Total interest cost from August 1, 1986,
  to final maturity
Less premium or plus discount, if any, bid
Net interest cost
Net interest rate



$        5 ,.  
$ q,30,98.35
$ Iq17i, &C.605
1.9SLqpO9  %



           The  above  computation  of  net   interest  cost  is  submitted  for
information only and is not a part of this Bid.    The average interest rate on
the Bonds is        X

           Accepted this 29th day of    July     , 1986.

                                      BOARD OF TRUSTEES OF THE
                                      UNIVERSITY OPF ENTUCKY       ,

                                      By