the end of
the Minutes.)

       BB.   Adoption of Resolution Approving the Issuance and Sale of
Community Colleges Educational Buildings  Revenue Bonds, Series F, dated
February 1, 1987 (FCR 5)

       Mr. Clay reported that the Resolution and official documents
regarding the Community Colleges Educational Buildings Revenue Bonds,
Series F, dated February 1, 1987, had been prepared by Bond Counsel. These
documents contemplate action by this Board of Trustees. Mr. Clay again
noted that present at the meeting is a quorum of the Board of Trustees.

       Thereupon, a motion was made by Trustee Clay, and seconded by
Trustee Rose, that a Resolution entitled:

       A RESOLUTION AUTHORIZING THE ISSUANCE OF $26,100,000 OF
       UNIVERSITY OF KENTUCKY COMMUNITY COLLEGES EDUCATIONAL
       BUILDINGS REVENUE BONDS, SERIES F, DATED FEBRUARY 1, 1987,
       OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF KENTUCKY,

be adopted, that the official documents relating to the advertisement and
sale of said Revenue Bonds be approved, and that, as provided in the sale
documents, bids be considered for the purchase of such Bonds by the
Treasurer of the University in the office of the President, Administration
Building, University of Kentucky Campus, Lexington, Kentucky, until January
20, 1987 at 10:30 A.M., E.S.T., and that the University Treasurer, in
cooperation with the President of the University and the Fiscal Agent,
Oupree & Company, Inc., ascertain the best bid for the bonds, subject to
the provision that the actual award of the Bonds to the best bidder shall
be made by action of either the full Board or its Executive Committee at a
meeting scheduled for a later hour on that same date, true copies of which
Resolution and documents are attached to these Minutes. Upon such
Resolution and documents having been read and fully considered, a vote was
taken on the motion to adopt such Resolution, which resulted as follows:

       Yeas for the Motion             Nays Against the Motion

       Robert T. McCowan                         None
       Raymond F. Betts
       William R. Black
       Albert G. Clay
       David R. Driscoll, Jr.
       Tracy Farmer
       Ronald G. Geary
       Donna G. Greenwell
       Edythe Jones Hayes
       Henry E. Hershey
       R. Larry Jones
       Frank Ramsey
       James L. Rose
       Bobby Watson
       Constance P. Wilson