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Approved By: º£½ÇÖ±²¥ Denver Board of Trustees

Purpose: The Policy establishes the guidelines by which the University will manage its debt. Ongoing debt management, as well as the University’s decisions regarding the use of new debt, are considered in the context of the University’s strategic plan.

Scope: The Policy covers all forms of debt, including:

• Enterprise revenue bonds: The University, an enterprise as defined by the Colorado Taxpayer Bill of Rights and by C.R.S. § 23-5-101.7, may issue municipal bonds that are secured by a specified revenue source. These so- called enterprise revenue bonds may be issued (a) on a senior parity basis to secure payment of principal and interest, or (b) on a subordinate basis where payment of principal and interest is secured by specified revenue sources after payment of senior debt service. Enterprise revenue bonds may generally be issued as fixed rate or variable rate securities, but the University may use derivatives to synthetically fix an underlying variable rate obligation.
• Operating and capital leases: A lease is a liability requiring periodic payments that is incurred for an asset owned (either purchased or constructed) or used by the University.
• Financial institution debt: This type of debt includes any monetary obligation requiring fixed or variable interest repayment to a bank or other financial institution including loans, lines of credit and letters of credit.
• Off-balance sheet financing structures: These structures include any arrangement for financing the University’s acquisition, construction, or use of an asset that creates a financial or operational obligation or contingent liability that is not required to be reported on the balance sheet.
• Public-private partnerships: A contract with a private party to provide a public service or project where the University assumes financial or operational obligations, including in-kind commitments, or where the University assumes substantial risks.

Contact: Chief Financial Officer, 303-605-5306

Read the full policy statement, by clicking the following link:

Debt Management Policy