UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported) June 2,1998
(June 1, 1998)
Commission File Number 0-14695
NTS-Properties VII, LTD
(Exact name of registrant as specified in its charter)
Florida 61-1119232
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) No.)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code (502) 426-4800
Not Applicable
Former name, former address and former fiscal year,
if changed since last report
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Item 5. Other Items
On December 31, 1995, NTS-Properties VII (the "Partnership") established an
Interest Repurchase Reserve pursuant to Section 16.4 of the Partnership's
Amended and Restated Agreement of Limited Partnership. Under Section 16.4,
limited partners may request the Partnership to repurchase their respective
interests (Units) in the Partnership. The Partnership notified the limited
partners by letter on February 1, 1996 of the establishment of the Interest
Repurchase Reserve.
As of June 1, 1998, NTS-Properties VII has elected to move an additional $1,242
to its Interest Repurchase Reserve. With this funding, the Partnership will be
able to repurchase up to 207 additional Units at a price of $6.00 per Unit. If
the number of units submitted for repurchase exceeds that which can be
repurchased by the Partnership with the current funding, those additional Units
may or may not be repurchased in subsequent quarters with additional funding.
The above offering price per Unit was established by the General Partner in its
sole discretion and does not purport to represent the fair market value or
liquidation value of the Unit.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NTS-Properties VII, Ltd.
(Registrant)
BY: NTS-Properties Associates VII
BY: NTS Capital Corporation,
General Partner
/s/ John W. Hampton
John W. Hampton
Senior Vice President
Date: June 2,1998
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