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Kutak Rock Serves as Bond & Disclosure Counsel to Colorado State University

News | November 27, 2023


Kutak Rock served as bond counsel and disclosure counsel to the Board of Governors of the Colorado State University System in connection with the issuance of its (a) $60,745,000 System Enterprise Revenue and Revenue Refunding Bonds Series 2023A‑1 (Fixed Rate Bonds) and (b) $60,000,000 System Enterprise Revenue Bonds Series 2023A‑2 (Term Rate Bonds). A portion of the proceeds of the Series 2023A Bonds are being used by the Board to: (a) finance certain improvements as determined by the Board, including but not limited to the: construction, acquisition, improvement and equipping of (i) the Veterinary Health and Education Complex campus in Fort Collins, Colorado, and (ii) the Andrew G. Clark Building in Fort Collins, Colorado; (b) finance any other improvements to any of the campuses for which the Board has spending authority and such other capital projects as may be designated by the Board, and (c) pay the costs of issuing the Series 2023A Bonds. A portion of the proceeds of the Series 2023A-1 Bonds will be used for purposes of (a) defraying in part the cost of paying, discharging, and cancelling certain Invited Bonds of the Board tendered to the Board in response to a Tender Offer and (b) paying certain costs relating to the issuance of the Series 2023A-1 Bonds. Such 2023A-1 Tendered Bonds will be purchased and cancelled by the Board on the date of issuance of the Series 2023A Bonds.

The Veterinary Health and Education Complex Campus project will consist of the upgrading and expansion of the System’s current veterinary medicine and education facilities housed on the south campus of the main Fort Collins campus, in support of the Doctor of Veterinary Medicine (“DVM”) curriculum and clinical research activities.  The new veterinary health complex is anticipated to be completed in phases through 2028 and will be the site of professional training for all DVM students. The 300,000-plus square-foot expansion will include a veterinary education center and a primary care clinic. Renovations or expansions of current spaces will include a livestock teaching hospital, adjacent to the Johnson Family Equine Hospital, and an animal specialty hospital. The existing James L. Voss Veterinary Teaching Hospital, originally constructed in 1978, will undergo a remodel and become the animal specialty hospital in support of clinical education and service.

The Andrew G. Clark Building (the “Clark Building”), built in 1968 and named for a mathematics professor, is an academic workhorse as it is the most heavily used academic building on the Fort Collins main campus. The building is currently 255,000 square feet, takes up 3.6 acres and is constructed of poured-in-place concrete. It contains several large lecture halls, other classrooms, academic department offices, laboratories, computer labs and the College of Liberal Arts dean’s office.  The Clark Building houses nine departments within the College of Liberal Arts (Sociology, History, Anthropology & Geography, Journalism and Media Communication, Political Science, Economics, Interdisciplinary Liberal Arts, International Studies, Languages, Literatures and Culture) as well as the Department of Psychology in the College of Natural Sciences. This project will construct, remodel, renovate, revitalize, and equip the existing Clark Building to better meet the needs of the System. It will consist of the construction and renovation of approximately120,000 gross square feet in total, which includes 90,000 gross square feet of new space. The project will modernize and address aging infrastructure and create spaces that foster interdisciplinary collaborations and community.

Fred Marienthal, Jennifer Barrett, Ryan Jardine, and Shawn Willette worked on this transaction.