The University of Colorado, as a public institution of higher education of the State of Colorado, is exempt by law from all federal excise taxes and from all Colorado State and local government sales and use taxes when purchasing goods or services in the conduct of official University business (IRS 48.4221-5 and C.R.S. 39-26-704).
If your organizational unit is purchasing merchandise (for the exclusive use of the University) from either an in-state or out-of-state supplier, and the shipping destination is Colorado, this purchase should be tax exempt with no sales tax applied.