5



             be made at the lowest prices (not exceeding their current
             fair market value to be determined by the Trustee nor the
             terms for redemption thereof) following advertisement for
             tenders, but if insufficient acceptable tenders are received
             the remaining excess may be applied to the calling and
             redemption of Bonds in the manner as specified in the Reso-
             lution and in accordance with the terms as specified in the
             Bonds. All Bonds so purchased or redeemed shall be
             cancelled.

       Section 2. This resolution shall be in full force and effect from and
after its adoption.

       ADOPTED April 2, 1963.


ATTEST:                             (Signed)   Bert Comnbhs,
                                               Chairman

(Signed) J. A. Sutherland
         Sec retary

       Board member J. A. Sutherland seconded the motion for the adoption
of said Resolution.

       After further discussion, the Chairman put the question, and the following
vote d:

Voting "Aye" Hon. Bert Combs, Dr. Ralph J. Angelucci, Mr. Smith Broadbent,
Dr. Harry Denham, Mr. Sam Ezelle, Mr. Robert H. Hillenmeyer, Mr. Gilbert
Kingsbury, Mr. H. B. Murray, Mr. Clifford E. Smith, Judge James Sutherland,
Mr. Floyd H. Wright.

Voting "Nay": None.



       The Chairman then announced that said Resolution had been duly adopted
and was in full force and effect.


       F. Resolution Authorizing Issuance of $1, 200, 000 Community Colleges
Educational Buildings Revenue Bonds, Series A.

       The President then reminded the Board that at the meeting held on March
4, 1963, the determination had been made that the Board would proceed in the
near future to authorize $1, 200, 000 Community Colleges Educational Buildings
Revenue Bonds, Series A, to supplement funds provided by the Commonwealth and
finance the Community Colleges buildings presently under construction at
Elizabethtown, in Hardin County, and at Prestonsburg, in Floyd County. He