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[379]

Part of Minutes of the University of Kentucky Board of Trustees

Section 6.05. Maintain Hospital. The Board covenants and agrees that it will at all times maintain, preserve and keep the Hospital and every part thereof in good condition, repair and working order, and will from time to time make all needed and proper repairs, replacements, additions, betterments and improvements so that the operations and business of and pertaining to the Hospital and every part thereof shall at all times be conducted efficiently, properly and advantageously; and whenever any portion of the Hospital shall have been worn out or destroyed or shall have become obsolete, inefficient or otherwise unfit for use, the Board will procure and install substitutes of at least equal value, utility and efficiency, so that the value and efficiency of the Hospital shall at all times be fully maintained; and the Board will set apart, use and apply for the foregoing purposes so much of the Revenues as may be required, subject to the payments provided for in Article IV hereof. Section 6.06. Compliance With Resolution. The Board covenants and agrees that it will not issue, or permit to be issued, any Bonds under the Resolution other than in accordance with the provisions of the Resolution, and that it will faithfully observe and perform all conditions, covenants and requirements of the Resolution and of all Series Resolutions supplemental thereto. Section 6.07. Records and Accounts. The Board covenants that it will keep accurate financial records and proper books relating to the operation of the Hospital, and such records and books shall be open to inspection by the Owners of the Bonds and their agents and representatives. It further covenants that not later than ninety (90) days after the close of each Fiscal Year it will furnish to the State Treasurer, and to any Owner of Bonds who shall request the same in writing, copies of Financial Statements prepared by an independent certified public accountant, or a firm of independent certified public accountants, or by the Auditor, reflect- ing in reasonable detail the financial condition and record of operation of the Hospital, and the Revenues during the preceding Fiscal Year. Section 6.08. Rights of Owners Not To Be Impaired. The Board covenants that no contract or contracts will be entered into or any action taken by which the rights of the Owners might be impaired or diminished. Section 6.09. Further Instruments and Actions. The Board covenants that it will, from time to time, execute and deliver such further instruments and take such further action as may be required to carry out the purposes of this Resolution. -23-

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