One of the greatest party towns in the nation. Home to some of the hottest college girls (most in a sorority) found anywhere, the University of Kentucky is one of the best in the nation, from my experience.
Lexington is home to some awesome places to hang out, ranging from Tolly Ho (best food in town) to clubs like Avio and The Dame, which have live music. I live just off campus, and attend UK. There is always something to do, especially on campus.
While Kentucky as a whole is considered the capitol of hillbillies, this references a 1800's-1900's stereotype that devolved to myth (except for supremely rural towns) in the early 60's at latest.
Lexington, a party city, is known as LexVagas.