Kutak Rock Serves as Bond Counsel to Colorado Mesa University for New Residence HallNews | June 10, 2019
Kutak Rock served as bond counsel to the Board of Trustees for Colorado Mesa University, located in Grand Junction, Colorado, in connection with the issuance of its $17,000,000 Enterprise Revenue Bonds, Series 2019B. Proceeds from the sale of the Series 2019B Bonds will be used to construct and equip a new residence hall on the University’s campus, a geothermal energy field on the University’s campus, a surface parking lot on the University’s campus and such additional capital improvements to the University’s campus as may be designated by the Board. The new residence hall is expected to cost between $16 million and $16.5 million, and contain approximately 120-130 beds in units offering single rooms. Each unit is expected to have four full-size-bed single rooms, two bathroom sinks, one toilet, one shower, a fridge, and storage for food. A full-size kitchen would be shared among multiple units. This all-inclusive hall would come with a meal plan that would provide residents with seven meals per week. The University plans to charge an all-inclusive academic year rate of about $13,500-$14,000 per person. The new residence hall project will be primarily funded from Series 2019B Bond proceeds, with any remaining amounts to be funded with University cash. The planned opening date for the project is Fall 2020.
Kutak Rock partners Fred Marienthal, Jennifer Barrett and Shawn Willette worked on this transaction.