Kutak Rock Served as bond counsel to the West Virginia Economic Development Authority in connection with the issuance of its $66,235,000 University Facilities Revenue Refunding Bonds (Provident Group – Marshall Properties L.L.C. – Marshall University Project) Series 2023A-1, $4,225,000 University Facilities Revenue Refunding Bonds (Provident Group – Marshall Properties L.L.C. – Marshall University Project) Taxable Series 2023A-2 Bonds and $8,736,000 Subordinate University Facilities Revenue Refunding Bonds (Provident Group – Marshall Properties L.L.C. – Marshall University Project) Series 2023B Bonds.  The proceeds of the Series 2023A Bonds were used for the purpose of providing funds to: (a) currently refund the Cabell County, West Virginia Variable Rate Demand University Facilities Revenue Bonds (Provident Group – Marshall Properties L.L.C. – Marshall University Project) issued in the original principal amount of $80,150,000 ; (b) pay a termination payment associated with terminating the swap agreement entered into in connection with the Series 2010A Bonds; (c) compensate Marshall University for providing additional support for the Series 2023A Bonds pursuant to the terms of the Coordination Agreement; and (d) pay the costs of issuing the Series 2023A Bonds.

The Project financed with the proceeds of the Series 2010A Bonds and refinanced with the Series 2023A Bonds consists of (a) a 418 unit, student housing facility, contained in 2 buildings, comprised of (i) 2 two-bedroom, one-bathroom units in apartment style configuration, (ii) 392 one-bedroom (two beds per room), one-bathroom units in suite style configuration, (iii) 22 one-bedroom, one-bathroom private (RA) units in suite style configuration, and (iv) two one-bedroom, one-bathroom units in apartment style configuration aggregating 160,698 square feet; and (b) an approximately 123,850 square foot student recreation/wellness center.

Fred Marienthal, Jennifer Barrett, Larry Carlile and Shawn Willette worked on this financing.