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Kutak Rock Serves as Counsel to Underwriters for Michigan Technological University Financing

News | November 6, 2023


Kutak Rock served as counsel to the underwriters of the $64,410,000 Board of Trustees of Michigan Technological University General Revenue Bonds, Series 2023C. Proceeds of the bonds will finance the construction of East Hall, a new student housing project consisting of 516 beds. The facility will be located at the east end of the University’s campus creating a defined gateway to the University. East Hall will consist of 150 units and 512 beds for students, within a four-story building, plus 4 professional staff beds and 1,000 square feet for a convenience store. Amenities to be included are a fitness center, study lounges, indoor and outdoor social lounges, management offices, and support spaces for maintenance and mechanical needs. The completion date of the new student residence hall is anticipated to be August 2025.

The University was chartered by the Michigan State Legislature in 1885 with a specific purpose to provide the means for the state’s residents to acquire knowledge that will contribute to industry. Michigan Tech’s Vision Statement says the University will grow as a globally recognized technological university that educates students, advances knowledge, and innovates to improve the quality of life, and promote mutual respect and equity, for all people within the state, nation, and global community.

Located in the City of Houghton in Michigan’s Upper Peninsula, Michigan Tech is a leading public research university, offering more than 140 baccalaureate, master’s, and doctoral degree programs in science and technology, engineering, forestry, business and economics, health professions, humanities, mathematics, and social sciences. Michigan Tech is home to eight colleges and schools. In Fall 2023, the University provided educational services to 7,320 students. For the Fiscal Year ended June 30, 2023, the University awarded 1,109 baccalaureate and 471 graduate degrees.

Fred Marienthal and Jennifer Barrett worked on this financing.