We enclose as evidence of our good faith a certified or bank
cashier's or treasurer's or official check in the amount of $110, 000 payable
to the order of the Treasurer of the University of Kentucky. In the event
this bid is accepted and should, for any reason, we fail to comply with the
terms of this bid, said check is to be forfeited by us, as agreed liquidated
damages; otherwise said check is to be promptly returned to us.

                                            Respectfully submitted,



           The foregoing is our purchase bid. WVe submit our own computations
thereof only for your information and convenience:

           (a) Total interest cost at coupon rates from
              date of Bonds to final maturity ........................ $
           (b) Less premium, or plus discount (if any) ............... $
           (c) Net interest cost ....................................$ $ _





              Accepted this     day of               , 1 974
                                   EXECUTIVE COMMITTEE O.F THE
                                BOARD OF TRUSTEES OF THE UNIVERSITY
                                              OF iFENTUCKY



By



Chair man



Al TEST:



(SEA L)



Secretary



           The undersigned, an unsuccessful bidder, hereby
return of its good faith check tendered with its bid.



acknowledges



By



(Authorized Representative)



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