By Stephen Nakrosis

The Colorado Educational and Cultural Facilities Authority is offering $10.7 million in charter school revenue bonds to support the acquisition and construction of a new educational facility in Fort Collins.

Proceeds from the offering will be loaned to AXIS Building, a Colorado non-profit company. The proceeds will be used to acquire about 6.3 acres of land and a 42,550 square foot facility. In addition, proceeds from the bonds will pay for renovations and improvements, according to documents on MuniOS. The facility is expected to provide classroom space and facilities for about 400 students.

The bonds will be issued in three tranches, including a Series 2025A tranche of $6.9 million and a Series 2025B tranche for $3.4 million. Both tranches are federal and state of Colorado tax exempt. A third tranche, the Series 2025C bonds, for $265,000, is federally taxable but exempt from Colorado taxes.

The Series 2025A bonds will consist of $3 million of term bonds maturing on July 1, 2045, and $3.9 million of term bonds maturing on July 1, 2055. The Series 2025B bonds will consist of $3.4 million of term bonds maturing on July 1, 2055. The Series 2025C term bonds will mature on July 1, 2029.

Interest rates haven't been set for the offering.

The bonds are special, limited revenue obligations of the Authority, and will be backed by revenues, payments, and a trust estate. S&P has given the bonds a rating of "BB."

The Colorado Educational and Cultural Facilities Authority was created by the Colorado General Assembly to provide affordable capital financing for colleges and universities.

D.A. Davidson is listed as the offering's manager.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

August 11, 2025 15:03 ET (19:03 GMT)

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