Kutak Rock Serves as Bond/Disclosure Counsel to Colorado School of MinesNews | November 27, 2023
Kutak Rock served as bond counsel and disclosure counsel in connection with the issuance and sale of the $132,485,000 of the Board of Trustees of the Colorado School of Mines Institutional Enterprise Revenue Bonds, Series 2023C. The Series 2023C Bonds were issued for the purposes of (a) financing the construction, renovation and equipping of (i) Phase 2 of the Mines Park student housing facilities and (ii) any related campus improvements, including but not limited to, parking, utilities and infrastructure related thereto; and (b) paying costs of issuance of the Series 2023C Bonds.
The Colorado School of Mines is redeveloping its existing on-campus apartment style student housing at Mines Park. Mines Park is located proximate to the School’s main campus in Golden, Colorado and currently consists of 538 beds including housing for primarily upper-class and graduate students and their families. The Colorado School of Mines undertaking of the redevelopment is driven by many factors including to accommodate growing on-campus housing needs, addressing deferred maintenance in the existing facilities and to realize the strategic goals for community identified in the Mines@150 Strategic Plan.
The redevelopment consists of two phases. Phase I, already underway, consists of the renovation of 400 existing beds. It is anticipated that Phase I will be complete on or about July 2024. Phase II, to be funded with a portion of the proceeds of the Series 2023C Bonds, involves the demolition and expansion of the remaining units to construct approximately 1,058 apartment-style beds in total (equal to a net increase of 520 beds from the current amount). Certain existing residential buildings will be replaced with new residential buildings, each with a shared community space and study lounges. Both the renovated and newly constructed units will be fully furnished at the completion of the project. The redeveloped complex will also include a new shared community center with a café space and fitness center. Construction is expected to be completed by August 2025.
Fred Marienthal, Jennifer Barrett, Ryan Jardine, and Shawn Willette worked on this financing.