FCRn 13n



 Office of the President
 May 6, 1997




 Members, Board of Trustees:


 RESOLUTION OF THE BOARD OF TRUSTEES OF UNIVERSITY OF KENTUCKY
 ACCEPTING THE SUCCESSFUL BID FOR THE PURCHASE OF $6,645,000 PRINCIPAL
 AMOUNT OF UNIVERSITY OF KENTUCKY HOUSING AND DINING SYSTEM
 REVENUE BONDS. SERIES Q. DATED MAY 1, 1997

 Recommendation: that the Board of Trustees approve the Resolution accepting the successful bid
 of Griffin, Kubik, Stephens & Thompson, Inc. with reference to the sale of the $6,645,000 of
 University of Kentucky Housing and Dining System Revenue Bonds, Series Q, dated May l,
 1997, at a net interest cost of 5.4779%.

 Background: On April 1, 1997, the Board of Trustees approved a Resolution authorizing the
 issuance of $6,645,000 of University of Kentucky Housing and Dining System Revenue Bonds,
 Series Q, dated May 1, 1997. Said Resolution also authorized the public advertising for sealed
 competitive bids to be received for said Bonds. Bids were received by the Controller and
 Treasurer and tabulated by J.J.B. Hilliard, W.L. Lyons, Inc., the Financial Advisors for the bonds.
 The recommended bid is the lowest net interest cost to the University.

 Seven bids were received and tabulated as follows:

 Griffin, Kubik, Stephens & Thompson, Inc.                     5.4779%
 W. R. Hough & Co.                                             5.4780%
 J.J.B. Hilliard, W. L. Lyons, Inc.                            5.4817%
 Morgan Keegan & Co.                                           5.4845%
 ABN AMRO Chicago Corp.                                        5.4969%
 National City Investments, Inc.                               5.5173%
Ross Sinclair & Associates, Inc.                              5.5909%



Action taken:  k(Approved



LJ Disapproved    LI Other