Date: 04/14/2015

Final
Colorado State University Two-Year Cash List

COMMITTEE ON CAPITAL DEVELOPMENT

Votes: View--> Action Taken:
Approve the new and revised projects listed on the
Approve the request from Colorado State University
Approve the request from Colorado State University
Approve the request from Colorado State University
Approve the request from Colorado State University		PASS
PASS
PASS
PASS
PASS



08:01 AM -- Colorado State University Two-Year Cash List

Mr. Rich Schweigert, Chief Financial Officer, and Dr. Tony Frank, President, Colorado State University (CSU), presented four projects on the university's two-year projection of cash need, which require additional review under the Higher Education Revenue Bond Intercept Program. Committee members received the university's revised two-year projection of cash need (Attachment D), and four summaries describing requests from the university to borrow under the Higher Education Revenue Bond Intercept Program for the Medical Center project (Attachment E), the University Parking Garage project (Attachment F), the Biology Building project (Attachment G), and the South Campus Parking Lot project (Attachment H), all prepared by Legislative Council Staff. Committee members also received a listing of ongoing or proposed CSU capital projects, prepared by the university (Attachment I). Mr. Schweigert first provided an overview of the university's use of cash funds to construct facilities, as outlined in Attachment I, and the total amount of debt accrued to finance the projects. Dr. Frank provided some background on the history of capital construction at CSU, and the resources available to the university for capital construction. Ms. Donaldson provided an overview of the Higher Education Revenue Bond Intercept Program. Dr. Frank responded to questions regarding competition among higher education institutions for students, and the impact of capital construction and its associated costs on this market.

150414 AttachD.pdf150414 AttachD.pdf150414 AttachE.pdf150414 AttachE.pdf150414 AttachF.pdf150414 AttachF.pdf150414 AttachG.pdf150414 AttachG.pdf150414 AttachH.pdf150414 AttachH.pdf150414 AttachI.pdf150414 AttachI.pdf

08:14 AM

Mr. Schweigert responded to questions regarding the overall debt load carried by CSU for cash-funded capital projects, and the impact of the projects being considered by the committee on this debt load. Dr. Frank addressed an earlier question about the use of student fees for capital construction at CSU. Discussion ensued regarding the potential for the state to be called on to cover a debt payment on behalf of CSU under the Higher Education Revenue Bond Intercept Program based on the university's overall debt load. Discussion followed regarding the financing of, and need for, the CSU Medical Center project. Dr. Frank responded to questions regarding the tuition and fee structure for CSU students, and the portion of fees used for facilities.


BILL:Colorado State University Two-Year Cash List
TIME: 08:24:21 AM
MOVED:Kefalas
MOTION:Approve the new and revised projects listed on the Colorado State University two-year projection of cash need. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Becker K.
Yes
Brown
Yes
Kefalas
Yes
Sonnenberg
Yes
Baumgardner
Excused
Vigil
Yes
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS



08:25 AM

Ms. Donaldson provided input on the votes required to approve the use of the Higher Education Revenue Bond Intercept Program.


BILL:Colorado State University Two-Year Cash List
TIME: 08:25:37 AM
MOVED:Kefalas
MOTION:Approve the request from Colorado State University to borrow under the Higher Education Intercept Program on behalf of the South Campus Parking Lot project ($5,400,000 CF). The motion passed on a vote of 5-0.
SECONDED:
VOTE
Becker K.
Yes
Brown
Yes
Kefalas
Yes
Sonnenberg
Yes
Baumgardner
Excused
Vigil
Yes
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS


BILL:Colorado State University Two-Year Cash List
TIME: 08:26:13 AM
MOVED:Kefalas
MOTION:Approve the request from Colorado State University to borrow under the Higher Education Intercept Program on behalf of the Medical Center project ($58,981,491 CF). The motion passed on a vote of 5-0.
SECONDED:
VOTE
Becker K.
Yes
Brown
Yes
Kefalas
Yes
Sonnenberg
Yes
Baumgardner
Excused
Vigil
Yes
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS


BILL:Colorado State University Two-Year Cash List
TIME: 08:26:45 AM
MOVED:Kefalas
MOTION:Approve the request from Colorado State University to borrow under the Higher Education Intercept Program on behalf of the Biology Building project ($81,596,432 CF). The motion passed on a vote of 5-0.
SECONDED:
VOTE
Becker K.
Yes
Brown
Yes
Kefalas
Yes
Sonnenberg
Yes
Baumgardner
Excused
Vigil
Yes
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS


BILL:Colorado State University Two-Year Cash List
TIME: 08:27:20 AM
MOVED:Kefalas
MOTION:Approve the request from Colorado State University to borrow under the Higher Education Intercept Program on behalf of the University Square Parking Garage project ($37,522,060 CF). The motion passed on a vote of 5-0.
SECONDED:
VOTE
Becker K.
Yes
Brown
Yes
Kefalas
Yes
Sonnenberg
Yes
Baumgardner
Excused
Vigil
Yes
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS




08:28 AM

The committee adjourned.