Transformative University of Denver FinancingNews | June 27, 2017
Kutak Rock served as counsel to the underwriters in connection with the issuance of $144,015,000 of Colorado Educational and Cultural Facilities Authority Revenue Bonds (University of Denver Project) Tax-Exempt Series 2017A and Colorado Educational and Cultural Facilities Authority Revenue Bonds (University of Denver Project) Taxable Series 2017B.
The proceeds of the bonds were loaned by the Colorado Educational and Cultural Facilities Authority to the Colorado Seminary, known as the University of Denver (the “University”). The proceeds of the bonds will be used by the University to: (i) finance a portion of the construction, improvement, renovation, and equipping of certain campus improvements including a freshman residential dormitory, the campus career center, a substantial demolition, renovation and expansion of the student center to become a community commons, and other campus improvements; (ii) pay certain capitalized interest on the bonds; and (iii) pay certain costs associated with the issuance of the bonds.
The University is one of the largest and oldest independent institutions of higher education in the Rocky Mountain region. The University currently offers 10 bachelor degree programs and 22 advanced degree programs. The University’s student body is comprised of students from all 50 states and 78 foreign countries. For Fiscal Year 2017 (represented by enrollment in the fall quarter 2016), the University enrolled 12,217 (headcount) students, of whom 5,754 were undergraduates.