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[182]

Part of Minutes of the University of Kentucky Board of Trustees

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BID FORM Subject to the terms and conditions set forth in the Official Terms and Conditions of Sale of Bonds, providing for the sale of $4,170,000 (plus or minus up to $415,000) of University of Kentucky Housing and Dining System Refunding Revenue Bonds, Series N, dated February 1, 1994, and in accordance with the notice of sale of the Bonds as advertised, to all of which the undersigned agrees, the undersigned hereby submits the following offer to purchase said Bonds. We hereby bid for said $4,170,000 principal amount of Bonds, the sum of $ (not less than $4,107,450) (98J%), plus accrued interest from February 1, 1994, to the date of delivery of the Bonds, such Bonds to bear inter- est payable semiannually on June 1 and December 1, commencing June 1, 1994, at the following annual rate(s): Serial Term* Serial Term* Maturity Principal Bond Bond Maturity Principal Bond Bond June 1 Amount Rate Rate June 1 Amount Rate Rate 1994 $ 15,000 _ _ 2002 $375,000 _ _ 1995 80,000 % % 2003 385,000 % _ 1996 85,000 _ 5 2004 395,000 % % 1997 280,000 % 5 2005 360,000 5 % 1998 260,000 % % 2006 505,000 % % 1999 315,000 % % 2007 200,000 % % 2000 345,000 5 % 2008 215,000 5 5 2001 355,000 5 % Bidders may elect to structure the maturities to include term bonds with manda- tory sinking fund redemptions. To bid term Bonds, put interest rate in Term Bond Rate column. We understand that this bid may be accepted for as much as $4,585,000 of Bonds and for as little as $3,755,000 of Bonds, at the same price per $1,000 of Bonds as the price bid per $1,000 of Bonds by the undersigned with the variation in such amount being adjusted as determined by the Board of Trustees at the time of acceptance of the best bid. We understand that the Board of Trustees will furnish the final, approv- ing legal opinion of Rubin Hays & Foley, Municipal Bond Attorneys, of Louisville, Kentucky. We agree that if we are the successful bidder, immediately available funds in the amount of $83,400, payable to the University of Kentucky will be deposited in Farmers Bank & Capital Trust Company, Frankfort, Kentucky, by federal wire transfer, ABA 0839-0061-9, prior to the end of the business day on March 2, 1994, in accordance with the Notice of Bond Sale and the Official Terms, with the understanding that the amount thereof, without interest, will be deducted from the purchase price of the Bonds when tendered to us for delivery. If we are the suc- cessful bidder, we agree to accept and make payment for the Bonds in accordance with the terms of sale. Respectfully submitted,