WHEREAS, under date of September 20, 196Oi the

Board of Trustees of the University of Kentucky, acting as

the duly authorized and constituted governing body of said

University, adopted a Resolution creating and establishing a

Consolidated Educational Buildings Project of the University

of Kentucky, creating and establishing an issue of Consolidated

Educational BuLdings Revenue Bonds of the Board of Trustees of

said University, and providing for the issuance of s4id Bonds

in series from time to time upon showings of compliance with

certain terms, requirements and conditions in respect thereof,

which are enumerated with specificity in said Resolution; and

          WEREAS, pursuant to authorization of said Resolution

of September 20, 1960, the University of Kentucky has from time

to time issued, pursuant to certain Series Resolutions, its

Consolidated aducational Buildings Revenue Bonds, and pursuant

to Resolutions adopted under dote of November 27, 1967 and

June 8, 1971 (hereloafter collectively sometimes referred to

as the "Series D Resolution"), there were authorized, sold at

public competitive sale, and issued $34,700,000.00 principal

amount of "University of Kentucky Consolidated Educational

Buildings Revenue Bonds, Series D", dated May 1, 1971, of

which $34,500,000.00 principal amount thereof remain outstand-



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