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[113]

Part of Minutes of the University of Kentucky Board of Trustees

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"First Notice" NOTICE OF REDEMPTION RE: UNIVERSITY OF KENTUCKY COMMUNITY COLLEGES EDUCATIONAL BUILDINGS REVENUE BONDS, SERIES E, DATED APRIL 1, 1986 Notice is hereby given that the Board of Trustees of University of Kentucky has provided for the refunding of the Series E Bonds maturing on and after May 1, 1997, bearing CUSIP numbers 914386- ; 914386- ; 914386- ; 914386- ; 914386- 914386- ; 914386- ; 914386- ; 914386- , and 914386- through the deposit in escrow with National City Bank, Lexington, 801 East Main Street, Lexington, Kentucky 40507, as Trustee Escrow Agent, of direct obligations of the United States of America maturing in such amounts and on such dates as will be sufficient to pay the interest on said Bonds as same becomes due, and, will be sufficient to redeem said Series E Bonds scheduled to mature on and after May 1, 1997, on May 1, 1996. The Series E Bonds called for redemption shall be payable solely from the investments held in escrow, and said Series E Bonds shall no longer be secured by the pledge of the Revenues of the Community Colleges Educational Buildings Project created by the Resolution of the Board of Trustees of University of Kentucky pursuant to which the Series E Bonds have been issued. The remaining Series E Bonds scheduled to mature on May 1, 1994 through May 1, 1996 will be paid as and when they become due. Attention is called to the fact that no action is required by the owners of such called Bonds until May 1, 1996. Funds sufficient for the payment of the interest on the Bonds through May 1, 1996, and the redemption price of the Bonds to be redeemed on May 1, 1996, have been placed on deposit and invested in United States Government obligations. (Signed) National City Bank, Lexington, Escrow Agent. "Second Notice" NOTICE OF REDEMPTION RE: UNIVERSITY OF KENTUCKY COMMUNITY COLLEGES EDUCATIONAL BUILDINGS REVENUE BONDS, SERIES E, DATED APRIL 1, 1986 Owners of the above-identified Bonds scheduled to mature on May 1, 1997 through 2006, bearing CUSIP numbers 914386- 914386- ; 914386- ; 914386- ; 914386- ; 914386- 914386- ; 914386- ; 914386- ; and 914386- ; are advised that such Bonds are called for redemption on May 1, 1996, at the principal corporate trust office of National City Bank, Lexington, 801 East Main Street, Lexington, Kentucky 40507. Owners of said called Bonds are notified to present them as set out above and upon surrender thereof, said Bonds will be redeemed at a price of $5,100 per $5,000 Bond (102%) plus accrued interest to May 1, 1996. Interest on said called Bonds will no longer accrue after May 1, 1996. (Signed) National City Bank, Lexington, Escrow Agent.