Penfield W. Tate III

(303) 292-7785
Partner
(303) 292-7799 Fax
Penfield.Tate@KutakRock.com

Mr. Tate is experienced in public finance and municipal law, as someone who has worked in government and as an advisor to government.

He has wide-ranging experience representing public entities, lenders and underwriters engaged in the process of financing essential public improvements, and advising local and state governments in the exercise of their administrative responsibilities.

Mr. Tate has been engaged in the public finance practice for more than 25 years and has experience working as bond, disclosure, trustee and underwriter’s counsel. He has served as bond counsel for financings by public entities throughout Colorado, which aggregate to more than $9 billion, and as underwriter’s or disclosure counsel for financings by public entities throughout the United States, which aggregate to more than $7.6 billion. He has been involved in a variety of financings, including fixed and variable rate, taxable and tax-exempt, senior and subordinate, revenue, general obligation, master lease and master indenture issuances, and lease purchases. Mr. Tate is also experienced in transactions involving letters of credit, municipal bond insurance, standby bond purchase arrangements and other forms of credit enhancement.

In government, Mr. Tate has served in both the Colorado Senate and House of Representatives. He has served as executive director of the Department of Administration for former Governor Roy Romer, as well as on both the State of Colorado Banking Board and the Colorado Housing and Finance Authority board. As an aide to former Denver Mayor Federico Peña, Mr. Tate represented the mayor's office on issues involving airport finance, business and economic development, and housing development.

Mr. Tate often speaks before groups on issues of public interest; he is also a regular commentator with the local print and electronic news media.

Representative Experience:

  • City and County of Denver, for and on behalf of the Wastewater Management Division of its Department of Public Works, Colorado October 25, 2016; Wastewater Enterprise Revenue Bonds, Series 2016; Co-Bond and Disclosure Counsel; $115,000,000.
  • Aurora Joint School District No. 28-J, in Adams and Arapahoe Counties, Colorado January 10, 2017; General Obligation Bonds Series 2017A $200,000,000 and 2017B $3,665,000; Underwriters Counsel.
  • Colorado Educational and Cultural Facilities Authority, April 26, 2016; Colorado Educational and Cultural Facilities Authority Refunding Revenue Bonds (Regis University Project), Series 2016; Underwriters’ Counsel; $48,025,000.
  • Board of Governors of the Colorado State University System, April 28, 2015; System Enterprise Revenue Bonds, Series 2015A; Underwriters’ Counsel; $134,730,000.
  • Board of Governors of the Colorado State University System, April 28, 2015; Taxable System Enterprise Revenue Bonds Series 2015B; Underwriters’ Counsel; $32,815,000.
  • Board of Governors of the Colorado State University System, April 28, 2015; System Enterprise Revenue Refunding Bonds Series 2015C; Underwriters’ Counsel; $67,675,000.
  • Pueblo County School District No. 70, Pueblo County, Colorado, January 15, 2015; Certificates of Participation, Series 2014 Evidencing Proportionate Interests in the Base Rentals and other Revenues under an Annually Renewable Lease Purchase Agreement dated as of January 15, 2015, between UMB Bank, N.A., solely in its capacity as trustee under the Indenture, as lessor, and Pueblo County School District No. 70, Pueblo County, Colorado, as lessee; Underwriter’s Counsel; $8,105,000.
  • City of Aurora, Colorado, December 30, 2014; Certificates of Participation, Series 2014 Evidencing Proportionate Undivided Interests in Rights to Receive Certain Revenues pursuant to a Lease Purchase Agreement between Aurora Capital Leasing Corporation and the City of Aurora, Colorado; Underwriter’s Counsel; $21,775,000.
  • Denver Public School District No. 1, In the City and County of Denver, Colorado, December 4, 2014; General Obligation Refunding Bonds, Series 2014B; Underwriter’s Counsel; $149,170,000.
  • City and County of Denver, Colorado, October 10, 2014; City and County of Denver, Colorado General Obligation Better Denver Bonds (Denver Mini-Bond Program), Series 2014A; Bond and Disclosure Counsel; $12,000,000.
  • State of Colorado, July 7, 2014; State of Colorado Bureau of Investigation Pueblo Regional Facility Project Certificates of Participation, Series 2014; Disclosure Counsel; $11,000,000.
  • Denver Public School District No. 1, In the City and County of Denver, Colorado, March 26, 2014; General Obligation Bonds, Series 2014A; Underwriter’s Counsel; $21,400,000.
  • City and County of Denver, Colorado, October 3, 2013: City and County of Denver, Colorado General Obligation Better Denver and Refunding Bonds, Series 2013A; Bond Counsel; $120,925,000.
  • City and County of Denver, Colorado, October 3, 2013: City and County of Denver, Colorado General Obligation Refunding Bonds, Series 2013B1&B2; Bond Counsel; $137,435,000.
  • City of Canon City, Colorado, June 12, 2013: Lease Agreement dated as of June 12, 2013,Between the City of Canon City, Colorado And Branch Banking and Trust Company; Purchaser’s Counsel; $2,310,000.00.
  • School District No.1, In the City and County of Denver, Colorado, May 1, 2013: Certificate of Participation, Series 2013C Evidencing Undivided Interests in the Right to Receive Certain Revenues Payable by School District No. 1, in the City and County of Denver under a Lease Purchase Agreement dated as of May 1, 2013; Underwriters’ Counsel; $58,740,000.
  • School District No.1, In the City and County of Denver, Colorado, January 31, 2013: Certificate of Participation, Series 2013A Evidencing Undivided Interests in the Right to Receive Certain Revenues Payable by School District No. 1, in the City and County of Denver under a Lease Purchase Agreement dated as of January 31, 2013; Placement Agents’ Counsel; $35,195,000.
  • City and County of Denver, Colorado, for and on behalf of its Department of Aviation, October 17, 2012: Airport System Revenue Bonds, Series 2012A (AMT) ($315,780,000); Airport System Revenue Bonds, Series 2012B (Non-AMT) ($510,140,000); Airport System Revenue Bonds, Series 2012C (Taxable) ($30,285,000); Underwriters’ Counsel.

Articles, Lectures and Publications:

  • Regular Panelist, "Colorado Inside Out," CPT 12 
  • Speaker, "Achieving Success," Colorado Association of Black Professional Engineers and Scientists
  • Speaker, "The Uniqueness of Colorado," Denver Metro Chamber of Commerce Access Denver Program
  • Speaker, "Leadership," Colorado State University Montfort Professor-in-Residence
  • Speaker, "Employment for Every 'Body'," Colorado Coalition for Persons with Disabilities