SALE RESOLUTION



          RESOLUTION OF THE BOARD OF TRUSTEES OF THE
          UNIVERSITY OF KENTUCKY ACCEPTING THE SUCCESSFUL
          BID FOR THE PURCHASE OF $36,350,000 PRINCIPAL
          AMOUNT OF UNIVERSITY OF KENTUCKY COMMUNITY
          COLLEGES EDUCATIONAL BUILDINGS REVENUE BONDS,
          SERIES H, DATED JUNE 1, 1991.

          WHEREAS, Notice of Sale of $36,350,000 principal amount
of University of Kentucky Community Colleges Educational Buildings
Revenue Bonds, Series H, dated June 1, 1991, has heretofore been
advertised, and infbrmation as to such sale has been distributed in
strict compliance w4ith all legal requirements, which action is
hereby authorized, ratified and confirmed, and

          WHEREAS, all bids received for the purchase of said Bonds
from the University have been duly considered, copies of such bids
are attached to this Resolution, and made a part hereof, and a
summary of said respective bids is as follows:



BIDDERS



INTEREST
  RATES



AMOUNTS BID FOR SAID
BONDS, PLUS ACCRUED
   INTEREST FROM
   JUNE 1, 1991



  NET
INTEREST
  COST



Goldman, Sachs & Co.



Prudential Securities
Inc.






Kemper Securities
Group, Inc.



1992-2002 6.60%
2003-2010 6.70%
2011-   6.75%

1992-1998 6.10%
1999    6.30%
2000    6.40%
2001    6.507
2002    6.60%
2003-2004 6.70%
2005-2011 6.80%

1992    6.30%
1993    6.40%
1994-2001 6.50%
2002    6.60%
2003    6.70%
2004-2011 6.75%



$35,623,003.35



$35,623,000







$35,625,040.05



$31,139,175.19
       6.8465%


$31,180,693.75
       6.8556%






$31,197,971.62
       6.8593%



Zontinued on attached page.



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