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Three Recent Colorado Charter School Financings – Lower Debt Costs Means More Resources in the Classroom

News | March 5, 2021


Kutak Rock recently served as bond counsel in connection with the issuance of $44,335,000 of three series of charter school revenue bonds for Vega Collegiate Academy (“VCA”), Global Village Academy – Northglenn (“GVAN”) and Heritage Heights Academy (“HHA”).

VCA financed the acquisition, construction and renovation of a new school facility in Aurora, Colorado. VCA’s bonds were rated “Ba2” by Moody’s. VCA has 311 students in grades K-3 and 5-8.

GVAN refinanced outstanding debt and funded the construction, improvement and equipping of a new educational facility in Thornton, Colorado. GVAN has 832 students in grades K-8.

HHA financed the acquisition, construction, improvement and equipping of a new facility in Centennial, Colorado. HHA has 357 students in grades K-8.

Fred Marienthal, Ryan Jardine, Shawn Willette and John Bales worked on these financings.